Friday, May 10, 2024
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.
Overachieves Q1 expectations. The company reported Q1 revenue of $45.4 million, beating our estimate of $44.8 million by 1.4%. Adj. EBITDA was $2.8 million, which beat our estimate of $2.1 million as illustrated in Figure #1 Results. Notably, the quarter was driven by favorable y-o-y revenue growth in the customer care and sales services segments.
Segment performance. Notably, the company’s sales services segment recorded revenue of $4.7 million in Q1, a significant step up from $2.8 million last year. Customer Care also had a strong quarter, recording $12.4 million in revenue, up from $11.6 million in the prior year period. The company appears to have positive momentum heading into the second quarter.
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