Hillman Solutions Corp
NASDAQ:HLMN
Hillman Solutions Corp
Hillman Solutions Corp. emerged from humble beginnings to carve out a distinct position in the nuts-and-bolts world of hardware solutions. Founded in 1964, this company initially focused on manufacturing fasteners, but over the decades, it has grown and diversified significantly. Today, Hillman is a key player in delivering complete solutions for hardware offerings. Its operations extend across North America, harnessing a vast distribution network to serve various retail channels, including home improvement centers, mass merchants, and smaller independent organizations. What truly sets Hillman apart, though, is its commitment to providing value-added services, such as inventory management and merchandising solutions, which ensure its products are not merely available but are optimally positioned and presented to attract consumer attention.
For Hillman Solutions, the pathway to profitability goes beyond the traditional supply of hardware products. Its business model is anchored in the blend of manufacturing, distribution, and retail-focused service provisions. The company's income streams are diverse, with a significant focus on providing in-store services like key duplicating, engraving, and other accessory solutions, packaged in convenient kiosks that add both convenience and competitive edge for their retail partners. Additionally, Hillman leverages its proprietary technology and logistics capabilities, offering integrated supply chain services that improve operational efficiencies for both the company and its clients. This symbiotic relationship not only enhances customer loyalty but also widens the margin on its comprehensive range of hardware solutions.
Hillman Solutions Corp. emerged from humble beginnings to carve out a distinct position in the nuts-and-bolts world of hardware solutions. Founded in 1964, this company initially focused on manufacturing fasteners, but over the decades, it has grown and diversified significantly. Today, Hillman is a key player in delivering complete solutions for hardware offerings. Its operations extend across North America, harnessing a vast distribution network to serve various retail channels, including home improvement centers, mass merchants, and smaller independent organizations. What truly sets Hillman apart, though, is its commitment to providing value-added services, such as inventory management and merchandising solutions, which ensure its products are not merely available but are optimally positioned and presented to attract consumer attention.
For Hillman Solutions, the pathway to profitability goes beyond the traditional supply of hardware products. Its business model is anchored in the blend of manufacturing, distribution, and retail-focused service provisions. The company's income streams are diverse, with a significant focus on providing in-store services like key duplicating, engraving, and other accessory solutions, packaged in convenient kiosks that add both convenience and competitive edge for their retail partners. Additionally, Hillman leverages its proprietary technology and logistics capabilities, offering integrated supply chain services that improve operational efficiencies for both the company and its clients. This symbiotic relationship not only enhances customer loyalty but also widens the margin on its comprehensive range of hardware solutions.
Record Results: Hillman reported its highest-ever quarterly net sales and adjusted EBITDA in Q3 2025, with net sales up 8% and adjusted EBITDA up 36% year-over-year.
Margin Expansion: Adjusted gross margin and EBITDA margin both improved significantly, driven by price increases and timing benefits versus tariffs.
Guidance Update: Full-year 2025 net sales guidance was reiterated, while the midpoint of adjusted EBITDA guidance was raised; the company expects net sales of $1.535B–$1.575B and adjusted EBITDA of $270M–$275M.
Tariff Management: Hillman fully offset higher tariffs through pricing strategy and continues to flex its dual sourcing supply chain.
Customer & Market Trends: Core demand is resilient, supported by strong customer relationships and high service levels, though market volumes remain a headwind.
2026 Outlook: With a flat market assumed, Hillman expects high single to low double-digit net sales growth and low to mid-single-digit adjusted EBITDA growth in 2026.
Share Repurchases: The company bought back $3.2M of stock in Q3 and anticipates $20M–$25M in annual repurchases.
