Hillman Solutions Corp. (HLMN) · Nov 2, 2026 · Earnings

Hillman earnings miss revenue as sales guidance gets cut

Miss — Adj. EPS $0.22 vs ~$0.21 consensus; revenue $457.5M vs ~$462.1M

Hillman’s Q3 earnings beat on adjusted EPS, but revenue missed expectations and 2026 sales guidance narrowed lower as margins and leverage remain pressured.

Hillman is expanding from its core retail hardware business into industrial distribution and higher-growth robotics, using acquisitions—most recently Kanebridge—to pursue a long-term path toward $2.5 billion of sales. Kanebridge was already announced and completed before this release, so the new information is whether the operating results and balance sheet justify that expansion.

The quarter was a modest earnings miss overall, not a clean beat. Adjusted diluted EPS of $0.22 was above the published consensus of roughly $0.21, but revenue of $457.5 million came in about 1% below the roughly $462.1 million expectation. That makes the headline earnings result weaker than the company’s upbeat framing.

Figure	Q3 2026	Q3 2025	Consensus / prior guide
Net sales (Financial Highlights)	$457.5M (-1.0%)	$424.9M	$462.1M
Adjusted diluted EPS (EPS reconciliation)	$0.22	$0.22	~$0.21
Adjusted EBITDA (Adjusted EBITDA reconciliation)	$90.2M (+2.4%)	$88.0M
Adjusted EBITDA margin (Quarterly Performance)	19.7% (-100 bps)	20.7%
FY net sales guidance (Guidance table)	$1.660B-$1.680B		$1.670B-$1.720B
FY adjusted EBITDA guidance (Guidance table)	~$285M		~$285M
FY free cash flow guidance (Guidance table)	$105M-$115M		$105M-$115M

Growth is holding, but the quality of growth is less convincing. Revenue rose 7.7%, led by Robotics and Digital Solutions at 19.2% and Canada at 9.2%, while adjusted EBITDA increased only 2.4% and the consolidated margin fell to 19.7%. The core Hardware and Protective segment’s adjusted EBITDA declined 4.1%, so the faster-growing businesses are helping offset—not yet fully replace—pressure in the main segment.

Management cut the sales outlook while protecting profit and cash-flow targets. Full-year net sales guidance moved from $1.670-$1.720 billion to $1.660-$1.680 billion, a clear acknowledgment that the macro environment is constraining top-line delivery. Reaffirming roughly $285 million of adjusted EBITDA and $105-$115 million of free cash flow limits the damage, but it also implies cost control and mix must compensate for slower sales. 〔0〕

The acquisition strategy is advancing, but leverage has materially increased. Kanebridge adds the industrial distribution platform Hillman has been building toward, and the company says it is off to a strong start. But net debt rose to $932.6 million from $665.8 million at year-end, with trailing leverage at 3.4x versus 2.4x, making execution and integration more important. The refinancing extends maturities and provides liquidity, but it does not remove the higher financial burden created by the acquisition. 〔1〕〔2〕

Bottom line: Hillman is still growing and its higher-margin businesses are gaining traction, but this quarter falls short on revenue and comes with a lower sales outlook. The acquisition-led growth story remains intact, yet the company now has less top-line cushion and more leverage to execute against.

What to watch next

Q3 earnings call, November 3 at 8:30 a.m. ET

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Hillman earnings miss revenue as sales guidance gets cut

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