Why Hillman Solutions Stock Is Falling After Hours

Hillman Solutions Corp HLMN shares are trading lower in Tuesday's after-hours session after the company reported preliminary results and announced an offering.

Hillman said the company expects first-quarter revenue to be $363 million, up from $341.3 million year-over-year. Operating income is expected to be $8.8 million and adjusted EBITDA is expected to reach $44 million, compared to $47.8 million in the prior year quarter. 

The company also announced the commencement of an underwritten public offering of 10 million shares. The offering consists entirely of shares of common stock to be sold by the selling stockholders. Hillman will not receive any proceeds from the sale.

Hillman is a provider of hardware-related products and related merchandising services to retail markets in North America.

HLMN 52-Week Range: $8.12 - $13.46

According to data from Benzinga Pro, the stock was down 8.84% in after hours at $10.51 at press time.