Hillman Solutions Corp. Files 10-Q for Q1 2024

Ticker: HLMN · Form: 10-Q · Filed: May 7, 2024 · CIK: 1822492

Sentiment: neutral

Topics: 10-Q, Hillman Solutions, Quarterly Report, Financials, SEC Filing

TL;DR

<b>Hillman Solutions Corp. has filed its Q1 2024 10-Q report, detailing its financial performance and operational status.</b>

AI Summary

Hillman Solutions Corp. (HLMN) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Hillman Solutions Corp. filed its 10-Q for the period ending March 30, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 30th. Hillman Solutions Corp. was formerly known as Landcadia Holdings III, Inc. The company's primary business address is in Cincinnati, OH.

Why It Matters

For investors and stakeholders tracking Hillman Solutions Corp., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, allowing for an assessment of the company's performance and trends. Understanding the company's financial health and operational segments is crucial for making informed investment decisions regarding Hillman Solutions Corp.

Risk Assessment

Risk Level: low — Hillman Solutions Corp. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain immediate, significant financial shifts or negative indicators.

Analyst Insight

Monitor future 10-Q filings for revenue growth, net income trends, and any changes in debt levels to assess ongoing performance.

Key Players & Entities

FAQ

When did Hillman Solutions Corp. file this 10-Q?

Hillman Solutions Corp. filed this Quarterly Report (10-Q) with the SEC on May 7, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Hillman Solutions Corp. (HLMN).

Where can I read the original 10-Q filing from Hillman Solutions Corp.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Hillman Solutions Corp..

What are the key takeaways from Hillman Solutions Corp.'s 10-Q?

Hillman Solutions Corp. filed this 10-Q on May 7, 2024. Key takeaways: Hillman Solutions Corp. filed its 10-Q for the period ending March 30, 2024.. The filing covers the first quarter of fiscal year 2024.. The company's fiscal year ends on December 30th..

Is Hillman Solutions Corp. a risky investment based on this filing?

Based on this 10-Q, Hillman Solutions Corp. presents a relatively low-risk profile. The filing is a standard 10-Q, which is a routine quarterly report and does not contain immediate, significant financial shifts or negative indicators.

What should investors do after reading Hillman Solutions Corp.'s 10-Q?

Monitor future 10-Q filings for revenue growth, net income trends, and any changes in debt levels to assess ongoing performance. The overall sentiment from this filing is neutral.

How does Hillman Solutions Corp. compare to its industry peers?

Hillman Solutions Corp. operates in the hardware and home improvement sector, providing a range of products including fasteners, hardware, and personal protection solutions.

Are there regulatory concerns for Hillman Solutions Corp.?

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

Industry Context

Hillman Solutions Corp. operates in the hardware and home improvement sector, providing a range of products including fasteners, hardware, and personal protection solutions.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

  1. Review the full 10-Q document for detailed financial statements and management discussion.
  2. Analyze segment performance data once available in the detailed financial tables.
  3. Compare Q1 2024 results against prior periods and analyst expectations.

Key Dates

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 10-K filed for the fiscal year ended December 30, 2023.

Filing Stats: 4,548 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-05-07 07:38:31

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Comprehensive Income (Loss ) 2 Condensed Consolidated Statements of Cash Flows 3 Condensed Consolidated Statements of Stockholders' Equity 3 Notes to Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds , and Issuer Purchases of Equity Securities 30

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 32

SIGNATURES

SIGNATURES 33 Table of Contents HILLMAN SOLUTIONS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (dollars in thousands) As of March 30, 2024 As of December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 30,672 $ 38,553 Accounts receivable, net of allowances of $ 2,433 ($ 2,770 - 2023) 127,332 103,482 Inventories, net 404,060 382,710 Other current assets 25,130 23,235 Total current assets 587,194 547,980 Property and equipment, net of accumulated depreciation of $ 345,363 ($ 333,875 - 2023) 205,025 200,553 Goodwill 828,279 825,042 Other intangibles, net of accumulated amortization of $ 485,751 ($ 470,791 - 2023) 643,359 655,293 Operating lease right of use assets 87,334 87,479 Other assets 15,155 14,754 Total assets $ 2,366,346 $ 2,331,101 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 156,827 $ 140,290 Current portion of debt and finance lease liabilities 10,061 9,952 Current portion of operating lease liabilities 15,288 14,407 Accrued expenses: Salaries and wages 16,083 22,548 Pricing allowances 8,002 8,145 Income and other taxes 5,981 6,469 Interest 864 343 Other accrued liabilities 23,059 20,966 Total current liabilities 236,165 223,120 Long-term debt 751,315 731,708 Deferred tax liabilities 131,636 131,552 Operating lease liabilities 78,852 79,994 Other non-current liabilities 7,086 10,198 Total liabilities $ 1,205,054 $ 1,176,572 Commitments and contingencies (Note 6) Stockholders' equity: Common stock, $ 0.0001 par, 500,000,000 shares authorized, 195,942,200 issued and outstanding at March 30, 2024 and 194,913,124 issued and outstanding at December 30, 2023 20 20 Additional paid-in capital 1,427,120 1,418,535 Accumulated deficit ( 237,698 ) ( 236,206 ) Accumulated other comprehensive loss ( 28,150 ) ( 27,820 ) Total stockholders' equity 1,161,292 1,154,529 Total liabilities and stockholders' equity $ 2,366,346 $ 2,331,101 The accompanying N

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