HAMILTON BEACH BRANDS HOLDING CO, 10-Q filed on 11/5/2025
Quarterly Report
v3.25.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2025
Oct. 31, 2025
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 001-38214  
Entity Registrant Name HAMILTON BEACH BRANDS HOLDING COMPANY  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 31-1236686  
Entity Address, Address Line One 4421 WATERFRONT DR.  
Entity Address, City or Town GLEN ALLEN  
Entity Address, State or Province VA  
Entity Address, Postal Zip Code 23060  
City Area Code (804)  
Local Phone Number 273-9777  
Title of 12(b) Security Class A Common Stock, Par Value $0.01 Per Share  
Trading Symbol HBB  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001709164  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Class A Common stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   9,855,732
Class B Common stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   3,587,420
v3.25.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Current assets      
Cash and cash equivalents $ 17,175 $ 45,644 $ 22,602
Trade receivables, net 83,805 117,068 99,049
Inventory 174,801 124,904 164,802
Prepaid expenses and other current assets 15,466 16,103 18,912
Total current assets 291,247 303,719 305,365
Property, plant and equipment, net 33,172 34,401 35,238
Right-of-use lease assets 35,693 36,049 36,627
Goodwill 7,099 7,099 7,099
Other intangible assets, net 2,160 2,101 2,179
Deferred income taxes 7,556 6,693 2,187
Deferred costs 2,665 16,156 15,434
Other non-current assets 12,790 8,849 4,540
Total assets 392,382 415,067 408,669
Current liabilities      
Accounts payable 106,458 104,161 128,489
Revolving credit agreements 0 0 50,000
Accrued compensation 8,800 18,792 12,622
Accrued product returns 6,452 7,876 6,616
Lease liabilities 5,497 5,193 5,584
Other current liabilities 8,409 18,098 10,130
Total current liabilities 135,616 154,120 213,441
Revolving credit agreements 50,000 50,000 0
Lease liabilities, non-current 37,628 39,008 39,528
Other long-term liabilities 5,090 6,036 5,749
Total liabilities 228,334 249,164 258,718
Stockholders’ equity      
Preferred stock, par value $0.01 per share 0 0 0
Capital in excess of par value 79,242 76,668 77,779
Treasury stock (34,124) (26,202) (21,878)
Retained earnings 126,953 123,863 101,430
Accumulated other comprehensive loss (8,177) (8,577) (7,531)
Total stockholders’ equity 164,048 165,903 149,951
Total liabilities and stockholders’ equity 392,382 415,067 408,669
Class A Common stock      
Stockholders’ equity      
Common stock 118 115 115
Class B Common stock      
Stockholders’ equity      
Common stock $ 36 $ 36 $ 36
v3.25.3
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Statement of Financial Position [Abstract]      
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01
v3.25.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenue $ 132,779 $ 156,667 $ 393,921 $ 441,184
Cost of sales 104,753 112,765 297,993 326,732
Gross profit 28,026 43,902 95,928 114,452
Selling, general and administrative expenses 25,075 33,251 84,560 94,595
Amortization of intangible assets 77 31 233 224
Operating profit (loss) 2,874 10,620 11,135 19,633
Interest (income) expense, net 224 59 273 330
Pension termination expense 0 7,595 0 7,595
Other (income) expense, net 625 298 294 1,354
Income (loss) before income taxes 2,025 2,668 10,568 10,354
Income tax expense (benefit) 372 732 2,657 3,594
Net income (loss) $ 1,653 $ 1,936 $ 7,911 $ 6,760
Basic earnings (loss) per share (in dollars per share) $ 0.12 $ 0.14 $ 0.58 $ 0.48
Diluted earnings (loss) per share (in dollars per share) $ 0.12 $ 0.14 $ 0.58 $ 0.48
Basic weighted average shares outstanding (in shares) 13,488 13,852 13,591 14,042
Diluted weighted average shares outstanding (in shares) 13,508 13,863 13,610 14,056
v3.25.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 1,653 $ 1,936 $ 7,911 $ 6,760
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustment 81 (516) 3,068 (3,481)
Cash flow hedging activity 94 (741) (1,641) 851
Reclassification of hedging activities into earnings (128) (237) (1,080) (756)
Pension plan adjustment 0 695 0 695
Reclassification related to pension termination activity into earnings 0 5,658 48 5,658
Reclassification of pension adjustments into earnings (2) 37 5 169
Total other comprehensive income (loss), net of tax 45 4,896 400 3,136
Comprehensive income (loss) $ 1,698 $ 6,832 $ 8,311 $ 9,896
v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating activities        
Net income (loss) $ 1,653 $ 1,936 $ 7,911 $ 6,760
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:        
Depreciation and amortization     3,772 3,744
Stock compensation expense     2,577 7,381
Pension termination expense 0 7,595 0 7,595
Other     (1,570) 3,206
Net changes in operating assets and liabilities:        
Trade receivables     35,351 34,599
Inventory     (47,634) (43,687)
Other assets     10,856 (3,321)
Accounts payable     1,882 29,425
Other liabilities     (27,786) (10,525)
Net cash provided by (used for) operating activities     (14,641) 35,177
Investing activities        
Expenditures for property, plant and equipment     (2,228) (2,347)
Acquisition of business, net of cash acquired     0 (7,412)
Issuance of secured loan     0 (600)
Repayment of secured loan     0 2,205
Purchase of U.S. Treasury bill     0 (4,884)
Other     (278) 0
Net cash provided by (used for) investing activities     (2,506) (13,038)
Financing activities        
Cash dividends paid     (4,821) (4,728)
Purchase of treasury stock     (7,922) (9,865)
Net cash provided by (used for) financing activities     (12,743) (14,593)
Effect of exchange rate changes on cash, cash equivalents and restricted cash     541 (390)
Cash, cash equivalents and restricted cash        
Increase (decrease) for the period     (29,349) 7,156
Balance at the beginning of the period     46,524 16,379
Balance at the end of the period 17,175 23,535 17,175 23,535
Reconciliation of cash, cash equivalents and restricted cash        
Cash and cash equivalents 17,175 22,602 17,175 22,602
Restricted cash included in prepaid expenses and other current assets 0 63 0 63
Restricted cash included in other non-current assets 0 870 0 870
Total cash, cash equivalents and restricted cash $ 17,175 $ 23,535 $ 17,175 $ 23,535
v3.25.3
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Class A Common stock
Common Stock
Class B Common stock
Capital in Excess of Par Value
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2023 $ 147,267 $ 112 $ 36 $ 70,401 $ (12,013) $ 99,398 $ (10,667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (1,162)         (1,162)  
Issuance of common stock, net of conversions 0 2   (2)      
Purchase of treasury stock (554)       (554)    
Share-based compensation expense 1,904     1,904      
Cash dividends (1,531)         (1,531)  
Other comprehensive income (loss), net of tax (1,060)           (1,060)
Reclassification adjustment to net income (loss) 543           543
Ending balance at Mar. 31, 2024 145,407 114 36 72,303 (12,567) 96,705 (11,184)
Beginning balance at Dec. 31, 2023 147,267 112 36 70,401 (12,013) 99,398 (10,667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 6,760            
Purchase of treasury stock (9,900)            
Ending balance at Sep. 30, 2024 149,951 115 36 77,779 (21,878) 101,430 (7,531)
Beginning balance at Dec. 31, 2023 147,267 112 36 70,401 (12,013) 99,398 (10,667)
Ending balance at Dec. 31, 2024 165,903 115 36 76,668 (26,202) 123,863 (8,577)
Beginning balance at Mar. 31, 2024 145,407 114 36 72,303 (12,567) 96,705 (11,184)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 5,986         5,986  
Purchase of treasury stock (3,985)       (3,985)    
Share-based compensation expense 1,180     1,180      
Cash dividends (1,613)         (1,613)  
Other comprehensive income (loss), net of tax (313)           (313)
Reclassification adjustment to net income (loss) (930)           (930)
Ending balance at Jun. 30, 2024 145,732 114 36 73,483 (16,552) 101,078 (12,427)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 1,936         1,936  
Issuance of common stock, net of conversions 0 1   (1)      
Purchase of treasury stock (5,326)       (5,326)    
Share-based compensation expense 4,297     4,297      
Cash dividends (1,584)         (1,584)  
Other comprehensive income (loss), net of tax (562)           (562)
Reclassification adjustment to net income (loss) 5,458           5,458
Ending balance at Sep. 30, 2024 149,951 115 36 77,779 (21,878) 101,430 (7,531)
Beginning balance at Dec. 31, 2024 165,903 115 36 76,668 (26,202) 123,863 (8,577)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 1,805         1,805  
Issuance of common stock, net of conversions 0 3   (3)      
Purchase of treasury stock (3,373)       (3,373)    
Share-based compensation expense 1,156     1,156      
Cash dividends (1,585)         (1,585)  
Other comprehensive income (loss), net of tax (293)           (293)
Reclassification adjustment to net income (loss) (432)           (432)
Ending balance at Mar. 31, 2025 163,181 118 36 77,821 (29,575) 124,083 (9,302)
Beginning balance at Dec. 31, 2024 165,903 115 36 76,668 (26,202) 123,863 (8,577)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 7,911            
Purchase of treasury stock (7,900)            
Ending balance at Sep. 30, 2025 164,048 118 36 79,242 (34,124) 126,953 (8,177)
Beginning balance at Mar. 31, 2025 163,181 118 36 77,821 (29,575) 124,083 (9,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 4,453         4,453  
Purchase of treasury stock (3,974)       (3,974)    
Share-based compensation expense 852     852      
Cash dividends (1,617)         (1,617)  
Other comprehensive income (loss), net of tax 1,545           1,545
Reclassification adjustment to net income (loss) (465)           (465)
Ending balance at Jun. 30, 2025 163,975 118 36 78,673 (33,549) 126,919 (8,222)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 1,653         1,653  
Purchase of treasury stock (575)       (575)    
Share-based compensation expense 569     569      
Cash dividends (1,619)         (1,619)  
Other comprehensive income (loss), net of tax 175           175
Reclassification adjustment to net income (loss) (130)           (130)
Ending balance at Sep. 30, 2025 $ 164,048 $ 118 $ 36 $ 79,242 $ (34,124) $ 126,953 $ (8,177)
v3.25.3
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]            
Cash dividends (in dollars per share) $ 0.12 $ 0.12 $ 0.115 $ 0.115 $ 0.115 $ 0.11
v3.25.3
Basis of Presentation and Recently Issued Accounting Standards
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation and Recently Issued Accounting Standards Basis of Presentation and Recently Issued Accounting Standards
Basis of Presentation

