GLEN ALLEN, Va., May 2, 2024 /PRNewswire/ -- Hamilton Beach Brands Holding Company (NYSE: HBB) announced today that it will release its 2024 first quarter financial results and file its 10-Q for the quarter ended March 31, 2024, after the close of the market on Tuesday, May 7, 2024.The Company will host a conference call on Wednesday, May 8, 2024, to discuss its results.  Conference Call:          Wednesday, May 8, 2024 Time:                            9:30 a.m. (Eastern Time) Telephone:                    ...

Financial Data and Key Metrics Changes - For the full year 2023, total revenue was $625.6 million, an increase of 2.4% compared to 2022, outperforming the industry which saw a decline of over 5% [8][5] - Operating profit was $35.1 million compared to $38.8 million in the previous year, with net income at $25.2 million or $1.80 per diluted share, slightly down from $25.3 million or $1.81 per diluted share in 2022 [9][5] - Gross profit margin expanded by 290 basis points to 23.0% compared to 20.1% in 2022, attributed to lower product costs and a favorable product mix [24][5] Business Line Data and Key Metrics Changes - Sales of core consumer brands remained even with 2022, despite overall market softness in the first half of the year [12] - Commercial revenue decreased by 15% compared to 2022, following a 50% growth in the previous year, due to overstocking in several markets and unrest in key countries [13][17] - Revenue from premium brands decreased by 4% in 2023 but increased by 10% in the fourth quarter, with premium brands accounting for 15% of total revenue in 2022 [28] Market Data and Key Metrics Changes - Revenue increased in the U.S., Mexican, and Latin American markets, while it decreased in the Canadian market [17] - The global commercial market saw a revenue decrease compared to the fourth quarter of 2022, which had a growth of 57.1% [17] Company Strategy and Development Direction - The company aims to capitalize on strengths in 2024 and beyond, focusing on long-term shareholder value through strategic initiatives [7][25] - The acquisition of Health Beacon is expected to enhance growth opportunities in the home medical market, leveraging Hamilton Beach's brand and innovation capabilities [11][53] - The company plans to expand its presence in the premium market and accelerate digital transformation, with e-commerce sales representing 39% of total revenue in 2023 [29][55] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about carrying strong momentum into 2024, despite a soft first half in 2023 [7][15] - The retail marketplace for small kitchen appliances is expected to be modestly below 2023, but the company anticipates above-market revenue performance due to strategic initiatives [64] - The company is focused on maintaining a strong cash flow and reducing debt while returning value to shareholders through dividends and stock repurchases [6][37] Other Important Information - The company generated cash from operating activities of $88.6 million, the highest in its history, reflecting improvements in working capital [6][35] - Net debt decreased significantly to $34.6 million from $110 million in the previous year [37] Q&A Session Summary Question: What is the long-term commercial opportunity with Health Beacon? - Management views Health Beacon as a subscription services business that helps manage injectable medication regimens, presenting an attractive opportunity for growth as the subscriber base expands [40][41] Question: Will revenue come from selling physical devices or just subscriptions? - Revenue will be generated solely from subscriptions, with devices provided to users in exchange for monthly fees from specialty pharmacy companies [42] Question: What is the distribution plan for Health Beacon in the U.S.? - Health Beacon has established relationships with specialty pharmacy players in the U.S., and the team is well-positioned for market entry [43][44] Question: How will the costs of units be accounted for? - Units will be capitalized as fixed assets, with amortization reflected in the cost of sales, similar to lease accounting [46] Question: What is the outlook for SG&A expenses? - SG&A expenses are expected to remain in the $108 million to $115 million range, with variability based on performance-based compensation and advertising costs [82][84] Question: What is the company's approach to M&A? - The company is open to both small and large acquisitions that align with strategic initiatives, although the flow of opportunities has been low recently [89][90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 001-38214 HAMILTON BEACH BRANDS HOLDING COMPANY (Exact name of registrant as specified in its charter) | Delaware | 31-1236686 | | --- | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________________________________________________________________________________________________________________________________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHAN ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2023 decreased by 7.1% to $137.1 million compared to $147.5 million in Q2 2022, primarily due to lower unit volumes across most markets [46] - Gross profit was $27.4 million, representing 20% of total revenue, down from $32 million or 21.7% in the prior year, attributed to unfavorable customer and product mix and a non-cash lease impairment charge [22] - Net income for Q2 2023 was $100,000 or $0.01 per diluted share, a significant decline from $5.1 million or $0.36 per diluted share in the prior year [48] - Net cash provided by operating activities was $57.3 million compared to cash used of $25.5 million last year, driven by improvements in net working capital [24] Business Line Data and Key Metrics Changes - The commercial business is expected to grow in 2023, driven by new product launches and new distribution [12] - The company introduced over 40 new product platforms across various categories, including single-serve coffee and personal blenders, which are expected to drive revenue in the second half of the year [36] - Selling, general and administrative expenses remained flat at $26.6 million compared to Q2 2022, with higher employee-related expenses offset by lower outside service expenses [47] Market Data and Key Metrics Changes - Revenue declined in the U.S., Latin America, and Canadian markets due to lower unit volume, while revenue increased in Mexico due to new placements [35] - The plant-based milk market is growing rapidly, with U.S. retail sales nearing $3 billion and household penetration estimated at 42% [14] - The global commercial market revenue decreased, attributed to normalization of demand following strong post-pandemic recovery in the foodservice and hospitality sectors [55] Company Strategy and Development Direction - The company is focusing on strategic initiatives to increase revenue, expand operating margins, and generate strong cash flow over time [6] - Partnerships with brands like Numilk and HealthBeacon are aimed at entering new markets and enhancing product offerings in the plant-based and home medical sectors [7][43] - The company plans to launch new products under the Clorox brand, including a countertop steam sanitizer and a humidifier, as well as a new electric countertop water filtration system under the Brita brand [16] Management's Comments on Operating Environment and Future Outlook - Management expects a stronger second half of 2023 due to improved consumer demand and successful product placements [11] - The company remains cautious about potential softness in retailer replenishment orders and customer demand, which could impact outlook [27] - The aging population and increasing demand for personalized healthcare solutions are driving the company's strategy in the home medical market [17] Other Important Information - The company reduced its net debt significantly from $126.3 million in June 2022 to $57.8 million in June 2023 [26] - Capital expenditures for 2023 are expected to be between $4 million and $5 million, reflecting a decrease compared to previous years [25] Q&A Session Summary - There were no audio questions during the Q&A session, and the call concluded with closing remarks from management [28][30]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________________________________________________________________________________________________________________________________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

