Hamilton Beach B Stock Price, News & Analysis

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.

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.