Hillman’s second quarter saw strong revenue growth and a positive market reaction, driven by robust contributions from recent acquisitions and continued momentum in new business wins. Management attributed the 10% sales growth to organic gains, new pro-channel contracts, and the impact of Campbell Chain & Fittings and Delaney Hardware deals. CEO Jon-Michael Adinolfi highlighted the company’s “right to win in the pro space,” pointing to specific bulk fastener wins in the Pacific Northwest and Canada. The quarter’s results reflected Hillman’s ability to leverage its broad product range and high service levels to secure new accounts and outperform expectations across its channels.
Is now the time to buy HLMN? Find out in our full research report (it’s free for active Edge members).
Hillman (HLMN) Q2 CY2026 Highlights:
- Revenue: $442.3 million vs analyst estimates of $436.7 million (9.8% year-on-year growth, 1.3% beat)
- Adjusted EPS: $0.17 vs analyst estimates of $0.17 (in line)
- Adjusted EBITDA: $77.15 million vs analyst estimates of $75.86 million (17.4% margin, 1.7% beat)
- The company slightly lifted its revenue guidance for the full year to $1.70 billion at the midpoint from $1.68 billion
- EBITDA guidance for the full year is $285 million at the midpoint, above analyst estimates of $279.4 million
- Operating Margin: 9.3%, in line with the same quarter last year
- Market Capitalization: $1.79 billion
While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Hillman’s Q2 Earnings Call
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Lee Jagoda (CJS Securities) asked about the potential for Hillman SKUs to be integrated into Kanebridge’s offering. CEO Jon-Michael Adinolfi confirmed cross-selling is a key synergy, saying, “We believe that we can bring them some product… and help them buy at a better rate.”
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Reuben Garner (Benchmark) questioned if Hillman is seeing recent acceleration in consumer demand reflected in its business. Adinolfi responded, “I can't sit here and say that we've seen any outsized change in demand in recent weeks. So we will be ready when it comes.”
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Elizabeth Langan (Barclays) inquired about the fit of Kanebridge with Hillman’s strategic priorities and the status of pro and industrial expansion. Adinolfi highlighted that Kanebridge “doubles our industrial business” and fits directly into the company’s plan to grow core, pro, and industrial channels.
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David Manthey (Baird) sought clarity on the customer base for Kanebridge. Adinolfi explained that Kanebridge serves “thousands of customers” across manufacturing, construction, and maintenance, with most being incremental to Hillman’s existing base.
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Brian McNamara (Canaccord) asked about the outlook for new business wins and the M&A environment. Adinolfi noted that the pro side is seeing “early results” from dedicated teams and that “the market is warming up” for further acquisition opportunities.
Catalysts in Upcoming Quarters
In the coming quarters, our analysts will be closely tracking (1) the successful integration and synergy realization from the Kanebridge acquisition, (2) progress on new business wins in the pro and industrial channels, and (3) the continued rollout and monetization of the Minute Key 3.5 platform. Additional attention will be paid to Hillman’s ability to manage tariff impacts and maintain margin discipline amid evolving market conditions.
Hillman currently trades at $9.22, up from $8.31 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it’s free).
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