Hamilton Beach Q1 operating loss narrows to $0.9M; gross margin up 710 bps

Hamilton Beach Brands Holding Co

2024-Q1 EPS reported -$0.08 revenue$128,277,000

Revenue flat at $128.3M; gross profit margin improved to 23.4% from 16.3%.
Operating loss of $0.9M vs. $5.1M a year ago; net loss $1.2M ($0.08/share) vs. $4.8M ($0.34/share).
Completed acquisition of HealthBeacon PLC on Feb 2, 2024; added $1.1M operating loss and $1.0M transaction costs.
Net debt reduced to $23.7M from $77.1M a year ago; paid $1.5M in dividends.
Affirmed FY 2024 outlook: modest revenue growth, moderate operating profit increase, upside if consumer spending holds.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hamilton Beach Brands Holding Co reported first quarter ended March 31, 2024 results: revenue $128.3 million, net income Net loss was $1.2 million, or $0.08 per diluted share, EPS $0.08 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $128.3 million
Net income: Net loss was $1.2 million, or $0.08 per diluted share
EPS: $0.08 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

23.4 % 16.3 % Operating profit (loss) $ (0.9) $ (5.1) Cash flow from operating activities $ 19.7 $ 34.9 Total debt $ 50.0 $ 79.3 Net debt $ 23.7 $ 77.1 • Total revenue of $128.3 million was flat to a year ago • Gross profit margin improved 710 basis points to 23.4% compared to 16.3% • Operating loss was $0.9 million versus a loss of $5.1 million a year ago •

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Source: SEC EDGAR

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