Welcome to our dedicated page for AIRBOSS OF AMERICA news (Ticker: ABSSF), a resource for investors and traders seeking the latest updates and insights on AIRBOSS OF AMERICA stock.
AirBoss of America Corp. (Symbol: ABSSF) is a leading and diversified developer, manufacturer, and provider of innovative survivability solutions, advanced custom rubber compounds, and finished rubber products designed to excel in the most demanding environments. Established in 1989 and headquartered in Newmarket, Ontario, the company operates through two primary divisions: AirBoss Rubber Solutions and AirBoss Manufactured Products.
AirBoss Rubber Solutions is recognized as a top-tier North American custom rubber compounder with an annual capacity of 500 million turn pounds. This division focuses on innovation in custom rubber compounding, aiming to expand its market share through both organic and inorganic growth. It emphasizes a broadening of product offerings through technological advancements and investments in new specialty compounding capabilities.
AirBoss Manufactured Products integrates the former AirBoss Engineered Products and AirBoss Defense Group. This division supplies anti-vibration and rubber-molded solutions to the North American automotive market and other sectors. Additionally, it is a global supplier of personal and respiratory protective equipment and technology for the defense, healthcare, medical, and first responder communities.
Recent achievements underscore AirBoss’s commitment to growth and innovation. The company secured contracts worth up to $57.8 million for its Bandolier multipurpose energetic system, reflecting its expanding footprint in the defense sector. Financially, AirBoss has focused on deleveraging and maintaining robust operations, evidenced by its reduction in borrowings and strategic amendments to its credit facilities to support long-term growth.
For investors and stakeholders, AirBoss presents a solid investment opportunity with its strategic focus on expanding core segments, integrating innovative solutions, and maintaining financial health amidst economic challenges. The company’s shares are publicly traded on the Toronto Stock Exchange under the symbol BOS and on the OTCQX under the symbol ABSSF. For more detailed information, visit www.airboss.com.
AirBoss of America Corp. (OTCQX: ABSSF) reported its Q3 2021 results, citing a strong position despite challenges from COVID-19 and supply chain issues. Highlights include the acquisition of Ace Elastomer for $42.5 million, increased revolving credit facilities up to $250 million, and NIOSH approval for the AirBoss 100™ Half Mask Respirator. However, Q3 net sales dropped 31.2% to $112 million, impacted by $116 million in sales delays. Adjusted EBITDA fell 62.7%. Despite these challenges, AirBoss reaffirmed its 2021 guidance of $630-$710 million in revenues, driven by ongoing demand for PPE.
AirBoss of America Corp. (OTCQX: ABSSF) announced that its subsidiary, AirBoss Defense Group, has shipped remaining nitrile gloves for the U.S. Strategic National Stockpile, valued at up to $288 million. Delivery is expected to complete mainly in Q4 2021 due to production delays in Malaysia and supply chain issues. Q3 2021 revenues are anticipated at $112 million, with Adjusted EBITDA of approximately $13 million. AirBoss received NIOSH approval for its new AirBoss 100™ Half Mask Respirator, enhancing its product lineup for protective equipment. Full Q3 results will be released on November 9, 2021.
AirBoss of America Corp. (OTCQX: ABSSF) has updated its senior secured credit facilities, expanding available credit from USD $150 million to USD $250 million, with an accordion option of USD $75 million. The maturity date is now set for September 23, 2026, eliminating principal payments before maturity. This enhanced credit structure aims to finance working capital needs and support the company's growth strategies. The expanded syndicate includes major banks, providing AirBoss with more favorable terms and increased financial flexibility.
AirBoss of America Corp. (OTCQX: ABSSF) announced participation in the CIBC 20th Annual Eastern Institutional Investor Conference on September 22, 2021. The event will be held virtually, featuring a Fireside Chat at 3:35 PM ET with management and 1x1 meetings with institutional investors. A webcast link will be available post-event on the company's website for those interested in listening to the discussion. AirBoss is a leading manufacturer of innovative survivability solutions, operating across three divisions: Defense, Rubber Solutions, and Engineered Products.
AirBoss of America Corp. announced participation in RBC Capital Markets' Global Industrials Virtual Conference on September 9, 2021. Management will engage in a Fireside Chat at 1:20 p.m. Eastern time and conduct one-on-one meetings with institutional investors. The chat will be webcast live, with a replay available. Interested investors can contact their RBC representative for conference invitations or meeting arrangements. AirBoss specializes in survivability solutions, custom rubber compounds, and engineered products, and is publicly traded under the ticker ABSSF.
AirBoss of America Corp. has successfully acquired Ace Elastomer, Inc. for US$42.5 million in cash, aiming to enhance its position in the custom rubber compounding industry. This acquisition bolsters AirBoss Rubber Solutions’ market share in color and specialty compounding while expanding its customer base in the U.S. South and Mid-West regions. Ace's management team will remain intact, allowing for a smooth integration. This strategic move is expected to facilitate AirBoss's growth in the specialty compounding market, which has been a key target for the company.
AirBoss of America Corp. (OTCQX: ABSSF) updated its 2021 outlook following the acquisition of Ace Elastomer, Inc. The company projects revenues of $630-$710 million, indicating a 25%-41% growth from 2020. Adjusted EBITDA margins are expected between 15.0%-15.5%, with earnings per diluted share estimated at $1.80-$2.19, up 24%-51% year-over-year. Post-acquisition, AirBoss anticipates a 15% increase in sales and a 28% rise in gross profit for AirBoss Rubber Solutions. This strategic move enhances capacity and market reach while minimizing customer overlap.
AirBoss of America Corp. (OTCQX: ABSSF) has announced plans to acquire 100% of Ace Elastomer, Inc. for approximately US$42.5 million, expected to close in Q3 2021. The acquisition will enhance AirBoss Rubber Solutions' (ARS) capacity in color and specialty rubber compounding, expanding its reach in the U.S. market. The deal is anticipated to positively impact EBITDA and earnings per share immediately. Ace's management team will remain post-acquisition, ensuring continuity in operations.
AirBoss of America Corp. (ABSSF) reported remarkable Q2 2021 results, achieving a record diluted EPS of $0.65, up 141% from Q2 2020. The company completed the acquisition of Blackbox Biometrics® and announced a 43% increase in its quarterly dividend to C$0.10 per share. Revenue rose 5.3% YoY to $118.4 million, driven by robust performance in Rubber Solutions and Engineered Products segments. Despite facing challenges from supply chain issues, AirBoss anticipates continued growth and affirmed its 2021 revenue guidance of $630 to $710 million.
AirBoss of America Corp. announced its participation in Canaccord Genuity’s 41st Annual Growth Conference, scheduled for August 12, 2021, at 8:00 am ET. The event will be held virtually, and interested parties can access a live webcast of the management presentation via the provided link. The presentation will be archived for 90 days following the event. AirBoss specializes in innovative survivability solutions and operates through three divisions: Defense, Rubber Solutions, and Engineered Products. Shares are traded under the symbol ABSSF on OTCQX.
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