Throughout this Quarterly Report on Form 10-Q and the notes to unaudited consolidated financial statements, references to “Hamilton Beach Holding”, “the Company”, “we”, “us” and “our” and similar references are to Hamilton Beach Brands Holding Company and its subsidiaries on a consolidated basis unless otherwise noted or as the context otherwise requires. Hamilton Beach Brands Holding Company is a holding company and operates through its indirect, wholly owned subsidiary, Hamilton Beach Brands, Inc., a Delaware corporation (“HBB”).

We are a leading designer, marketer and distributor of a wide range of brand name small electric household and specialty housewares appliances, and commercial products for restaurants, fast food chains, bars and hotels, and a provider of connected devices and software for home healthcare management.

Our operations are managed and reported in two operating segments, each of which is a reportable segment for financial reporting purposes: (1) Home and Commercial Products and (2) Health. During the year ended December 31, 2023, the Company had one operating and one reportable segment. During the fourth quarter of 2024, the Company added a second reportable segment; therefore, certain revenue and significant expenses for the three and nine months ended September 30, 2024 have been recast as shown in Note 9 – Segment Information to these unaudited consolidated financial statements.

The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for the remainder of the year as our revenue typically increases during the second half of the year and peaks during the fourth quarter due to the fall holiday-selling season. Accordingly, quarter-to-quarter comparisons of our past operating results are meaningful only when comparing equivalent time periods, if at all.

We maintain a $125.0 million senior secured floating-rate revolving credit facility (the “HBB Facility”) that expires on December 13, 2029. We believe funds available from cash on hand, the HBB Facility and operating cash flows will provide sufficient liquidity to meet our operating needs and commitments arising during the next twelve months.

Accounting Standards Not Yet Adopted

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which enhances income tax disclosure requirements primarily involving more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The amendments are effective for annual periods beginning after December 15, 2024. The Company plans to adopt the amendments prospectively with retrospective application. The Company is currently in the process of evaluating the impact of the new requirements but does not expect the adoption of this guidance to have a material impact on the Company’s consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, “Income Statement — Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40),” which requires additional information to be disclosed about specific expense categories in the notes to financial statements at interim and annual reporting periods. The amendments are effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently in the process of evaluating the impact of the new requirements.
U.S. Pension Plan Termination
During 2022, the Board approved the termination of our U.S. Pension Plan with an effective date of September 30, 2022. The Company substantially completed the termination in 2024.
During the third quarter of 2024, the Company remeasured the U.S. Pension Plan since benefit obligations were settled through a combination of lump payments to eligible plan participants and the purchase of a group annuity contract in August 2024, under which future benefit obligations were transferred to a third-party insurance company. The remeasurement resulted in pre-tax settlement charges of $7.6 million ($5.7 million post-tax) during the three months ended September 30, 2024, which were released from Accumulated Other Comprehensive Income into earnings and are included within Pension termination expense on the Consolidated Statements of Operations.
During the first quarter of 2025, the Company transferred $13.4 million of surplus assets to a qualified replacement plan which will be used to fund qualifying employee retirement benefits in the future. During the three and nine months ended September 30, 2025, $0.3 million and $4.3 million was used to fund employee retirement benefits, respectively. As of September 30, 2025, the Company had $3.5 million included in prepaid expenses and other current assets (current portion) and $5.8 million included in other non-current assets on the Consolidated Balance Sheets, which is inclusive of accrued interest income.

Accounts Payable - Supplier Finance Program

The Company has an agreement with a third-party administrator to provide an accounts payable tracking system which facilitates a participating supplier’s ability to monitor and voluntarily elect to sell payment obligations owed by the Company to the designated third-party financial institution. Participating suppliers can sell one or more of the Company’s payment obligations at their sole discretion. The Company has no economic interest in a supplier’s decision to sell one or more of its payment obligations. The Company’s rights and obligations with respect to such payment obligations, including amounts due and scheduled payment terms, are not impacted by suppliers’ decisions to sell amounts under these arrangements.

