HBB Q2 revenue falls 7.1% to $137.1M; EPS drops to $0.01 from $0.36

Hamilton Beach Brands Holding Co

2023-Q2 EPS reported -$0.33 revenue$265,361,000

Revenue $137.1M vs $147.5M YoY; gross margin down 170bps to 20.0%.
Net income $0.1M ($0.01 diluted EPS) vs $5.1M ($0.36) prior year.
Operating cash flow $57.3M vs ($25.5M) prior year; net debt reduced to $57.8M from $126.3M.
Full-year 2023 outlook: revenue flat YoY, operating profit to increase excluding $10M insurance recovery.
Repurchased 56,973 shares for $0.6M; paid $1.5M in dividends in Q2.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Hamilton Beach Brands Holding Co reported the second quarter ended June 30, 2023 results: revenue $137.1 million, net income $0.1 million, EPS $0.01 per diluted share. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $137.1 million
Net income: $0.1 million
EPS: $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

compared to full-year 2022, excluding last year's $10 million insurance recovery Results of the Second Quarter 2023 Compared to the Second Quarter 2022 Total revenue was $137.1 million, a 7.1% decrease, compared to $147.5 million, in line with Company expectations. Revenue decreased in the Company's U.S., Latin American and Canadian consumer markets primarily

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Source: SEC EDGAR

accession 0001709164-23-000036

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