Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 26,000 customers. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers. Leveraging a world-class distribution and sales network, Hillman delivers a “small business” experience with “big business” efficiency.
Company profile
Ticker
HLM-P
Website
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Willis Lease Finance • Applied Industrial • Distribution Solutions • Hudson • YBCC • Urban-gro • AerSale • FACT • Monocle ...
Former names
SUNSOURCE INC
SEC CIK
Corporate docs
Subsidiaries
Hillman Investment Company • The Hillman Group, Inc. • a. SunSource Integrated Services de Mexico S.A. de C.V. • Incorporated in Ciudad de Mexico, Mexico • b. SunSub C Inc. • c. The Hillman Group Canada ULC • Incorporated in the Province of British Columbia, Canada • d. NB Parent Company, LLC • 1) NB Products LLC • a. BTP Latinoamericana S. de. R. L. de C.V. ...
Calendar
29 Jul 21
2 Jul 22
25 Dec 22
Financial summary
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 16.26M | 16.26M | 16.26M | 16.26M | 16.26M | 16.26M |
Cash burn (monthly) | (no burn) | 195.75K | (no burn) | (no burn) | 4.82M | (no burn) |
Cash used (since last report) | n/a | 2.39M | n/a | n/a | 58.92M | n/a |
Cash remaining | n/a | 13.86M | n/a | n/a | -42.66M | n/a |
Runway (months of cash) | n/a | 70.8 | n/a | n/a | -8.9 | n/a |
Financial report summary
?Competition
Illinois Tool Works • Spectrum Brands • Dorman Products • Spectrum Brands • Spectrum BrandsRisks
- Risks Relating to Our Business
- Supply and demand for our products is influenced by general economic conditions and trends in spending on repair and remodel home projects, new home construction, and personal protective equipment. Adverse trends in, among other things, the general health of the economy, consumer confidence, interest rates, repair and remodel home projects, new home construction activity, commercial construction activity, and the use of personal protective equipment could adversely affect our business.
- The COVID-19 pandemic could have a material adverse effect on our business, financial condition and results of operations.
- To compete successfully, we must develop and commercialize a continuing stream of innovative new products that create consumer demand.
- Our business may be adversely affected by seasonality.
- Because our business is working capital intensive, we rely on our ability to manage our product purchasing and customer credit policies.
- We are subject to inventory management risks: insufficient inventory may result in increased costs, lost sales and lost customers, while excess inventory may increase our costs.
- We have substantial fixed costs and, as a result, our operating income is sensitive to changes in our net sales.
- Large customer concentration and the inability to penetrate new channels of distribution could adversely affect our business.
- Successful sales and marketing efforts depend on our ability to recruit and retain qualified employees.
- Increases in labor costs, potential labor disputes and work stoppages or an inability to hire skilled distribution, sales and other personnel could adversely affect our business.
- We are exposed to adverse changes in currency exchange rates.
- Our results of operations could be negatively impacted by inflation or deflation in supply chain costs, including raw materials, sourcing, transportation and energy.
- We are subject to the risks of doing business internationally.
- Our business is subject to risks associated with sourcing product from overseas.
- Acquisitions have formed a significant part of our growth strategy in the past and may continue to do so. If we are unable to identify suitable acquisition candidates, successfully integrate an acquired business, or obtain financing needed to complete an acquisition, our growth strategy may not succeed.
- If we were required to write down all or part of our goodwill or indefinite-lived trade names, our results of operations could be materially adversely affected.
- Our success is highly dependent on information and technology systems.
- Unauthorized disclosure of sensitive or confidential customer, employee, supplier, or Company information, whether through a breach of our computer systems, including cyber-attacks or otherwise, could severely harm our business.
- Despite current indebtedness levels, we may still be able to incur substantially more debt. This could further exacerbate the risks associated with our substantial leverage.
- We are subject to fluctuations in interest rates.
- Restrictions imposed by the indenture governing the 6.375% Senior Notes, and by our Senior Facilities and our other outstanding indebtedness, may limit our ability to operate our business and to finance our future operations or capital needs or to engage in other business activities.
- We may not be able to generate sufficient cash to service all of our indebtedness, including the notes, and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
- Our ability to repay our debt is affected by the cash flow generated by our subsidiaries.
