Hamilton Beach Brands Holding Company Provides Earnings Guidance for the First Half, Second Half and Full Year of 2022
March 10, 2022 at 03:07 am IST
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Hamilton Beach Brands Holding Company announced earnings guidance for the first half, second half and full year of 2022. For the first half of 2022, the Company expects revenue to decrease modestly compared to a very strong first half of 2021 and as issues related to product availability and supply chain constraints continue.
For the second half of 2022, the Company expects revenue to increase moderately, including the benefit of new home health and wellness products that will launch throughout the year, and continued strength of core brands.
For the full year 2022, Hamilton Beach Brands expects continued progress with its strategic initiatives will enable the Company to deliver modest revenue growth compared to 2021. The Company's core business is solid and it expects continued growth in the premium and global commercial markets. The Company expects full-year operating profit to increase compared to 2021, mostly driven by the higher revenue and also due to a modest improvement in gross profit margin.
Hamilton Beach Brands Holding Company is a holding company that operates through its wholly owned subsidiary, Hamilton Beach Brands, Inc. (HBB). HBB is a designer, marketer, and distributor of a range of branded small electric household and specialty houseware appliances, as well as commercial products for restaurants, fast food chains, bars, and hotels. The Company's owned consumer brands include Hamilton Beach, Proctor Silex, Hamilton Beach Professional, Weston, and TrueAir. Its owned commercial brands include Hamilton Beach Commercial and Proctor Silex Commercial. Hamilton Beach Brands licenses the brands for Wolf Gourmet countertop appliances, CHI premium garment care products, Clorox True HEPA air purifiers, and Brita Hub countertop electric water filtration appliances. Its Hamilton Beach Health subsidiary is focused on expanding its participation in the home medical market. Through HealthBeacon PLC, it specializes in developing connected devices in the medical technology market.