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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 5% increase in its quarterly cash dividend, raising it from $0.10 to $0.105 per share. This adjustment reflects the company's commitment to providing returns to its shareholders. The new dividend will be payable on June 15, 2022, to shareholders of record by June 1, 2022. Hamilton Beach Brands is known for its wide range of small electric household appliances and has a strong brand presence in both consumer and commercial markets.
Hamilton Beach Brands Holding Company (NYSE: HBB) reported Q1 2022 revenue of $146.4 million, a 1.9% decline from Q1 2021, attributed to softer demand. Operating profit surged to $12.7 million, aided by a $10 million insurance recovery. The company anticipates modest annual revenue growth, supported by solid demand for small kitchen appliances, particularly in global markets. However, challenges include rising product costs and supply chain issues. Net income increased to $7.2 million, or $0.51 per diluted share. The firm is focusing on launching new products in health and wellness, aiming for long-term value creation.
Hamilton Beach Brands Holding Company (NYSE: HBB) will release its 2022 first quarter financial results and file the 10-Q for the quarter ending March 31, 2022, post-market on May 4, 2022. A conference call is scheduled for May 5, 2022, at 9:30 a.m. ET to discuss the results. Investors can access the call via the company's website, where a webcast archive will also be available.
Hamilton Beach Brands, Inc. has launched the first products in its new line of premium air purifiers under the Clorox® brand, following a multiyear licensing agreement with The Clorox Company. This initiative aims to expand Hamilton Beach's footprint in the rapidly growing home health and wellness market, which was valued at approximately $1.1 billion for air purifiers in the U.S. in 2021. The initial offerings include a Clorox® Large Room True HEPA Air Purifier and a Clorox® Tabletop True HEPA Air Purifier, available through major retailers. More products are expected soon.
Hamilton Beach Brands, a subsidiary of Hamilton Beach Brands Holding Company (NYSE: HBB), has entered into an exclusive multiyear trademark licensing and product development agreement with Brita, a leader in at-home water filtration. This partnership aims to launch a new line of countertop water appliances later this year, promoting sustainable water filtration solutions. The collaboration is expected to tap into the growing demand for home health and wellness products, a market valued in the multibillion-dollar range. The agreement aligns with Hamilton Beach's strategy to innovate and expand its product offerings in health-focused categories.
Hamilton Beach Brands and HealthBeacon have launched the world’s first FDA cleared Smart Sharps Bin for managing injectable medications in the U.S. This innovative product is now available through a direct-to-consumer website and on Amazon. With a focus on enhancing patient care, the Smart Sharps Bin features intelligent reminders and secure disposal options. The companies anticipate expanding distribution further, including a launch in Canada planned for 2023. This partnership aims to support patients self-administering injections for chronic conditions.
Hamilton Beach Brands Holding Company (HBB) reported a 15.5% decline in Q4 2021 revenue to $197.8 million, following record high revenue in Q4 2020 due to backlog fulfillment and supply chain constraints. Despite this, full-year 2021 revenue reached a record $658.4 million, a 9.1% increase. The company expects modest revenue growth in 2022, driven by strategic initiatives and new product launches in home health and wellness, alongside ongoing challenges from supply chain issues and rising costs. Net income for 2021 was $21.3 million or $1.53 per diluted share.
Hamilton Beach Brands Holding Company (NYSE: HBB) will announce its 2021 fourth quarter financial results and file its 10-K after market close on March 9, 2022. A conference call is scheduled for March 10, 2022, at 9:30 a.m. ET to discuss these results. Investors and analysts can access the call via telephone or through a live webcast available on the company's website. This communication provides updates on key upcoming financial disclosures for stakeholders.
Hamilton Beach Brands Holding Company (NYSE: HBB) has declared a cash dividend of $0.10 per share, payable on March 15, 2022, to stockholders of record by March 4, 2022. Additionally, the Board approved a new stock repurchase program allowing for the buyback of up to $25 million of Class A Common Stock until December 31, 2023. This follows a previous program that repurchased 364,893 shares for $6 million. Management will decide on specific repurchase amounts based on market conditions and capital availability.
Hamilton Beach Brands Holding Company (NYSE: HBB) announced a regular cash dividend of $0.10 per share, payable on December 15, 2021. This dividend applies to both Class A and Class B common stock, with stockholders of record as of December 1, 2021 eligible for payment. The company is renowned for its diverse range of small electric household and specialty appliances, serving both consumer and commercial markets.
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