Friday, August 13, 2021
Harte-Hanks Inc. (HRTH)
Here Comes The Sun
Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Over achieves Q2 expectations. Revenues increased a solid 18.4% to $49.3 million, beating our estimate of $44.8 million by 10%. Given tight expense controls, adjusted EBITDA was $4.4 million, an increase of over 800% from the year earlier, out performing our estimate by nearly 100%. Each operating segment contributed to the revenue and adj. EBITDA beat.
Financial profile improves. The forgiveness of its $10 million PPP loan lowered debt levels to $13 million as of June 30, 2021. Notably, the company had $23 million in cash and restricted cash as of June 30 and has the flexibility to completely pay off its long term debt …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