As of September 30, 2025, December 31, 2024 and September 30, 2024, the Company had $54.4 million, $56.9 million and $70.1 million, respectively, in outstanding payment obligations to the third-party financial institution that are presented in accounts payable on the Consolidated Balance Sheets. There is no requirement to provide assets pledged as security or other forms of guarantees under the agreement. The Company pays the third-party financial institution based upon the original payment terms negotiated with participating suppliers. The payment of these obligations by the Company is included in cash used for operating activities in the Consolidated Statements of Cash Flows.

The agreement limits payment obligations owed by the Company but sold by participating suppliers to $65.0 million. Of the amounts owed by the Company referenced above that are presented in accounts payable, participating suppliers have sold $44.4 million, $48.2 million and $60.8 million, as of September 30, 2025, December 31, 2024 and September 30, 2024, respectively.
v3.25.3
Transfer of Financial Assets
 9 Months Ended
Sep. 30, 2025
Transfers and Servicing [Abstract]  
Transfer of Financial Assets Transfer of Financial Assets
The Company has an arrangement with a financial institution to sell certain U.S. trade receivables of a single customer on a non-recourse basis. Under the terms of the agreement, the Company receives cash proceeds and retains no rights or interest and has no obligations with respect to the sold receivables. These transactions, which are accounted for as sold receivables, result in a reduction in trade receivables because the agreement transfers effective control over and risk related to the receivables to the buyer. Under this arrangement, the Company derecognized $35.8 million and $102.4 million of trade receivables during the three and nine months ended September 30, 2025, respectively, $33.5 million and $104.1 million during the three and nine months ended September 30, 2024, respectively, and $149.7 million during the year ended December 31, 2024. The loss incurred on sold receivables in the Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024 was not material. The Company does not carry any servicing assets or liabilities. Cash proceeds from this arrangement are reflected as operating activities in the Consolidated Statements of Cash Flows.
v3.25.3
Fair Value Disclosure
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosure Fair Value Disclosure
The following table presents the Company’s assets and liabilities accounted for at fair value on a recurring basis:
DescriptionBalance Sheet LocationSEPTEMBER 30
2025		 DECEMBER 31
2024		SEPTEMBER 30
2024
Assets:
Interest rate swap agreements
CurrentPrepaid expenses and other current assets$841 $1,144 $798 
Long-termOther non-current assets1,419 2,808 2,141 
Foreign currency exchange contracts
CurrentPrepaid expenses and other current assets— 789 614 
$2,260 $4,741 $3,553 
Liabilities:
Foreign currency exchange contracts
CurrentOther current liabilities675 — 77 
$675 $— $77 

The Company measures its derivatives at fair value using significant observable inputs, which is Level 2 as defined in the fair value hierarchy. The Company uses a present value technique that incorporates the Secured Overnight Financing Rate (SOFR) swap curve, foreign currency spot rates and foreign currency forward rates to value its derivatives, including its interest rate swap agreements and foreign currency exchange contracts. The Company also incorporates the effect of HBB and counterparty credit risk into the valuation.

Other Fair Value Measurement Disclosures

The carrying amounts of cash and cash equivalents, trade receivables and accounts payable approximate fair value due to the short-term maturities of these instruments, with the exception of U.S. Treasury bills classified as cash and cash equivalents which are measured at amortized cost.

The $125.0 million fair value of the HBB Facility, including book overdrafts, which approximate book value, was determined using current rates offered for similar obligations taking into account the Company’s credit risk, which is Level 2 as defined in the fair value hierarchy.

The Company does not hold any Level 3 assets or liabilities and there were no transfers into or out of Levels 1, 2 or 3 during the three and nine months ended September 30, 2025.
v3.25.3
Stockholders’ Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Capital Stock 

The following table sets forth the Company’s authorized capital stock information:
SEPTEMBER 30
2025		DECEMBER 31
2024		SEPTEMBER 30
2024
Preferred stock, par value $0.01 per share
Preferred stock authorized5,000 5,000 5,000 
Preferred stock outstanding— — — 
Class A Common stock, par value $0.01 per share
Class A Common authorized70,000 70,000 70,000 
Class A Common issued (1)(2)
11,849 11,476 11,459 
Treasury Stock (3)
1,980 1,545 1,349 
Class B Common stock, par value $0.01 per share, convertible into Class A Common stock on a one-for-one basis
Class B Common authorized30,000 30,000 30,000 
Class B Common issued (1)
3,587 3,603 3,608 

(1) Class B Common converted to Class A Common were 9 and 16 shares during the three and nine months ended September 30, 2025, respectively, and 3 and 8 during the three and nine months ended September 30, 2024, respectively.

(2) The Company issued Class A Common of 19 and 357 shares during the three and nine months ended September 30, 2025, respectively, and 14 and 290 during the three and nine months ended September 30, 2024, respectively.

(3) On February 21, 2025 and March 5, 2024, a total of 39 and 30 mandatory cashless-exercise-award shares of Class A Common, respectively, were surrendered to the Company by the participants of our Executive Long-Term Equity Incentive Compensation Plan (the “Incentive Plan”) in order to satisfy the participants’ tax withholding obligations with respect to shares of Class A Common awarded under the Incentive Plan.

Stock Repurchase Program: In November 2023, the Company’s Board approved a stock repurchase program for the purchase of up to $25 million of the Company’s Class A Common outstanding starting January 1, 2024 and ending December 31, 2025. During the three and nine months ended September 30, 2025, the Company repurchased 39,333 and 396,065 shares at prevailing market prices for an aggregate purchase price of $0.6 million and $7.2 million, respectively. During the three and nine months ended September 30, 2024, the Company repurchased 221,529 and 441,741 shares at prevailing market prices for an aggregate purchase price of $5.3 million and $9.3 million, respectively. During the year ended December 31, 2024, the Company repurchased 638,381 shares for an aggregate purchase price of $13.5 million (excluding the 1% excise tax as a result of the Inflation Reduction Act of 2022). As of September 30, 2025, the Company had $4.2 million remaining authorized for repurchase.

Additionally, during the nine months ended September 30, 2025 and September 30, 2024, the Company withheld shares for tax payments due upon issuance of stock to employees under the Incentive Plan. During the nine months ended September 30, 2025 and September 30, 2024, the Company repurchased 39,121 and 30,404 shares, respectively, for an aggregate purchase price of $0.7 million and $0.6 million, respectively, pursuant to the Incentive Plan. There were no shares repurchased pursuant to the Incentive Plan during the three months ended September 30, 2025 and September 30, 2024.

