Steven R. Swartz is president and CEO of the Hearst Corp.
Hearst Corp. / Hearst Corp.The Hearst Corp., the parent of the Houston Chronicle, said it rebounded strongly from the pandemic-driven downturn of 2020 with a record financial performance in 2021.
The privately held company, headquartered in New York, did not release figures, but said it beat the revenues and profits generated in 2019, when the previous record was set, by about 1 percent. In a letter to employees, CEO Steven R. Schwartz said several of its business units, such as the bond rating agency Fitch, had record performances last year.
The newspaper and magazine divisions had “bounce-back years,” Swartz said.
Swartz said the company’s strong performance allowed it to enhance benefits for employees, including additional paid time-off and childcare assistance, and continue an employee bonus program launched in 2019. He said the company will spend about $200 million this year to improve buildings, equipment and technology and continue to seek acquisitions to strengthen the company’s balance sheet.
Over the past decade, Hearst has spent some $12 billion on acquisitions - without adding debt. Last year, its most significant acquisition came when it bought a majority stake in Noregon Systems, an analytics and software firm specializing in the trucking industry.
“From the relentless pandemic to widespread supply shortages, resurgent inflation and the Great Resignation, the world threw a lot at us last year,” Swartz said in his letter. “We helped each other get our work done and maintain our physical and mental health. And we were rewarded for our work in many ways, notable among them that our combined revenue and profit reached all-time highs.”
"corp" - Google News
February 02, 2022 at 10:35PM
https://ift.tt/ZkS90ItEA
Hearst Corp. reports record performance in 2021 - Houston Chronicle
"corp" - Google News
https://ift.tt/KOr2xvT1q
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Hearst Corp. reports record performance in 2021 - Houston Chronicle"
Post a Comment