Stock Track | Hillman Solutions Plummets 9.45% at Open After Missing Q1 Earnings and Revenue Estimates
Stock Track
Apr 28
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.
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