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Hamilton Beach Brands Holding Company announced its first quarter 2024 results, reporting total revenue of $128.3 million, a gross profit of $30.1 million, and an operating loss of $0.9 million. The company affirmed its full-year 2024 outlook with a modest increase in revenue and operating profit. The acquisition of HealthBeacon PLC strengthened the company's position in the medical technology market. Despite challenges in the U.S. and Canadian markets, the company experienced growth in other regions. Cash flow from operating activities decreased to $19.7 million, and total debt was reduced to $50.0 million. Net debt also decreased to $23.7 million. The company's strategic initiatives aim to drive revenue growth and expand margins, focusing on core brand growth, premium market share, health solutions, global commercial market leadership, digital transformation, and strategic partnerships.
Hamilton Beach Brands Holding Company (NYSE: HBB) will release its 2024 first quarter financial results and file its 10-Q on May 7, 2024. A conference call will be held on May 8, 2024, at 9:30 a.m. (Eastern Time) to discuss the results.