The total combined share repurchases from the stock repurchase program and the Incentive Plan during the three and nine months ended September 30, 2025 was 39,333 and 435,186 shares, respectively, for an aggregate purchase price of $0.6 million and $7.9 million, respectively. The total combined share repurchases from the stock repurchase program and the Incentive Plan during the three and nine months ended September 30, 2024 was 221,529 and 472,145 shares, respectively, for an aggregate purchase price of $5.3 million and $9.9 million, respectively.
Accumulated Other Comprehensive Loss: The following table summarizes changes in accumulated other comprehensive loss by component and related tax effects for periods shown:
 Foreign CurrencyDeferred Gain (Loss) on Cash Flow Hedging Pension Plan AdjustmentTotal
Balance, January 1, 2025$(12,279)$3,572 $130 $(8,577)
Other comprehensive income (loss)327 (861)— (534)
Reclassification adjustment to net income (loss)— (654)64 (590)
Tax effects— 415 (16)399 
Balance, March 31, 2025(11,952)2,472 178 (9,302)
Other comprehensive income (loss)2,660 (1,567)— 1,093 
Reclassification adjustment to net income (loss)— (637)7 (630)
Tax effects— 617 — 617 
Balance, June 30, 2025(9,292)885 185 (8,222)
Other comprehensive income (loss)81 114 — 195 
Reclassification adjustment to net income (loss)— (151)(2)(153)
Tax effects— 3 — 3 
Balance, September 30, 2025$(9,211)$851 $183 $(8,177)
Balance, January 1, 2024$(6,412)$2,424 $(6,679)$(10,667)
Other comprehensive income (loss)(1,097)29 — (1,068)
Reclassification adjustment to net income (loss)— 647 94 741 
Tax effects— (167)(23)(190)
Balance, March 31, 2024(7,509)2,933 (6,608)(11,184)
Other comprehensive income (loss)(1,868)2,104 — 236 
Reclassification adjustment to net income (loss)— (1,325)83 (1,242)
Tax effects— (215)(22)(237)
Balance, June 30, 2024(9,377)3,497 (6,547)(12,427)
Other comprehensive income (loss)(516)(944)932 (528)
Reclassification adjustment to net income (loss)— (310)7,649 7,339 
Tax effects— 276 (2,191)(1,915)
Balance, September 30, 2024$(9,893)$2,519 $(157)$(7,531)
v3.25.3
Revenue
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services, which includes an estimate for variable consideration.

The Company’s warranty program to the consumer consists generally of an assurance-type limited warranty lasting for varying periods of up to ten years for electric appliances, with the majority of products having a warranty of one to three years. There is no guarantee to the consumer as the Company may repair or replace, in its discretion, products returned under warranty. Accordingly, the Company determined that no separate performance obligation exists.

Most of the Company’s products are not sold with a general right of return. Subject to certain terms and conditions, however, the Company will agree to accept a portion of products sold that, based on historical experience, are estimated to be returned for reasons such as product failure and excess inventory stocked by the customer. Product returns, customer programs and incentive offerings, including special pricing agreements, price competition, promotions and other volume-based incentives are accounted for as variable consideration.

A description of revenue sources and performance obligations for the Company are as follows:
Consumer and Commercial product revenue
Transactions with both consumer and commercial customers generally originate upon the receipt of a purchase order from a customer, which in some cases are governed by master sales agreements, specifying product(s) that the customer desires. Contracts for product revenue have an original duration of one year or less, and payment terms are generally standard and based on customer creditworthiness. Revenue from product sales is recognized at the point in time when control transfers to the customer, which is either when a product is shipped from a Company facility, or delivered to customers, depending on the shipping terms. The amount of revenue recognized varies primarily with price concessions and changes in returns. The Company offers price concessions to its customers for incentive offerings, special pricing agreements, price competition, promotions or other volume-based arrangements. The Company evaluated such agreements with its customers and determined returns and price concessions should be accounted for as variable consideration.

Consumer product revenue consists of sales of small electric household and specialty housewares appliances to traditional brick and mortar and ecommerce retailers, distributors and directly to the end consumer. A majority of this revenue is in North America.

Commercial product revenue consists of sales of products for restaurants, fast-food chains, bars and hotels. Approximately two-thirds of the Company’s commercial sales is in the U.S., and the remaining is in markets across the globe.

License revenue
From time to time, the Company enters into exclusive and non-exclusive licensing agreements which grant the right to use certain of the Company’s intellectual property (“IP”) in connection with designing, manufacturing, distributing, advertising, promoting and selling the licensees’ products during the term of the agreement. The IP that is licensed generally consists of trademarks, trade names, patents, trade dress, logos and/or products (the “Licensed IP”). In exchange for granting the right to use the Licensed IP, the Company receives a royalty payment, which is a function of (1) the total net sales of products that use the Licensed IP and (2) the royalty percentage that is stated in the licensing agreement. The Company recognizes revenue at the later of when the subsequent sales occur or when the performance obligation is satisfied over time.

Additionally, the Company enters into agreements which grant the right to use software for healthcare management. The Company receives a license payment which is recognized when the performance obligation is satisfied over time or as usage occurs based on the contract with the customer.

Lease revenue
The Company leases connected devices to specialty pharmacy networks and pharmaceutical companies and is accounted for under Accounting Standards Codification 842, Leases as operating leases.

The following table sets forth Company’s revenue on a disaggregated basis for the three and nine months ended September 30:
THREE MONTHS ENDED
SEPTEMBER 30		NINE MONTHS ENDED
SEPTEMBER 30
 2025 202420252024
Type of good or service:
  Consumer products$113,838 $141,862 $340,781 $394,397 
  Commercial products15,493 12,041 42,428 39,914 
  Licensing2,041 1,841 6,809 4,801 
  Leasing1,407 923 3,903 2,072 
     Total revenues$132,779 $156,667 $393,921 $441,184 
v3.25.3
Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies Contingencies
The Company is involved in various legal and regulatory proceedings and claims that have arisen in the ordinary course of business, including product liability, patent infringement, environmental and other claims. Although it is difficult to predict the ultimate outcome of these proceedings and claims, the Company believes the ultimate disposition of these matters will not have a material adverse effect on the financial condition, results of operation or cash flows of the Company. Any costs that the Company estimates will be paid as a result of these claims are accrued when the liability is considered probable and the amount of such costs can be reasonably estimated. The Company does not accrue liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is probable or reasonably possible and which are material, the Company discloses the nature of the contingency and, in some circumstances, an estimate of the possible loss.

Environmental matters

The Company is investigating or remediating historical environmental contamination at some current and former sites operated by the Company or by businesses it acquired. Based on the current stage of the investigation or remediation at each known site, the Company estimates the total investigation and remediation costs and the period of assessment and remediation activity required for each site. The estimate of future investigation and remediation costs is primarily based on variables associated with site clean-up, including, but not limited to, physical characteristics of the site, the nature and extent of the contamination and applicable regulatory programs and remediation standards.

As of September 30, 2025, December 31, 2024 and September 30, 2024, the Company had accrued undiscounted obligations of $3.0 million, $3.9 million and $3.5 million, respectively, for environmental investigation and remediation activities. The Company estimates that it is reasonably possible that it may incur additional expenses in the range of zero to $1.0 million related to the environmental investigation and remediation at these sites. As of September 30, 2025, the Company has a $0.6 million asset associated with the reimbursement of costs associated with two sites.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period.

The effective tax rate was 18.4% and 27.4% for the three months ended September 30, 2025 and 2024, respectively. The effective tax rate was lower for the three months ended September 30, 2025 due to an increase in foreign derived tax benefits, partially offset by a valuation allowance on a capital loss.

The effective tax rate was 25.1% and 34.7% for the nine months ended September 30, 2025 and 2024, respectively. The effective tax rate was lower for the nine months ended September 30, 2025 due to an increase in foreign derived tax benefits and a reduction in foreign losses subject to a valuation allowance, partially offset by a valuation allowance on a capital loss.

