Hillman Solutions Corp. Files Q3 2024 10-Q
Ticker: HLMN · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1822492
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Hillman Solutions Corp. filed its Q3 2024 10-Q, check financials.
AI Summary
Hillman Solutions Corp. filed its 10-Q for the period ending September 28, 2024. The company, formerly known as Landcadia Holdings III, Inc., reported financial results for its fiscal third quarter. The filing details the company's financial position and performance, including balance sheet and income statement information.
Why It Matters
This filing provides investors with the latest financial performance and position of Hillman Solutions Corp., crucial for understanding the company's operational health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating immediate significant risks.
Key Players & Entities
- Hillman Solutions Corp. (company) — Filer of the 10-Q
- Landcadia Holdings III, Inc. (company) — Former name of Hillman Solutions Corp.
- 2024-09-28 (date) — End of the reporting period
- 2024-11-05 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the period ending September 28, 2024.
What was Hillman Solutions Corp. formerly known as?
Hillman Solutions Corp. was formerly known as Landcadia Holdings III, Inc.
On what date was this 10-Q filed with the SEC?
This 10-Q was filed on November 5, 2024.
What is the Standard Industrial Classification code for Hillman Solutions Corp.?
The Standard Industrial Classification code for Hillman Solutions Corp. is 3420 (CUTLERY, HANDTOOLS & GENERAL HARDWARE).
In which state was Hillman Solutions Corp. incorporated?
Hillman Solutions Corp. was incorporated in Delaware (DE).
Filing Stats: 4,585 words · 18 min read · ~15 pages · Grade level 17.9 · Accepted 2024-11-05 07:40:43
Key Financial Figures
- $0.0001 — ich Registered Common Stock, par value $0.0001 per share HLMN The Nasdaq Stock Market
- $173 — final net working capital adjustment of $173, which reduced goodwill and the purchas
- $23,956 — ce of the acquisition from an estimated $23,956 at closing in the first quarter of 2024
- $10,261 — eks ended September 28, 2024 Net sales $10,261 $31,716 Operating income 1,268 3,89
- $31,716 — September 28, 2024 Net sales $10,261 $31,716 Operating income 1,268 3,899 Pro f
Filing Documents
- hlm-20240928.htm (10-Q) — 1436KB
- ex101-hillmanxrandallfagun.htm (EX-10.1) — 33KB
- ex102-hillmanxrandallfagun.htm (EX-10.2) — 44KB
- exhibit311-92824.htm (EX-31.1) — 10KB
- exhibit312-92824.htm (EX-31.2) — 10KB
- exhibit321-92824.htm (EX-32.1) — 4KB
- exhibit322-92824.htm (EX-32.2) — 4KB
- hiollmana.jpg (GRAPHIC) — 6KB
- hlm-20240928_g1.jpg (GRAPHIC) — 626KB
- table1.jpg (GRAPHIC) — 20KB
- table2.jpg (GRAPHIC) — 23KB
- table3.jpg (GRAPHIC) — 16KB
- 0001822492-24-000164.txt ( ) — 8887KB
- hlm-20240928.xsd (EX-101.SCH) — 40KB
- hlm-20240928_cal.xml (EX-101.CAL) — 68KB
- hlm-20240928_def.xml (EX-101.DEF) — 213KB
- hlm-20240928_lab.xml (EX-101.LAB) — 461KB
- hlm-20240928_pre.xml (EX-101.PRE) — 364KB
- hlm-20240928_htm.xml (XML) — 1287KB
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 4 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 22 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 38 Item 1A.
Risk Factors
Risk Factors 38 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds , and Issuer Purchases of Equity Securities 38
Defaults upon Senior Securities
Item 3. Defaults upon Senior Securities 38
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 38
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 39
SIGNATURES
SIGNATURES 40 Table of Contents HILLMAN SOLUTIONS CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (dollars in thousands) As of September 28, 2024 As of December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 59,820 $ 38,553 Accounts receivable, net of allowances of $ 10,365 ($ 2,770 - 2023) 129,633 103,482 Inventories, net 419,385 382,710 Other current assets 15,566 23,235 Total current assets 624,404 547,980 Property and equipment, net of accumulated depreciation of $ 374,289 ($ 333,875 - 2023) 221,769 200,553 Goodwill 829,246 825,042 Other intangibles, net of accumulated amortization of $ 516,026 ($ 470,791 - 2023) 622,562 655,293 Operating lease right of use assets 85,254 87,479 Other assets 14,332 14,754 Total assets $ 2,397,567 $ 2,331,101 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 165,809 $ 140,290 Current portion of debt and finance lease liabilities 13,039 9,952 Current portion of operating lease liabilities 16,331 14,407 Accrued expenses: Salaries and wages 29,645 22,548 Pricing allowances 6,693 8,145 Income and other taxes 7,700 6,469 Other accrued liabilities 29,895 21,309 Total current liabilities 269,112 223,120 Long-term debt 730,666 731,708 Deferred tax liabilities 130,403 131,552 Operating lease liabilities 75,585 79,994 Other non-current liabilities 10,577 10,198 Total liabilities $ 1,216,343 $ 1,176,572 Commitments and contingencies (Note 6) Stockholders' equity: Common stock: $ 0.0001 par value, 500,000,000 shares authorized, 196,514,508 and 194,913,124 shares issued and outstanding in 2024 and 2023, respectfully 20 20 Additional paid-in capital 1,438,074 1,418,535 Accumulated deficit ( 217,729 ) ( 236,206 ) Accumulated other comprehensive loss ( 39,141 ) ( 27,820 ) Total stockholders' equity 1,181,224 1,154,529 Total liabilities and stockholders' equity $ 2,397,567 $ 2,331,101 The accompanying Notes are an integral part of