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Hamilton Beach Brands Holding Company reports news on a branded small-appliance and specialty housewares business serving consumer and commercial markets. The company designs, markets and distributes products under owned brands including Hamilton Beach, Proctor Silex, Weston, Hamilton Beach Professional, Lotus, Hamilton Beach Commercial and Proctor Silex Commercial, and it also licenses brands for selected garment care and home-appliance categories.
Recurring updates include quarterly and annual results, gross margin and revenue trends, consumer demand, commercial product activity, healthcare-management devices and software through Hamilton Beach Health, and capital returns through dividends and Class A common stock repurchases. Company announcements also cover investor presentations and agreements to design, sell, market and distribute Numilk plant-based milk makers and Sunkist commercial juicers and sectionizers.
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.