On July 4, 2025, the “One Big Beautiful Bill Act” (“OBBBA”) was signed into law, making several provisions of the Tax Cuts and Jobs Act (“TCJA”) permanent including the restoration of 100% bonus depreciation, which was scheduled to phase out in 2027 under the TCJA. The OBBBA also permits immediate expensing of research and development expenditures previously capitalized under the TCJA. In accordance with ASC 740, the Company evaluated the impact of the enacted legislation during the quarter ended September 30, 2025. Based on this assessment, the Company concluded that the effects of the OBBBA were not material to its consolidated financial statements for the period. While the Company is still currently evaluating the full extent of OBBBA’s impact, the OBBBA is expected to reduce the Company’s federal income tax liability and related tax payments for the current and future years but will not have a significant impact to its annual effective tax rate.
v3.25.3
Acquisitions
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
On February 2, 2024, we completed the acquisition of HealthBeacon Limited (“HealthBeacon”), a medical technology firm and strategic partner of the Company, for €6.9 million (approximately $7.5 million). The transaction was funded with cash on hand.

The acquisition of HealthBeacon was accounted for as a business combination using the acquisition method of accounting. The results of operations for HealthBeacon are included in the accompanying Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and in the comparable period from the acquisition date until September 30, 2024. Pro forma financial information has not been presented, as revenue and expenses related to the acquisition do not have a material impact on the Company’s unaudited consolidated financial statements.

The following table sets forth HealthBeacon’s revenue and operating profit (loss) for the three and nine months ended September 30:

THREE MONTHS ENDED
SEPTEMBER 30		NINE MONTHS ENDED
SEPTEMBER 30
 2025 202420252024
Revenue$1,887 $1,119 $5,129 $2,558 
Operating profit (loss)$313 $(1,127)$(1,099)$(3,689)

The purchase price allocation for HealthBeacon was final as of December 31, 2024.

There were no transaction costs during the three and nine months ended September 30, 2025. During the three and nine months ended September 30, 2024, we incurred transaction costs of approximately $0.2 million and $1.3 million, respectively, which are included in selling, general and administrative expenses on the Consolidated Statements of Operations.

The following table presents the final value of assets acquired and liabilities assumed:
Fair Values as of
February 2, 2024
Cash and cash equivalents$147 
Current assets1,452 
Property, plant and equipment, net6,634 
Goodwill847 
Other intangible assets, net1,111 
Total assets acquired10,191 
Liabilities, current2,016 
Liabilities, non-current616 
Total liabilities acquired2,632 
Purchase Price$7,559 
v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s operations are managed and reported in two operating segments, each of which is a reportable segment for financial reporting purposes: (1) Home and Commercial Products and (2) Health. These segments are organized principally by product and service category. The Company’s reportable segments are determined based on (1) financial information reviewed by the chief operating decision maker “CODM”, (2) operational structure of the Company which is designed and managed to share resources across the entire suite of products offered by the business, and (3) the basis upon which the CODM makes resource allocation decisions. The CODM for both segments is the Director, President and Chief Executive Officer of the Company. The CODM utilizes the segment operating profit (loss) to assess profitability and performance of actual results compared to forecasts.

The types of products and services from which each reportable segment derives its revenues are as follows:

Home and Commercial Products
Our Home and Commercial Products segment includes consumer product revenue, primarily concentrated in North America, consisting of sales of small electric household and specialty housewares appliances to traditional brick and mortar and ecommerce retailers, distributors and directly to the end consumer. Also included in this segment is commercial product revenue consisting of sales of products for restaurants, fast-food chains, bars and hotels. Approximately two-thirds of the Company’s commercial sales is in the U.S., and the remaining is in markets across the globe.

Health
Our Health segment is comprised of the HealthBeacon acquisition, as described in Note 8 - Acquisitions, plus selling and administrative expenses. The segment includes lease revenue in the U.S. and globally associated with leases of connected devices to specialty pharmacy networks and pharmaceutical companies, as well as licensing revenue associated with agreements which grant customers the right to use software for healthcare management.

The table below presents the revenues and significant expenses of the two reportable segments along with a reconciliation of segment profit (loss) to consolidated income (loss) before income taxes. During the fourth quarter of 2024, the Company added a second reportable segment; therefore, the revenue and significant expenses for the three and nine months ended September 30, 2024 shown below have been recast. Total assets by segment are not reported as the CODM does not regularly review asset information by segment.

THREE MONTHS ENDED SEPTEMBER 30
20252024
Home and Commercial ProductsHealthTotalHome and Commercial ProductsHealthTotal
Revenue$130,892 $1,887 $132,779 $155,548 $1,119 $156,667 
Less:
Cost of sales104,266 487 104,753 112,450 315 112,765 
Selling, general and administrative expenses23,874 1,201 25,075 31,232 2,019 33,251 
Amortization of intangible assets50 27 77 50 (19)31 
Segment profit (loss)$2,702 $172 $2,874 $11,816 $(1,196)$10,620 
Reconciliation of segment profit or (loss)
Interest (income) expense, net224 59 
Pension termination expense— 7,595 
Other (income) expense, net625 298 
Income (loss) before income taxes$2,025 $2,668 
NINE MONTHS ENDED SEPTEMBER 30
20252024
Home and Commercial ProductsHealthTotalHome and Commercial Products
Health (1)
Total
Revenue$388,792 $5,129 $393,921 $438,626 $2,558 $441,184 
Less:
Cost of sales296,641 1,352 297,993 325,906 826 326,732 
Selling, general and administrative expenses79,302 5,258 84,560 88,512 6,083 94,595 
Amortization of intangible assets150 83 233 150 74 224 
Segment profit (loss)$12,699 $(1,564)$11,135 $24,058 $(4,425)$19,633 
Reconciliation of segment profit or (loss)
Interest (income) expense, net273 330 
Pension termination expense— 7,595 
Other (income) expense, net294 1,354 
Income (loss) before income taxes$10,568 $10,354 

(1) As noted in Note 8 – Acquisitions, the Company completed the acquisition of HealthBeacon on February 2, 2024. Therefore, the 2024 results for the Health segment represent activity from the date of acquisition through September 30, 2024.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Basis of Presentation and Recently Issued Accounting Standards (Policies)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

Throughout this Quarterly Report on Form 10-Q and the notes to unaudited consolidated financial statements, references to “Hamilton Beach Holding”, “the Company”, “we”, “us” and “our” and similar references are to Hamilton Beach Brands Holding Company and its subsidiaries on a consolidated basis unless otherwise noted or as the context otherwise requires. Hamilton Beach Brands Holding Company is a holding company and operates through its indirect, wholly owned subsidiary, Hamilton Beach Brands, Inc., a Delaware corporation (“HBB”).

We are a leading designer, marketer and distributor of a wide range of brand name small electric household and specialty housewares appliances, and commercial products for restaurants, fast food chains, bars and hotels, and a provider of connected devices and software for home healthcare management.

Our operations are managed and reported in two operating segments, each of which is a reportable segment for financial reporting purposes: (1) Home and Commercial Products and (2) Health. During the year ended December 31, 2023, the Company had one operating and one reportable segment. During the fourth quarter of 2024, the Company added a second reportable segment; therefore, certain revenue and significant expenses for the three and nine months ended September 30, 2024 have been recast as shown in Note 9 – Segment Information to these unaudited consolidated financial statements.

