Welcome to our dedicated page for Hamilton Beach Brands Holding Company news (Ticker: HBB), a resource for investors and traders seeking the latest updates and insights on Hamilton Beach Brands Holding Company stock.
Hamilton Beach Brands Holding Company (NYSE: HBB) operates through its wholly-owned subsidiary Hamilton Beach Brands, Inc., a leading designer, marketer, and distributor of small electric household and specialty housewares appliances, as well as commercial products for restaurants, bars, and hotels. The company’s extensive product portfolio includes well-known consumer brands such as Hamilton Beach®, Proctor Silex®, Hamilton Beach Professional®, Weston®, TrueAir®, and Hamilton Beach Health®. The commercial brands include Hamilton Beach Commercial® and Proctor Silex Commercial®.
Headquartered in Richmond, Virginia, Hamilton Beach Brands, Inc. is a wholly-owned subsidiary of Nacco Industries, Inc. (NYSE: NC). The company designs, markets, and distributes its products globally, serving both consumer and commercial markets.
Hamilton Beach Brands is recognized for its commitment to innovation and quality. The company’s mission is to achieve profitable growth through innovative solutions that enhance everyday living. Recent initiatives have focused on various strategic growth areas:
- Drive Core Growth: The company aims to expand the reach of its flagship brands, Hamilton Beach® and Proctor Silex®, in the North American market. These brands have long been trusted for their quality, durability, and innovative solutions.
- Gain Share in the Premium Market: By developing, licensing, and acquiring premium brands like Hamilton Beach Professional® and Weston®, and leveraging partnerships for brands such as Wolf Gourmet® and CHI®, the company aims to increase its presence in the higher-margin premium market.
- Expand in Home Health and Wellness: Emphasizing the fast-growing home health and wellness market, the company has launched products like CloroxTM True HEPA air purifiers and Brita HubTM water filtration appliances. The recent acquisition of HealthBeacon enhances the company’s offering in digital healthcare solutions.
- Lead in the Global Commercial Market: The company focuses on growing its commercial product line, which includes blending and mixing appliances for restaurants, bars, and hotels. Hamilton Beach products are now sold in over 100 countries.
- Accelerate Digital Transformation: Investments in e-commerce capabilities and digital marketing strategies are aimed at increasing the company’s market share in online sales. This includes partnerships with omni-channel and online-only retailers and enhancing the company’s digital presence.
- Leverage Partnerships and Acquisitions: Hamilton Beach Brands continues to seek strategic partnerships, alliances, and acquisitions to drive growth across all its markets, including health and wellness and commercial sectors.
Financially, Hamilton Beach Brands has shown resilience and strategic growth. Despite economic uncertainties and supply chain challenges, the company has maintained a strong cash flow and has focused on reducing debt and returning value to shareholders through dividends and stock repurchases. Net debt has been significantly reduced from $126.3 million in mid-2022 to $34.6 million by the end of 2023.
Overall, Hamilton Beach Brands continues to invest in innovation, extend its market reach, and strengthen its financial position to create long-term shareholder value.
For more comprehensive updates on the company’s financial performance and other developments, visit www.hamiltonbeachbrands.com.
Hamilton Beach Brands Holding Company (NYSE: HBB) has declared a regular quarterly cash dividend of $0.115 per share for both Class A and Class B Common Stock. The dividend will be paid on December 13, 2024, to stockholders of record as of December 2, 2024. The company operates as a leading designer, marketer, and distributor of branded small electric household appliances, specialty housewares, and commercial products. Their portfolio includes owned consumer brands like Hamilton Beach®, Proctor Silex®, and commercial brands, along with licensed brands such as Wolf Gourmet® and CHI®.
Hamilton Beach Brands Holding Company (NYSE: HBB) has expanded its Board of Directors from 11 to 13 members with the immediate appointment of April L. Lane and Bela S. Mehta. Lane, currently Chief Merchandising Officer at Thrive Market, brings extensive e-commerce experience from roles at Hearst , Amazon, Brands, and Nike. Mehta, Managing Partner at CITG Capital Partners and President of Little Switzerland, contributes financial and operating expertise from her extensive private equity background.
Hamilton Beach Brands reported Q3 2024 results with revenue increasing 2.0% to $156.7 million compared to Q3 2023. Gross profit margin expanded by 190 basis points to 28.0%. Operating profit decreased to $10.6 million from $14.4 million, primarily due to increased SG&A expenses. The company completed the acquisition of HealthBeacon, contributing $1.2 million in new revenue. Net income was $1.9 million ($0.14 per diluted share), compared to $10.3 million ($0.74 per diluted share) in Q3 2023. The company maintains its outlook for 2024, expecting modest revenue growth and significant operating profit increase.
