Hillman Posts Flat 1Q Sales and Net Loss Shrinks - Modern Distribution Management

Log In

Hillman Posts Flat 1Q Sales and Net Loss Shrinks

The fasteners and industrial supplies distributor's 1Q acquisition of Koch Industries helped drive top-line sales growth.

Fasteners and other hardware products distributor Hillman Solutions reported its 2024 first quarter financial results on May 7, showing profit declines amid flat sales.

The Cincinnati-based company posted total 1Q sales of $350 million, up 0.2% year-over-year, while a net loss of $1.5 million was much smaller than a $9.1 million loss of a year earlier. Sequentially, it followed a 4Q23 that logged a comparable sales increase 3.8% and a net loss of $10 million.

Hillman’s 1Q adjusted gross margin jumped 620 basis points year-over-year to 47.6%.

Hillman’s 1Q adjusted EBITDA of $52 million on 14.9% margin topped the $40 million and 11.5% margin of a year earlier

By business unit in 1Q:

  • Hardware & Protective sales of $260 million increased 2.4% year-over-year — driven by the company’s 1Q Koch acquisition and new business — with adjusted EBITDA up 70.9% as margin of 12.4% increased 500 bps.
  • Robotics & Digital sales of $61 million fell 9.2%, with adjusted EBITDA down 12.9% as margin of 30.7% fell 130 bps.
  • Canada sales of $35 million increased 0.5%, with adjusted EBITDA up 70.7% as margin of 8.7% jumped 360 bps.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.