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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) announced a cash dividend of $0.105 per share, effective for both Class A and Class B Common Stock. The dividend will be paid on March 15, 2023, to stockholders on record as of March 3, 2023. This distribution reflects the company's commitment to returning value to its shareholders, reinforcing investor confidence.
Hamilton Beach Brands Holding Company (NYSE: HBB) has appointed Sally M. Cunningham as Senior Vice President and Chief Financial Officer, effective March 17, 2023. She will join the company on February 13, 2023, as Senior Financial Advisor. Cunningham brings extensive finance experience from her previous roles, including as CFO at Synalloy Corporation. The company's interim CFO, Linda J. Woermer, will serve until Cunningham assumes her role. Cunningham's expertise is expected to enhance Hamilton Beach's financial strategy and growth initiatives, focusing on revenue expansion and strong cash flow generation.
Hamilton Beach Brands Holding Company (NYSE: HBB) has declared a regular cash dividend of $0.105 per share, payable on December 15, 2022. This dividend applies to both Class A and Class B Common Stock and will benefit stockholders of record as of the close of business on December 1, 2022. The company is a prominent player in the small electric kitchen appliance market, with a diverse portfolio of consumer and commercial brands.
Hamilton Beach Brands Holding Company (NYSE: HBB) announced the resignation of CFO Michelle O. Mosier, effective January 13, 2023. Mosier will take on the Chief Financial Executive role at another public firm. CEO Gregory H. Trepp recognized her contributions and leadership, highlighting her role in positioning the company for growth. The company will initiate a search for her successor immediately. Hamilton Beach is known for its diverse range of household and commercial appliances, with brands including Hamilton Beach® and Proctor Silex®.
Hamilton Beach Brands Holding Company (NYSE: HBB) reported a 3.8% decrease in revenue for Q3 2022, totaling $150.8 million. This decline was attributed to lower consumer sales, though commercial sales increased by 35.8%. Operating profit rose to $9.4 million, partly due to improved gross profit margins and reduced SG&A expenses. The company anticipates a slight revenue decrease for the full year but expects a significant rise in operating profit. E-commerce sales accounted for 34.5% of total revenue, highlighting a growing demand in this segment.
Hamilton Beach Brands Holding Company (HBB) is set to release its 2022 third quarter financial results and file its 10-Q on November 2, 2022, after market close. A conference call to discuss the results will take place on November 3, 2022, at 9:30 a.m. ET. Interested participants can join the call by dialing 888-350-3452 (toll-free) or 647-362-9199 for international calls. The call will also be available via webcast on the company’s website.
Hamilton Beach Brands Holding Company (NYSE: HBB) announced a regular cash dividend of $0.105 per share, payable on September 15, 2022. Stockholders of record as of the close of business on September 1, 2022, will receive this dividend on both Class A and Class B Common Stock. The company, known for its extensive range of small electric appliances and commercial products, continues to demonstrate its commitment to returning value to its shareholders.
Hamilton Beach Brands Holding Company (NYSE: HBB) will participate in the Midwest IDEAS Investor Conference on August 24-25, 2022, in Chicago. CEO Gregory H. Trepp and CFO Michelle O. Mosier are scheduled to present on August 24 at 10:15 a.m. Central Time. The presentation will be accessible via webcast through the company's Investor Relations website and the conference host's site. Hamilton Beach Brands is known for a variety of small household and commercial appliances.
Hamilton Beach Brands Holding Company (HBB) reported a 4.6% revenue decline to $147.5 million in Q2 2022, attributed to decreased consumer market sales, partially offset by a 37.3% rise in global commercial sales.
Operating profit surged to $5.4 million, thanks to improved gross profit margins and reduced SG&A expenses. Despite a drop in year-to-date operating cash flow to -$25.5 million, the company expects modest revenue growth and significant operating profit increases for the full year. Key strategic initiatives focus on premium market expansion, global growth, and digital transformation.
Hamilton Beach Brands Holding Company (HBB) will announce its 2022 second quarter financial results on August 3, 2022, after market close. The earnings report will include its 10-Q filing for the quarter ending June 30, 2022. A conference call is scheduled for August 4, 2022, at 11:00 a.m. ET to discuss the financial outcomes. Investors can access the conference call via telephone at 844-200-6205 (U.S.) or 929-526-1599 (international) with access code 733621.
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