Hillman Solutions Corp.'s stock plummeted 9.45% intraday after the company reported disappointing first-quarter results that missed analyst expectations.

The hardware and fastening solutions provider reported adjusted earnings of 7 cents per share for the quarter ended March 31, falling short of the 8 cents per share analysts had expected. Revenue of $370.07 million also missed the consensus estimate of $372.82 million, despite a 3% increase from a year ago.

Hillman reported a quarterly loss of $4.73 million, with a reported loss per share of 2 cents. The company's mean earnings estimate had fallen by approximately 27.3% over the last three months, indicating deteriorating analyst sentiment ahead of the earnings release.