The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for the remainder of the year as our revenue typically increases during the second half of the year and peaks during the fourth quarter due to the fall holiday-selling season. Accordingly, quarter-to-quarter comparisons of our past operating results are meaningful only when comparing equivalent time periods, if at all.
Accounting Standards Not Yet Adopted
Accounting Standards Not Yet Adopted

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which enhances income tax disclosure requirements primarily involving more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The amendments are effective for annual periods beginning after December 15, 2024. The Company plans to adopt the amendments prospectively with retrospective application. The Company is currently in the process of evaluating the impact of the new requirements but does not expect the adoption of this guidance to have a material impact on the Company’s consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, “Income Statement — Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40),” which requires additional information to be disclosed about specific expense categories in the notes to financial statements at interim and annual reporting periods. The amendments are effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently in the process of evaluating the impact of the new requirements.
Accounts Payable - Supplier Finance Program
Accounts Payable - Supplier Finance Program
The Company has an agreement with a third-party administrator to provide an accounts payable tracking system which facilitates a participating supplier’s ability to monitor and voluntarily elect to sell payment obligations owed by the Company to the designated third-party financial institution. Participating suppliers can sell one or more of the Company’s payment obligations at their sole discretion. The Company has no economic interest in a supplier’s decision to sell one or more of its payment obligations. The Company’s rights and obligations with respect to such payment obligations, including amounts due and scheduled payment terms, are not impacted by suppliers’ decisions to sell amounts under these arrangements.
v3.25.3
Fair Value Disclosure (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents the Company’s assets and liabilities accounted for at fair value on a recurring basis:
DescriptionBalance Sheet LocationSEPTEMBER 30
2025		 DECEMBER 31
2024		SEPTEMBER 30
2024
Assets:
Interest rate swap agreements
CurrentPrepaid expenses and other current assets$841 $1,144 $798 
Long-termOther non-current assets1,419 2,808 2,141 
Foreign currency exchange contracts
CurrentPrepaid expenses and other current assets— 789 614 
$2,260 $4,741 $3,553 
Liabilities:
Foreign currency exchange contracts
CurrentOther current liabilities675 — 77 
$675 $— $77 
v3.25.3
Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Capital Stock
The following table sets forth the Company’s authorized capital stock information:
SEPTEMBER 30
2025		DECEMBER 31
2024		SEPTEMBER 30
2024
Preferred stock, par value $0.01 per share
Preferred stock authorized5,000 5,000 5,000 
Preferred stock outstanding— — — 
Class A Common stock, par value $0.01 per share
Class A Common authorized70,000 70,000 70,000 
Class A Common issued (1)(2)
11,849 11,476 11,459 
Treasury Stock (3)
1,980 1,545 1,349 
Class B Common stock, par value $0.01 per share, convertible into Class A Common stock on a one-for-one basis
Class B Common authorized30,000 30,000 30,000 
Class B Common issued (1)
3,587 3,603 3,608 

(1) Class B Common converted to Class A Common were 9 and 16 shares during the three and nine months ended September 30, 2025, respectively, and 3 and 8 during the three and nine months ended September 30, 2024, respectively.

(2) The Company issued Class A Common of 19 and 357 shares during the three and nine months ended September 30, 2025, respectively, and 14 and 290 during the three and nine months ended September 30, 2024, respectively.

(3) On February 21, 2025 and March 5, 2024, a total of 39 and 30 mandatory cashless-exercise-award shares of Class A Common, respectively, were surrendered to the Company by the participants of our Executive Long-Term Equity Incentive Compensation Plan (the “Incentive Plan”) in order to satisfy the participants’ tax withholding obligations with respect to shares of Class A Common awarded under the Incentive Plan.
Schedule of Accumulated Other Comprehensive Loss The following table summarizes changes in accumulated other comprehensive loss by component and related tax effects for periods shown:
 Foreign CurrencyDeferred Gain (Loss) on Cash Flow Hedging Pension Plan AdjustmentTotal
Balance, January 1, 2025$(12,279)$3,572 $130 $(8,577)
Other comprehensive income (loss)327 (861)— (534)
Reclassification adjustment to net income (loss)— (654)64 (590)
Tax effects— 415 (16)399 
Balance, March 31, 2025(11,952)2,472 178 (9,302)
Other comprehensive income (loss)2,660 (1,567)— 1,093 
Reclassification adjustment to net income (loss)— (637)7 (630)
Tax effects— 617 — 617 
Balance, June 30, 2025(9,292)885 185 (8,222)
Other comprehensive income (loss)81 114 — 195 
Reclassification adjustment to net income (loss)— (151)(2)(153)
Tax effects— 3 — 3 
Balance, September 30, 2025$(9,211)$851 $183 $(8,177)
Balance, January 1, 2024$(6,412)$2,424 $(6,679)$(10,667)
Other comprehensive income (loss)(1,097)29 — (1,068)
Reclassification adjustment to net income (loss)— 647 94 741 
Tax effects— (167)(23)(190)
Balance, March 31, 2024(7,509)2,933 (6,608)(11,184)
Other comprehensive income (loss)(1,868)2,104 — 236 
Reclassification adjustment to net income (loss)— (1,325)83 (1,242)
Tax effects— (215)(22)(237)
Balance, June 30, 2024(9,377)3,497 (6,547)(12,427)
Other comprehensive income (loss)(516)(944)932 (528)
Reclassification adjustment to net income (loss)— (310)7,649 7,339 
Tax effects— 276 (2,191)(1,915)
Balance, September 30, 2024$(9,893)$2,519 $(157)$(7,531)
v3.25.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table sets forth Company’s revenue on a disaggregated basis for the three and nine months ended September 30:
THREE MONTHS ENDED
SEPTEMBER 30		NINE MONTHS ENDED
SEPTEMBER 30
 2025 202420252024
Type of good or service:
  Consumer products$113,838 $141,862 $340,781 $394,397 
  Commercial products15,493 12,041 42,428 39,914 
  Licensing2,041 1,841 6,809 4,801 
  Leasing1,407 923 3,903 2,072 
     Total revenues$132,779 $156,667 $393,921 $441,184 
v3.25.3
Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Revenue and Operating Profit (Loss)
The following table sets forth HealthBeacon’s revenue and operating profit (loss) for the three and nine months ended September 30:

THREE MONTHS ENDED
SEPTEMBER 30		NINE MONTHS ENDED
SEPTEMBER 30
 2025 202420252024
Revenue$1,887 $1,119 $5,129 $2,558 
Operating profit (loss)$313 $(1,127)$(1,099)$(3,689)
Acquisitions - Schedule of Assets Acquired and Liabilities Assumed
The following table presents the final value of assets acquired and liabilities assumed:
Fair Values as of
February 2, 2024
Cash and cash equivalents$147 
Current assets1,452 
Property, plant and equipment, net6,634 
Goodwill847 
Other intangible assets, net1,111 
Total assets acquired10,191 
Liabilities, current2,016 
Liabilities, non-current616 
Total liabilities acquired2,632 
Purchase Price$7,559 
v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The table below presents the revenues and significant expenses of the two reportable segments along with a reconciliation of segment profit (loss) to consolidated income (loss) before income taxes. During the fourth quarter of 2024, the Company added a second reportable segment; therefore, the revenue and significant expenses for the three and nine months ended September 30, 2024 shown below have been recast. Total assets by segment are not reported as the CODM does not regularly review asset information by segment.

