Harte Hanks (HHS) – Building Blocks For Enhanced Growth

Media and Entertainment
0 min read

Friday, November 10, 2023

Harte Hanks (NASDAQ: HHS) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract, and engage their customers. Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world’s premier brands including Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony, and IBM among others. Headquartered in Chelmsford, Massachusetts , Harte Hanks has over 2,500 employees in offices across the Americas, Europe and Asia Pacific .

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q3 results largely in line. Total company revenue weas $47.1 million, in line with our $47.5 million estimate. Total company revenues were essentially flat with Q2 revenue of $47.8 million, which the company views as its baseline quarter. Q3 adj. EBITDA was $4.2 million, a few hundred thousand shy of our $4.8 million adj. EBITDA estimate.

Investing to accelerate growth. We believe that management is putting the pieces together to enhance the company’s long term revenue and adj. EBITDA growth. It has embarked on a strategy to add sales staff and drive efficiencies company wide. We believe that this strategy will pay dividends beginning in the second half 2024, but notably in 2025 as revenues ramp and margins improve. 

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