Stockspy 1.813/28/2023 ![]() Total revenue of $640.9 million, the second highest in the history of Hamilton Beach Brands, decreased 2.6% compared to a record $658.4 million in 2021. Net income was $7.1 million, or $0.51 per diluted share, compared to net income of $12.6 million, or $0.90 per diluted share.įull Year 2022 Compared to Full Year 2021 Interest expense, net increased by $0.9 million to $1.7 million, due primarily to rising interest rates, as well as increased average borrowings outstanding under the Company’s revolving credit facility. Operating profit was $11.3 million compared to $17.9 million. Selling, general and administrative expenses decreased to $22.8 million compared to $25.1 million, primarily due to lower environmental expense and lower expenses for temporary workers and outside services. Gross profit margin was 17.4% compared to 21.8%. This short-term contraction was primarily due to holiday promotions offered in response to soft consumer consumption trends and other efforts to reduce inventory levels. Gross profit was $34.1 million compared to $43.1 million. Revenue in the ecommerce channel accounted for 44.9% of total revenue and increased 0.4%. In the premium market, revenue increased 14.5%. This growth reflects a continued strong rebound in the food service and hospitality industries from pandemic-driven demand softness as well as the Company’s new products, line extensions and sales initiatives. In the global commercial market, revenue increased $6.0 million, or 57.1%. Consumer revenue overall was below expectations due to softer than anticipated consumer pull-through and retailer reorders during the holiday selling season. and Mexican consumer markets, while revenue decreased in the Latin American and Canadian consumer markets. Revenue increased in the global commercial market and in the U.S. Lower unit volume was offset by higher prices and a favorable product mix. Total revenue of $196.2 million compared to $197.8 million in the fourth quarter of 2021. ![]() For the full year 2023, Hamilton Beach Brands expects total revenue to be flat to 2022 and operating profit to increase, excluding the insurance recovery in 2022įourth Quarter 2022 Compared to Fourth Quarter 2021.Demand for small kitchen appliances in 2023 is expected to decrease moderately compared to 2022, especially in the first half of the year, as consumers continue to calibrate spending in response to inflation and economic concerns.The Company effectively managed elevated inventory levels during the year and significantly reduced inventory and debt in Q4 2022.Full-year 2022 operating profit was $38.8 million, including a $10.0 million insurance recovery, compared to $31.5 million in 2021.Full-year 2022 revenue of $640.9 million, the second highest in the history of Hamilton Beach Brands, compared to a record $658.4 million in 2021.Q4 2022 operating profit was $11.3 million compared to $17.9 million in Q4 2021, reflecting short-term gross profit margin contraction, primarily due to holiday promotions, partially offset by lower SG&A expense.and Mexican consumer markets was offset by decreased revenue in the Latin American and Canadian markets Q4 2022 revenue of $196.2 million was nearly flat to Q4 2021, as increased revenue in the global commercial, U.S.More reliable alerts, more accurate market prices, and bug fixes.GLEN ALLEN, Va., Ma/PRNewswire/ - Hamilton Beach Brands Holding Company ( NYSE: HBB), which operates through its wholly-owned subsidiary Hamilton Beach Brands, Inc., today announced results for the fourth quarter and full year 2022. Questions or comments? Let us know: We aim to be the best stock market app for Android □ ![]() ★ Advanced features including ROA, ROE, cash flow including FCF and OCF per share, revenue growth, P/B, asset turnover, leverage, stocks tracker, forward P/E, and PEG ratio ★ Stock market news for tickers listed in US stock markets ★ Stock charts and including daily and intraday charts, plus weekly, monthly, and yearly historical charts ★ Financial data including open price, close price, daily high/low, 52-week high/low, gain/loss, aftermarket and premarket, end-of-day quote, EPS, P/E ratio, dividend, and dividend yield ★ Multiple portfolios to monitor your investments ★ Stock alerts and notifications for stocks on your watch list ★ Build your own portfolio and monitor your favorite stocks, indexes, mutual funds, and ETFs ★ Real-time stock quotes for NYSE, NASDAQ, Dow Jones, ETFs, Indices, S&P 500, and more! Live market data from NYSE, Dow 30, S&P, and more.īuild your portfolio and get stock price alerts with the best stock market app for Android. Stock Market Tracker helps you track your portfolio and watch US stocks and the global stock market.
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