Harte Hanks Stock Price, News & Analysis

Harte Hanks (NASDAQ:HHS) reported its Q4 and full-year 2024 financial results, showing revenue declines across all segments. Q4 revenue decreased 4.8% to $47.1 million, while full-year revenue fell 3.3% to $185.2 million compared to 2023.

Q4 resulted in a net loss of $2.4 million ($0.33 per share), impacted by $3.2 million in impairment charges related to the InsideOut acquisition. Full-year 2024 saw a net loss of $30.3 million ($4.15 per share), primarily due to $37.5 million in pension plan termination charges.

The company ended 2024 with $9.9 million in cash, zero debt, and a fully terminated Pension Plan I. Segment performance showed Customer Care revenue at $15.0 million (-1.5% YoY), Fulfillment & Logistics at $20.8 million (-2.7% YoY), and Marketing Services at $11.3 million (-12.1% YoY).

Harte Hanks (NASDAQ:HHS) announced a strategic leadership transition as CEO Kirk Davis steps down after 19 months for personal reasons. David Fisher, previously Chief Transformation Officer and leader of Project Elevate, will serve as Interim Chief Operating Officer to ensure operational continuity.

During his tenure, Davis contributed to transforming the company into an integrated customer experience organization. Fisher, who has been instrumental in modernizing Harte Hanks' technology infrastructure and data capabilities during his 18-month tenure, will lead the company while a search for a permanent CEO is conducted.

The company is engaging a leading executive search firm to identify a new CEO with expertise in artificial intelligence and data-driven business transformation. The transition aims to accelerate innovation in data-driven customer experience solutions, building on the company's century-long expertise in customer data.

Harte Hanks (NASDAQ:HHS) has announced a collaboration with Reddy, an AI-powered contact center coaching and training platform. The partnership aims to enhance Harte Hanks' global call center operations through improved agent onboarding, automated training, and feedback systems.

Reddy's platform offers simulation training, copilot technology for real-time agent assistance, and call monitoring capabilities. Early implementation shows positive trends in agent and customer satisfaction rates. The collaboration focuses on using AI to enhance agent performance rather than replace human workers, targeting more personalized customer interactions and improved client results.

Harte Hanks reported Q3 2024 financial results with total revenues of $47.6 million, up 1.1% from Q3 2023. Operating income was $1.9 million, down from $2.9 million year-over-year. Net income was $0.1 million ($0.02 per share), compared to $0.6 million ($0.09 per share) in Q3 2023. The company expects low to mid-single-digit revenue contraction in Q4 due to program changes by some customers. Customer Care and Sales Services segments showed growth, while Fulfillment & Logistics and Marketing Services segments declined. The company ended Q3 with $5.9 million in cash and no outstanding debt.

Harte Hanks (NASDAQ:HHS) has scheduled its third quarter 2024 financial results release for November 14, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. EDT the same day to discuss the results. Investors can join via webcast or by dialing 888-506-0062 (US) or 973-528-0011 (international) using access code 687861. A replay will be available through November 28, 2024, accessible by dialing (877) 481-4010 (US) or (919) 882-2331 (international) with passcode 51436.

Harte Hanks (NASDAQ:HHS) has announced a leadership transition in its sales organization. Jason Chapman has been appointed as Interim Global Head of Sales and Marketing, replacing Kelly Waller, who is stepping down due to personal reasons. Chapman, with experience from companies like Bain & Company and SAP SE, brings expertise in driving business transformation and leading global go-to-market teams.

CEO Kirk Davis praised Waller's contributions, noting her role in reshaping the sales organization, fostering a customer-centric approach, and significantly growing the sales pipeline. Chapman expressed enthusiasm for building on these accomplishments and accelerating sustainable growth. The transition comes as Harte Hanks enters the final stretch of 2024 from a position of strength.

Harte Hanks (NASDAQ:HHS) has announced a collaboration with Outreach, a leading execution platform for intelligent revenue workflows. This partnership aims to deliver enhanced turnkey sales solutions by integrating their strengths in customer relationship management and end-user experiences. Harte Hanks will incorporate Outreach's platform into its Demand Generation in a Box product to improve client sales efforts.

The collaboration includes joint marketing initiatives and co-branded campaigns to reach a wider audience. Outreach's AI-powered platform, built on extensive sales data, helps revenue teams design, measure, and improve seller workflows. This partnership is expected to provide Harte Hanks with a competitive edge in delivering strategic expertise and cutting-edge technology for sales success.

Harte Hanks (NASDAQ:HHS) has appointed Sharona Sankar-King as its new Chief Customer and Data Officer. Sankar-King, joining from Bain & Company, brings extensive experience in customer engagement, marketing, and data analytics. She will be based in New York, reporting directly to CEO Kirk Davis.

Sankar-King's expertise includes leveraging data assets, expanding client relationships, and developing new solutions for growth. Her background spans consulting, customer success management, and advanced analytics across various industries. She has co-authored a Harvard Business Review article on Generative AI approaches and is recognized for helping companies implement AI strategies.

Prior to Bain, Sankar-King held leadership positions at BBDO, MEC (Wavemaker), Experian, and other prominent firms. She holds a Master of Applied Statistics from Columbia University and a Bachelor of Science in Psychology from Pennsylvania State University.

Harte Hanks (NASDAQ:HHS) reported Q2 2024 results, showing a 5.7% decrease in total revenues to $45.0 million compared to Q2 2023. The company ended the quarter with a cash balance of $11.0 million and no debt. Operating income was $1.4 million, down from $1.7 million in the same quarter last year. Harte Hanks recorded a net loss of $27.8 million, or $3.84 per share, primarily due to $38.2 million in pension termination charges.

Key highlights include the appointment of Sharona Sankar-King as Chief Customer and Data Officer, completion of sales transformation in April, and progress on cost-saving initiatives from Project Elevate. The company's Sales Services segment saw a 92.2% increase in revenue, while Customer Care and Marketing Services segments experienced declines.