Hamilton Beach Brands Holding Company (NYSE: HBB) has announced it will release its 2024 third quarter financial results and file its 10-Q after market close on Wednesday, October 30, 2024. The company will host a conference call on Thursday, October 31, 2024, at 9:30 a.m. (Eastern Time) to discuss the results. Investors can access the call via telephone using the toll-free number 888-350-3452 or internationally at 647-362-9199 with Conference ID 1809480. A live webcast will also be available on the company's investor relations website.
Hamilton Beach Brands Holding Company (NYSE: HBB) has announced a significant leadership change. Gregory H. Trepp, the current CEO, will retire on December 31, 2024. He will step down from his position and the Board of Directors on September 30, 2024. R. Scott Tidey, currently the President, will succeed Trepp as President and CEO, effective October 1, 2024.
Tidey, with 31 years of experience at the company, has been chosen for his proven executive leadership and successful execution of strategic priorities. The change is part of a long-standing succession plan. Trepp will serve as an Advisor to the CEO until his retirement to ensure a smooth transition.
The company highlights its recent successes, including sales and market share growth of core brands, increasing premium market share, growing presence in the global commercial market, progress in e-commerce, and the creation of a global home healthcare solutions business.
Hamilton Beach Brands Holding Company (NYSE: HBB) has announced a regular cash dividend of $0.115 per share, applicable to both Class A and Class B Common Stock. The dividend will be paid on September 13, 2024, to stockholders of record as of September 3, 2024. HBB is a leading designer, marketer, and distributor of branded small electric household appliances, specialty housewares, and commercial products. The company owns several consumer and commercial brands, including Hamilton Beach®, Proctor Silex®, and Weston®. Additionally, HBB licenses brands such as Wolf Gourmet® and CHI®, and has exclusive agreements for Bartesian® cocktail makers and Numilk® plant-based milk makers. In February 2024, HBB's subsidiary Hamilton Beach Health acquired HealthBeacon, expanding its presence in the home health market.
Hamilton Beach Brands Holding Company (NYSE: HBB) has announced its participation in the 15th Annual Midwest IDEAS Investor Conference in Chicago on August 28-29, 2024. Key company representatives, including CEO Gregory H. Trepp, President R. Scott Tidey, and CFO Sally M. Cunningham, will be attending.
The company's presentation is scheduled for Wednesday, August 28, 2024, at 1:20 p.m. Central Time. Investors and interested parties can access the webcast through the Investor Relations section of Hamilton Beach Brands' website or via the conference host's website. This event provides an opportunity for the company to showcase its performance and strategies to potential investors and analysts.
Hamilton Beach Brands Holding Company (NYSE: HBB) reported strong second quarter 2024 results. Key highlights include:
- Total revenue increased 14.0% to $156.2 million
- Gross profit margin expanded by 590 basis points to 25.9%
- Operating profit significantly increased to $10.0 million from $0.7 million
- Net income rose to $6.0 million, or $0.42 per diluted share
The company expects modest revenue growth and significant operating profit increase for the full year 2024. Hamilton Beach Brands is progressing with six strategic initiatives focused on driving growth, expanding margins, and generating strong cash flow.
Hamilton Beach Brands Holding Company (NYSE: HBB) has announced the dates for its 2024 second quarter earnings release and conference call. The company will release its financial results and file its 10-Q for the quarter ended June 30, 2024, after market close on Wednesday, July 31, 2024. A conference call to discuss the results is scheduled for Thursday, August 1, 2024, at 9:30 a.m. Eastern Time.
Investors can join the call via telephone using the toll-free number 888-350-3452 (International: 647-362-9199) with Conference ID: 1809480. The call will also be webcast live on the company's website, www.hamiltonbeachbrands.com. An archive of the webcast will be available on the site after the call.
The Board of Directors of Hamilton Beach Brands Holding Company (NYSE: HBB) has approved a 4.5% increase in the Company's regular quarterly cash dividend, raising the quarterly amount from $0.11 per share to $0.115 per share. The dividend is payable on both the Class A and Class B Common Stock and will be paid on June 14, 2024, to stockholders of record at the close of business on May 31, 2024. Hamilton Beach Brands Holding Company operates as a leading designer, marketer, and distributor of various household and commercial appliances under different brands. The Company also recently expanded its presence in the home health market through the acquisition of HealthBeacon, a medical technology firm.
FAQ
What is the current stock price of Hamilton Beach Brands Holding Company (HBB)?
What is the market cap of Hamilton Beach Brands Holding Company (HBB)?
What does Hamilton Beach Brands Holding Company do?
Where is Hamilton Beach Brands Holding Company headquartered?
What are some key brands under Hamilton Beach Brands?
What is the company’s strategy for growth?
What recent acquisition did Hamilton Beach Brands make?
How is Hamilton Beach Brands performing financially?
What products does Hamilton Beach Commercial offer?
How is Hamilton Beach Brands addressing the e-commerce market?
What is Hamilton Beach Health?
Where can I find more information about Hamilton Beach Brands?
