Hillman Solutions Posts Record $1.552B Sales, Guides $1.6–1.7B for 2026
Record net sales rose 5.4% to $1.552 billion and adjusted EBITDA increased 13.9% to $275.3 million in 2025 despite a roughly 5% market volume decline. The company forecasts 2026 net sales of $1.6–1.7 billion, adjusted EBITDA of $275–285 million and free cash flow of $100–120 million.
1. Full-Year 2025 Results
Hillman achieved record net sales of $1.552 billion, up 5.4%, and adjusted EBITDA of $275.3 million, up 13.9%, while overall market volumes declined about 5% for the year.
2. Segment Performance
Hardware and Protective Solutions net sales rose 7.8% to $1.2 billion with adjusted EBITDA up 26% to $196.3 million, led by tariff-driven pricing and new business wins. Robotics and Digital Solutions returned to growth with 2025 sales of $220.2 million (+1.6%) driven by 1,800 new MiniKey 3.5 deployments, while Canada sales fell 6.6%.
3. Tariff Impact and Cash Flow
Tariff-related pricing hikes peaked in Q3 2025 and moderated in Q4, with full normalization expected in Q1 2026. Operating cash flow was $105 million versus $183 million in 2024, with a $65 million working capital impact from tariffs, leaving free cash flow of $35.1 million and net leverage improving to 2.4x.
4. 2026 Guidance
The company guides 2026 net sales of $1.6–1.7 billion, adjusted EBITDA of $275–285 million and free cash flow of $100–120 million. It expects gross margins of 46%–47%, with Q1 as the low point, and bases guidance on flat to mid-single-digit market volume declines and price contributions.