Hamilton Beach Brands Holding Company (NYSE:HBB) Q1 2023 Earnings Conference Call May 4, 2023 9:30 AM ET Company Participants Lou Anne Nabhan - Head of Investor Relations Greg Trepp - President & Chief Executive Officer Sally Cunningham - Senior Financial Advisor Conference Call Participants Operator Good morning. My name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to the Hamilton Beach Brands First Quarter 2023 Earnings Conference Call. All lines ha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________________________________________________________________________________________________________________________________________ FORM 10-Q HAMILTON BEACH BRANDS HOLDING COMPANY TABLE OF CONTENTS | | | | Page Number | | --- | --- | --- | --- | | Part I. | FINANCIAL INFORMATION | | | | | Item 1 | Financial Statements | | | | | Consolidated Balance Sheets | 2 | | | | Co ...

Hamilton Beach Brands Holding Company (NYSE:HBB) Q4 2022 Results Conference Call March 10, 2023 9:30 AM ET Company Participants Lou Anne Nabhan - Head of Investor Relations Greg Trepp - President and Chief Executive Officer Sally Cunningham - Senior Financial Advisor Conference Call Participants Zachary Beeck - Baird Operator Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Hamilton Beach Brands Holding Company Q4 2022 Earnings Cal ...

Revenue Performance - Revenue for 2022 was $640.9 million, a decrease of $17.4 million or 2.6% compared to 2021, primarily due to lower unit volume in the US, Canadian, and Latin American markets[115]. - The Global Commercial market saw a revenue increase of $20.5 million, or 50.0%, compared to the prior year, driven by a rebound in customer demand[115]. - The company transitioned to a licensing model for its consumer business in Brazil and China, impacting revenue negatively[115]. Profitability and Expenses - Gross profit margin decreased to 20.1% in 2022 from 20.7% in 2021, with price increases partially offsetting higher product and transportation costs[116]. - Selling, general and administrative expenses decreased by $14.6 million, largely due to a $10.0 million insurance recovery recognized in Q1 2022[117]. - Operating profit increased by $7.3 million to $38.8 million, representing a 23.0% increase compared to the previous year[115]. Cash Flow and Financing Activities - Net cash used for operating activities was $3.4 million in 2022, compared to $17.9 million provided in 2021, largely due to a significant increase in net working capital usage[124]. - Net cash provided by financing activities was $5.6 million in 2022, a turnaround from cash used of $7.3 million in 2021, attributed to increased net borrowing activity[125]. Interest and Taxation - Interest expense increased by $1.7 million, primarily due to rising interest rates and increased average borrowings under the revolving credit facility[118]. - The effective income tax rate on continuing operations improved to 22.1% in 2022 from 26.4% in 2021, influenced by the reversal of interest and penalties on unrecognized tax benefits[120]. Debt and Credit Facilities - HBB has a $150.0 million senior secured floating-rate revolving credit facility, with borrowings outstanding of $110.9 million as of December 31, 2022[126][127]. - The excess availability under the HBB Facility was $38.3 million at the end of 2022[127]. - The weighted average interest rate applicable to the HBB Facility for the year ended December 31, 2022, was 3.49%[128]. - HBB has entered into interest rate swap agreements with notional values totaling $100.0 million, with average fixed interest rates of 0.9% and 1.6%[129]. Financial Obligations and Sensitivities - Total contractual cash obligations amount to $361.9 million, with $186.5 million due in 2023[133]. - HBB's variable interest payments on the HBB Facility are estimated at $11.3 million, with $5.6 million due in 2023[133]. - The fair value of HBB's interest rate swap agreements was a receivable of $5.4 million at December 31, 2022[142]. - A hypothetical 10% increase in interest rates would increase the fair value of interest rate swap agreements by $0.3 million[142]. - The fair value of HBB's foreign currency exchange contracts was a net receivable of $0.1 million at December 31, 2022[145]. - Assuming a hypothetical 10% weakening of the U.S. dollar, the fair value of foreign currency-sensitive financial instruments would decrease by $1.2 million[145].