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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 announced the release of its 2023 first quarter financial results along with the filing of its 10-Q for the quarter ending March 31, 2023. This announcement will take place after the market closes on May 3, 2023. A conference call will be held on May 4, 2023, at 9:30 a.m. ET to discuss these results. Interested participants can join the call via telephone or listen to the live webcast available on the company’s website. Hamilton Beach is known for its diverse range of small electric appliances, serving both consumer and commercial markets. The company manages several well-known brands such as Hamilton Beach®, Proctor Silex®, and others.
Hamilton Beach Brands Holding Company (NYSE: HBB) reported Q4 2022 revenue of $196.2 million, nearly flat compared to Q4 2021, with a notable operating profit decline to $11.3 million from $17.9 million due to gross margin contraction. Full-year revenue decreased by 2.6% to $640.9 million, the second highest in its history. The company anticipates flat revenue for 2023 and an increase in operating profit excluding a $10 million insurance recovery. Demand for small kitchen appliances is expected to decrease moderately, particularly in the first half of 2023, as consumers adjust to economic concerns.
Hamilton Beach Brands Holding Company (NYSE: HBB) announced an exclusive multiyear agreement with Numilk to manufacture and sell appliances for non-dairy milk production. The collaboration will focus on creating next-generation appliances expected to launch in early 2024. The market for plant-based milks is rapidly growing, with global sales around $20 billion and U.S. sales anticipated to rise by 10% annually. Scott Tidey, senior vice president of global sales at Hamilton Beach, expressed excitement about the partnership, which aims to deliver high-quality, fresh non-dairy milk solutions while reducing environmental impact.
Hamilton Beach Brands Holding Company (NYSE: HBB) has announced that it will release its 2022 fourth quarter financial results and file its 10-K after market close on March 9, 2023. A conference call to discuss the results is scheduled for March 10, 2023, at 9:30 a.m. ET. Interested participants can join the call by dialing 888-350-3452 (toll-free) or through the webcast available on the company’s website. Hamilton Beach Brands operates a range of brands, including Hamilton Beach® and Proctor Silex®, focusing on small electric household appliances and commercial products.
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