$HHS reports annual growth and improved balance sheet in FY2022
Mar 8th 2023, 4:23 pm
Analyst Summary: Harte Hanks has reported annual revenue growth, increased profitability, and improved balance sheet in their latest financial results for the full-year period ended December 31, 2022. The company also expects continued revenue and EBITDA growth in 2023 based on increased demand for its solutions. The increase in profitability has enabled Harte Hanks to materially strengthen its balance sheet and streamline its capital structure by eliminating debt and redeeming preferred shares, reducing almost $15 million in outstanding pension liability. Furthermore, the company expects to receive a federal income tax refund of $5.3 million, which will enhance liquidity. CEO of Harte Hanks, Brian Linscott, expressed confidence in the company's growth based on its differentiated offering and solid relationships with top-tier customers, despite headwinds from pandemic-related projects. Investors may access the webcast at https://investors.hartehanks.com/events or the conference call by dialing (877) 545-0523 in the United States or (973) 528-0016 from outside the U.S. with access code 471821.