THREE MONTHS ENDED SEPTEMBER 30
20252024
Home and Commercial ProductsHealthTotalHome and Commercial ProductsHealthTotal
Revenue$130,892 $1,887 $132,779 $155,548 $1,119 $156,667 
Less:
Cost of sales104,266 487 104,753 112,450 315 112,765 
Selling, general and administrative expenses23,874 1,201 25,075 31,232 2,019 33,251 
Amortization of intangible assets50 27 77 50 (19)31 
Segment profit (loss)$2,702 $172 $2,874 $11,816 $(1,196)$10,620 
Reconciliation of segment profit or (loss)
Interest (income) expense, net224 59 
Pension termination expense— 7,595 
Other (income) expense, net625 298 
Income (loss) before income taxes$2,025 $2,668 
NINE MONTHS ENDED SEPTEMBER 30
20252024
Home and Commercial ProductsHealthTotalHome and Commercial Products
Health (1)
Total
Revenue$388,792 $5,129 $393,921 $438,626 $2,558 $441,184 
Less:
Cost of sales296,641 1,352 297,993 325,906 826 326,732 
Selling, general and administrative expenses79,302 5,258 84,560 88,512 6,083 94,595 
Amortization of intangible assets150 83 233 150 74 224 
Segment profit (loss)$12,699 $(1,564)$11,135 $24,058 $(4,425)$19,633 
Reconciliation of segment profit or (loss)
Interest (income) expense, net273 330 
Pension termination expense— 7,595 
Other (income) expense, net294 1,354 
Income (loss) before income taxes$10,568 $10,354 

