Hillman Solutions launches $1.11B refinancing, reports Q2 sales growth
Hillman Solutions Corp. launched a $1.11 billion refinancing plan to extend debt maturities, comprising a new Term Loan B and ABL facility. The company reported preliminary Q2 2026 net sales of $440 million to $444 million and reiterated its full-year 2026 guidance for net sales and Adjusted EBITDA.
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Hillman Solutions Corp. announced a $1.11 billion refinancing plan to extend debt maturities and reported preliminary financial results for the thirteen weeks ended June 27, 2026. The company estimates net sales between $440 million and $444 million for Q2 2026, an increase of 9% to 10% over the year-ago quarter. Operating income is projected between $40 million and $42 million, an increase of 10% to 16%, while Adjusted EBITDA is expected to be between $76 million and $78 million, up 1% to 4%.
Debt Refinancing Details
The proposed refinancing consists of a $735 million senior secured Term Loan B maturing in 2033 and a $375 million senior secured asset-based revolving credit facility maturing in 2031. Proceeds will refinance the existing Term Loan B due 2028, pay down the existing ABL facility due 2027, and cover related fees and general corporate purposes. Jefferies is leading the Term Loan B arrangement, while U.S. Bank is leading the ABL arrangement. There can be no assurance that the Transaction will be consummated on the terms described above, or at all.
Full Year 2026 Guidance
Hillman reiterated its full-year 2026 guidance, which includes net sales of $1.630 billion to $1.730 billion and Adjusted EBITDA of $275 million to $285 million. Free Cash Flow is projected to be between $100 million and $120 million.
| Metric | Reiterated FY 2026 Guidance |
|---|---|
| Net Sales | $1.630 to $1.730 billion |
| Adjusted EBITDA | $275 to $285 million |
| Free Cash Flow | $100 to $120 million |
Q2 2026 Financial Estimates
The preliminary results are unaudited and subject to adjustment. Adjusted EBITDA is a non-GAAP measure used by management to evaluate operational strength. The reconciliation of operating income to Adjusted EBITDA for the thirteen weeks ended June 27, 2026, is provided below.
| Metric | Bottom of Range ($) | Top of Range ($) |
|---|---|---|
| Income from operations | 40 | 42 |
| Depreciation and amortization | 37 | 38 |
| Stock compensation expense | 3 | 4 |
| Restructuring and other | — | (1) |
| Transaction and integration expense | (4) | (5) |
| Change in fair value of contingent consideration | — | — |
| Adjusted EBITDA | 76 | 78 |
Hillman plans to release its full Q2 2026 earnings after market close on August 3, 2026, and host a conference call on August 4, 2026, at 8:30 a.m. Eastern Time.
How will the extended debt maturities impact Hillman's leverage ratios and financial flexibility over the next five years?
What specific strategic initiatives or capital allocations does Hillman plan to prioritize with the improved liquidity from the refinancing?
What factors are driving the projected growth in operating income outpacing the growth in Adjusted EBITDA for the second quarter?
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