- Volatility and weakness in bank and capital markets may adversely affect credit availability and related financing costs for us.
Management Discussion
- Net sales for the year ended December 26, 2020 were $1,368.3 million, or $5.4 million per shipping day, compared to net sales of $1,214.4 million, or $4.8 million per shipping day for the year ended December 28, 2019, an increase of approximately $153.9 million. Sales of personal protective equipment increased by $71.8 million due to high demand for gloves and face masks. Fastening and hardware sales increased $99.6 million driven by strong sales with big box retailers and traditional hardware stores. Finally, sales in Canada increased by $9.4 million primarily due to strong retail demand for our products partially offset by in store shopping restrictions during the second quarter which lead to lower demand during that period. These increases were offset by a decrease of $27.6 million in key sales in the United States. Key sales were negatively impacted by restricted access to key duplicating kiosks and retail key duplication services as a result of COVID-19. As the economy has started to reopen, our service team has worked closely with our customers to restore access to key machines.
Content analysis
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H.S. freshman Avg
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New words:
accessory, agent, agreed, AMT, Antonio, assumed, Bank, banking, buy, cleaning, consummated, deemed, delayed, delisting, deposited, discharge, drawn, equal, forfeit, forma, investigating, JFG, Lanham, longer, low, maturity, Mellon, nail, notice, NYSE, Oz, PKOR, PLC, Post, preliminary, Pro, public, redeem, redemption, refinance, refine, renewed, replevin, resolved, San, scope, Sponsor, standalone, stolen, thereunder, TJF, Trustee, twenty, unfair, vigorously, voluntarily
Removed:
assistance, building, consisted, covered, defending, deferral, immaterial, incidental, indemnity, ongoing, ordinary, package, Trump
Financial reports
Current reports
8-K
The Hillman Group Reports Second Quarter and Year-to-Date 2021 Results
30 Jul 21
8-K
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
16 Jul 21
8-K
The Hillman Group Announces Record First Quarter 2021 Results
11 May 21
8-K
Entry into a Material Definitive Agreement
17 Mar 21
8-K
The Hillman Group Reports Record Fourth Quarter and Full Year 2020 Results
3 Mar 21
8-K
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
3 Mar 21
8-K
The Hillman Group Merger with Landcadia Holdings III
25 Jan 21
8-K
Departure of Directors or Certain Officers
13 Jan 21
8-K
The Hillman Companies, Inc. Reports Year-to-Date 2020 Financial Results
20 Jul 20
8-K
Entry into a Material Definitive Agreement
20 Nov 19
Registration and prospectus
15-12B
Securities registration termination
12 Aug 21
25
Voluntary exchange delisting
2 Aug 21
424B3
Prospectus supplement
21 Jul 13
424B3
Prospectus supplement
3 Nov 11
S-4/A
Registration of securities issued in business combination transactions (amended)
1 Nov 11
S-4
Registration of securities issued in business combination transactions
12 Jul 11
424B3
Prospectus supplement
3 Nov 10
Other
SD
Conflict minerals disclosure
26 May 21
SD
Conflict minerals disclosure
21 May 20
SD
Conflict minerals disclosure
30 May 19
SD
Conflict minerals disclosure
31 May 18
SD
Conflict minerals disclosure
25 May 17
SD
Conflict minerals disclosure
15 May 16
SD
Conflict minerals disclosure
20 May 15
UPLOAD
Letter from SEC
5 Nov 14
CORRESP
Correspondence with SEC
23 Oct 14
CORRESP
Correspondence with SEC
7 Oct 14
Patents
Utility
Duplication Device for Key Fobs
3 Mar 22
A key fob duplication device is disclosed.
Utility
Engraving Machine for Engraving Offboard and Onboard Items
17 Feb 22
An engraving machine is disclosed.
Utility
Key Duplication System
6 Jan 22
A key-duplicating system comprises a network that includes a multiplicity of kiosks at a multiplicity of different locations, each of the kiosks having a customer interface and a processor coupled to the customer interface.
Utility
Glove with Protective Structure
30 Dec 21
A glove includes a glove body in a shape of a hand and having a palm side and a dorsal side opposite the palm side.
Utility
Sheet metal screw
21 Dec 21
A sheet metal screw includes one or more of a tapered self-drilling tip, an asymmetric thread angle and/or a trilobular thread edge profile.