(1) As noted in Note 8 – Acquisitions, the Company completed the acquisition of HealthBeacon on February 2, 2024. Therefore, the 2024 results for the Health segment represent activity from the date of acquisition through September 30, 2024.
v3.25.3
Basis of Presentation and Recently Issued Accounting Standards (Details)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Dec. 31, 2023
segment
Dec. 31, 2024
USD ($)
Basis of Presentation and Policies [Line Items]              
Number of operating segments | segment       2   1  
Number of reportable segments | segment       2   1  
Reclassification related to pension termination activity into earnings, before tax     $ 7,600        
Reclassification related to pension termination activity into earnings, post-tax $ 0   5,658 $ 48 $ 5,658    
Surplus assets that transferred from the plan   $ 13,400          
Employee retirement benefits 300     4,300      
Prepaid expenses and other current assets 3,500     3,500      
Prepaid expenses and other non-current assets 5,800     5,800      
Outstanding payment obligations, current 54,400   70,100 54,400 70,100   $ 56,900
Limit on payment obligations 65,000     65,000      
Settlement of outstanding payment obligations 44,400   $ 60,800 44,400 $ 60,800   $ 48,200
Letter of Credit | HBB Facility              
Basis of Presentation and Policies [Line Items]              
Line of credit facility, maximum borrowing capacity $ 125,000     $ 125,000      
v3.25.3
Transfer of Financial Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Transfers and Servicing [Abstract]          
Accounts receivable derecognized $ 35.8 $ 33.5 $ 102.4 $ 104.1 $ 149.7
Loss on sale of accounts receivable $ 0.0 $ 0.0 $ 0.0 $ 0.0  
v3.25.3
Fair Value Disclosure (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Letter of Credit | HBB Facility      
Liabilities:      
Line of credit facility, maximum borrowing capacity $ 125,000    
Fair value measurements, recurring      
Assets:      
Foreign currency exchange contracts 0 $ 789 $ 614
Assets at fair value 2,260 4,741 3,553
Liabilities:      
Foreign currency exchange contracts 675 0 77
Liabilities at fair value 675 0 77
Fair value measurements, recurring | Prepaid expenses and other current assets      
Assets:      
Interest rate swap agreements 841 1,144 798
Fair value measurements, recurring | Other non-current assets      
Assets:      
Interest rate swap agreements $ 1,419 $ 2,808 $ 2,141
v3.25.3
Stockholders’ Equity - Schedule of Capital Stock (Details)
shares in Thousands
 3 Months Ended 9 Months Ended
Mar. 05, 2025
shares
Feb. 21, 2025
shares
Sep. 30, 2025
$ / shares
shares
Sep. 30, 2024
$ / shares
shares
Sep. 30, 2025
$ / shares
shares
Sep. 30, 2024
$ / shares
shares
Dec. 31, 2024
$ / shares
shares
Class of Stock [Line Items]              
Preferred stock, par value (in dollars per share) | $ / shares     $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01
Preferred stock authorized (in shares)     5,000 5,000 5,000 5,000 5,000
Preferred stock outstanding (in shares)     0 0 0 0 0
Class A Common stock              
Class of Stock [Line Items]              
Common stock, par value (in dollars per share) | $ / shares     $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01
Common stock authorized (in shares)     70,000 70,000 70,000 70,000 70,000
Common stock issued (in shares)     11,849 11,459 11,849 11,459 11,476
Treasury stock (in shares)     1,980 1,349 1,980 1,349 1,545
Class A common shares issued (in shares)     19 14 357 290  
Number of shares surrendered to satisfy tax withholding obligation (in shares) 30 39          
Class B Common stock              
Class of Stock [Line Items]              
Common stock, par value (in dollars per share) | $ / shares     $ 0.01 $ 0.01 $ 0.01 $ 0.01 $ 0.01
Common stock, convertible conversion ratio     1 1 1 1 1
Common stock authorized (in shares)     30,000 30,000 30,000 30,000 30,000
Common stock issued (in shares)     3,587 3,608 3,587 3,608 3,603
Class B common converted to Class A common (in shares)     9 3 16 8  
v3.25.3
Stockholders’ Equity - Stock Repurchase Program (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Nov. 30, 2023
Class of Stock [Line Items]                    
Shares repurchased (in shares) 39,333     221,529     435,186 472,145    
Shares repurchase price $ 575,000 $ 3,974,000 $ 3,373,000 $ 5,326,000 $ 3,985,000 $ 554,000 $ 7,900,000 $ 9,900,000    
2023 Stock Repurchase Program                    
Class of Stock [Line Items]                    
Shares repurchased (in shares) 39,333     221,529     396,065 441,741 638,381  
Shares repurchase price $ 600,000     $ 5,300,000     $ 7,200,000 $ 9,300,000 $ 13,500,000  
Remaining authorized repurchase amount $ 4,200,000           $ 4,200,000      
2023 Stock Repurchase Program | Shares Outstanding Class A                    
Class of Stock [Line Items]                    
Approved repurchase amount                   $ 25,000,000
Incentive Plan                    
Class of Stock [Line Items]                    
Shares repurchased (in shares) 0     0     39,121 30,404    
Shares repurchase price             $ 700,000 $ 600,000    
v3.25.3
Stockholders’ Equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance $ 163,975 $ 163,181 $ 165,903 $ 145,732 $ 145,407 $ 147,267
Other comprehensive income (loss) 195 1,093 (534) (528) 236 (1,068)
Reclassification adjustment to net income (loss) (153) (630) (590) 7,339 (1,242) 741
Tax effects 3 617 399 (1,915) (237) (190)
Ending balance 164,048 163,975 163,181 149,951 145,732 145,407
Accumulated Other Comprehensive Income (Loss)            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance (8,222) (9,302) (8,577) (12,427) (11,184) (10,667)
Ending balance (8,177) (8,222) (9,302) (7,531) (12,427) (11,184)
Foreign Currency            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance (9,292) (11,952) (12,279) (9,377) (7,509) (6,412)
Other comprehensive income (loss) 81 2,660 327 (516) (1,868) (1,097)
Reclassification adjustment to net income (loss) 0 0 0 0 0 0
Tax effects 0 0 0 0 0 0
Ending balance (9,211) (9,292) (11,952) (9,893) (9,377) (7,509)
Deferred Gain (Loss) on Cash Flow Hedging            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance 885 2,472 3,572 3,497 2,933 2,424
Other comprehensive income (loss) 114 (1,567) (861) (944) 2,104 29
Reclassification adjustment to net income (loss) (151) (637) (654) (310) (1,325) 647
Tax effects 3 617 415 276 (215) (167)
Ending balance 851 885 2,472 2,519 3,497 2,933
Pension Plan Adjustment            
AOCI Attributable to Parent, Net of Tax [Roll Forward]            
Beginning balance 185 178 130 (6,547) (6,608) (6,679)
Other comprehensive income (loss) 0 0 0 932 0 0
Reclassification adjustment to net income (loss) (2) 7 64 7,649 83 94
Tax effects 0 0 (16) (2,191) (22) (23)
Ending balance $ 183 $ 185 $ 178 $ (157) $ (6,547) $ (6,608)
v3.25.3
Revenue - Narrative (Details)
 9 Months Ended
Sep. 30, 2025
Commercial products | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | United States  
Disaggregation of Revenue [Line Items]  
Concentration risk, percentage (as percent) 66.66%
Commercial products | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | Non-US  
Disaggregation of Revenue [Line Items]  
Concentration risk, percentage (as percent) 33.33%
Maximum | Electric appliances  
Disaggregation of Revenue [Line Items]  
Warranty term (in years) 10 years
Maximum | Other products  
Disaggregation of Revenue [Line Items]  
Warranty term (in years) 3 years
Maximum | Consumer products  
Disaggregation of Revenue [Line Items]  
Revenue contract duration (in years) 1 year
Maximum | Commercial products  
Disaggregation of Revenue [Line Items]  
Revenue contract duration (in years) 1 year
Minimum | Other products  
Disaggregation of Revenue [Line Items]  
Warranty term (in years) 1 year
v3.25.3
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Leasing $ 1,407 $ 923 $ 3,903 $ 2,072
Total revenues 132,779 156,667 393,921 441,184
Consumer products        
Disaggregation of Revenue [Line Items]        
Revenue 113,838 141,862 340,781 394,397
Commercial products        
Disaggregation of Revenue [Line Items]        
Revenue 15,493 12,041 42,428 39,914
Licensing        
Disaggregation of Revenue [Line Items]        
Revenue $ 2,041 $ 1,841 $ 6,809 $ 4,801
v3.25.3
Contingencies (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
site
Dec. 31, 2024
USD ($)
Sep. 30, 2024
USD ($)
Loss Contingencies [Line Items]      
Accrual for environmental investigation and remediation activities $ 3.0 $ 3.9 $ 3.5
Asset associated with reimbursement of costs $ 0.6    
Loss contingency, number of sites associated with cost reimbursement | site 2    
Minimum      
Loss Contingencies [Line Items]      
Estimate of additional expenses $ 0.0    
Maximum      
Loss Contingencies [Line Items]      
Estimate of additional expenses $ 1.0    
v3.25.3
Income Taxes (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]        
Effective tax rate 18.40% 27.40% 25.10% 34.70%
v3.25.3
Acquisitions - Narrative (Details) - HealthBeacon
€ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Feb. 02, 2024
EUR (€)
Feb. 02, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Asset Acquisition [Line Items]            
Business combination, consideration transferred € 6.9 $ 7.5        
Transaction costs     $ 0.0 $ 0.2 $ 0.0 $ 1.3
v3.25.3
Acquisitions - Schedule of Revenue And Operating Profit (Loss) (Details) - HealthBeacon - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Asset Acquisition [Line Items]        
Revenue $ 1,887 $ 1,119 $ 5,129 $ 2,558
Operating profit (loss) $ 313 $ (1,127) $ (1,099) $ (3,689)
v3.25.3
Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Feb. 02, 2024
Asset Acquisition [Line Items]        
Goodwill $ 7,099 $ 7,099 $ 7,099  
HealthBeacon        
Asset Acquisition [Line Items]        
Cash and cash equivalents       $ 147
Current assets       1,452
Property, plant and equipment, net       6,634
Goodwill       847
Other intangible assets, net       1,111
Total assets acquired       10,191
Liabilities, current       2,016
Liabilities, non-current       616
Total liabilities acquired       2,632
Purchase Price       $ 7,559
v3.25.3
Segment Information - Narrative (Details) - segment
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2023
Segment Reporting [Abstract]    
Number of operating segments 2 1
Number of reportable segments 2 1
v3.25.3
Segment Information - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Revenue $ 132,779 $ 156,667 $ 393,921 $ 441,184
Less:        
Cost of sales 104,753 112,765 297,993 326,732
Selling, general and administrative expenses 25,075 33,251 84,560 94,595
Amortization of intangible assets 77 31 233 224
Operating profit (loss) 2,874 10,620 11,135 19,633
Reconciliation of segment profit or (loss)        
Interest (income) expense, net 224 59 273 330
Pension termination expense 0 7,595 0 7,595
Other (income) expense, net 625 298 294 1,354
Income (loss) before income taxes 2,025 2,668 10,568 10,354
Operating segments        
Segment Reporting Information [Line Items]        
Revenue 132,779 156,667 393,921 441,184
Less:        
Cost of sales 104,753 112,765 297,993 326,732
Selling, general and administrative expenses 25,075 33,251 84,560 94,595
Amortization of intangible assets 77 31 233 224
Operating profit (loss) 2,874 10,620 11,135 19,633
Operating segments | Home and Commercial Products        
Segment Reporting Information [Line Items]        
Revenue 130,892 155,548 388,792 438,626
Less:        
Cost of sales 104,266 112,450 296,641 325,906
Selling, general and administrative expenses 23,874 31,232 79,302 88,512
Amortization of intangible assets 50 50 150 150
Operating profit (loss) 2,702 11,816 12,699 24,058
Operating segments | Health        
Less:        
Cost of sales 487 315 1,352 826
Selling, general and administrative expenses 1,201 2,019 5,258 6,083
Amortization of intangible assets 27 (19) 83 74
Operating profit (loss) 172 (1,196) (1,564) (4,425)
Reconciling Items        
Reconciliation of segment profit or (loss)        
Interest (income) expense, net 224 59 273 330
Pension termination expense 0 7,595 0 7,595
Other (income) expense, net $ 625 $ 298 $ 294 $ 1,354