Hamilton Beach Brands Reports Strong Q4 & Full-Year 2024 Financial Results

Hamilton Beach Brands Reports Strong 2024 Financial Growth with Increased Revenue & Profitability

📍 Revenue Up 4.6% | Gross Margin Expanded by 300 Basis Points | $65.4M Operating Cash Flow

 Hamilton Beach Brands Holding Company (NYSE: HBB) today announced strong financial results for Q4 and full-year 2024, reflecting consistent revenue growth, improved profitability, and solid operational execution.

“We closed 2024 with strong momentum, meeting internal targets and delivering on our commitment to innovation and market expansion,” said R. Scott Tidey, President and CEO. “Our ability to drive sales in core and high-growth categories while maintaining financial discipline has positioned us for continued success in 2025.”

Q4 2024 Highlights

📈 Revenue Growth – Increased 3.3% to $213.5 million, driven by higher volume and favorable product mix.
📊 Strong Margins – Gross profit reached $55.8 million (26.1% margin), slightly lower due to strategic price adjustments.
💰 Operating Profit – Reported at $23.6 million, reflecting investments in strategic growth initiatives.
🔹 HealthBeacon Acquisition – Contributed $1.7 million in Q4 revenue, accelerating growth in healthcare technology.

Full-Year 2024 Highlights

📈 Total Revenue – Grew 4.6% to $654.7 million, supported by expansion in North American consumer and strategic product innovation.
💡 Record Gross Margin – Expanded 300 basis points to 26.0%, benefiting from lower costs & an optimized product mix.
🚀 Operating Profit Surge – Up 23.1% to $43.2 million, reinforcing financial strength & operational efficiency.
💵 Robust Cash Flow – $65.4 million from operations, fueling investments in growth and shareholder returns.
📉 Lower Interest Expense – Decreased to $0.6 million, reflecting improved capital structure.

🔹 HealthBeacon Impact – Acquisition contributed $4.3 million in 2024 revenue, strengthening Hamilton Beach Health’s connected healthcare technology offerings.

Strategic Outlook for 2025

📍 Market Leadership & Expansion – Expected to outpace industry growth, with revenue approaching mid-single-digit increases.
📊 Profitability Focus – Operating profit is expected to grow faster than revenue, supported by margin stability & expense efficiencies.
📢 Increased Marketing Investment – Strategic brand-building initiatives planned to drive consumer engagement & market share.
💰 Cash Flow Projection – 2025 cash flow from operations (less investing activities) estimated between $40-$50 million.

“With strong financial performance and an expanding portfolio, we’re well-positioned for 2025. Our focus on premium & commercial small appliances, innovation, and healthcare technology will drive continued momentum,” added Tidey.

Investor & Media Information

📢 Earnings Call: 📞 Feb. 26, 2025, at 4:30 PM ET
🔗 Webcast: HamiltonBeachBrands.com
📧 Investor Relations Contact: [email protected]

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