AIMC - AIMC STOCK NEWS

Altra Industrial Motion Corp. (Nasdaq: AIMC) hosted its 2022 Investor Day on March 8, 2022, outlining a path to $3 billion in revenue by 2027. CEO Carl Christenson highlighted the company's transformation into a premier market leader in power transmission and motion control. Altra's new financial targets include a consistent organic growth rate of 3-5%, 300 basis points of margin expansion, and over 100% free cash flow conversion through disciplined capital allocation and strategic M&A. The event showcased how Altra's business model supports sustainable, profitable growth and strong cash generation.

Altra Industrial Motion Corp. (Nasdaq: AIMC) will host its 2022 Investor Day on March 8, 2022, beginning at 10:00 a.m. ET. The event, expected to conclude at 12:30 p.m. ET, will feature presentations from CEO Carl Christenson, CFO Todd Patriacca, and other senior leaders. They will discuss the company’s vision, strategy, technology, and growth opportunities. Participants can access the webcast and slides on Altra's investor relations website, with a replay available post-event. Questions can be submitted via the webcast platform.

Altra Industrial Motion Corp. (Nasdaq: AIMC) announced its unaudited Q4 2021 financial results, reporting net sales of $469.8M, a 3.7% year-over-year increase. Organic sales growth reached 4.1%, driven by a 13.0% increase in the Power Transmission Technologies segment. However, the company faced a GAAP net loss of $87.7M, a stark contrast to a profit of $31.2M in Q4 2020. Altra refinanced $1.4 billion, supporting further growth and anticipates 2022 sales between $2.025B and $2.065B. The company also plans to divest its JVS segment.

Altra Industrial Motion Corp. (AIMC) announced a quarterly cash dividend of $0.08 per share for Q1 2022, marking the fortieth consecutive dividend in its history. This dividend will be paid on April 4, 2022, to shareholders on record as of March 17, 2022. Future dividends are subject to Board approval and market conditions. Altra, a leading manufacturer in motion control and power transmission, operates over 48 production facilities globally and employs more than 9,000 people.

Altra Industrial Motion Corp. (Nasdaq:AIMC) plans to release its unaudited financial results for Q4 2021 on February 16, 2022, before market opening. An investor conference call will take place at 10:00 a.m. ET on the same day, accessible via phone and a live webcast. Altra, a global leader in motion control and power transmission products, operates over 48 facilities in 16 countries and employs more than 9,000 people. The company boasts a diverse portfolio comprising 27 recognized brands.

Altra Industrial Motion Corp. (AIMC) has reached an agreement to sell its Jacobs Vehicle Systems (JVS) business to Cummins Inc. for $325 million. JVS generated approximately $193 million in revenue in 2021. This strategic move aligns with Altra's focus on enhancing its portfolio in motion control and power transmission markets. The transaction is pending customary closing conditions and regulatory approvals, with an expected completion by year-end. The sale aims to position JVS for growth under Cummins' ownership, reflecting Altra's commitment to operational efficiency.

Altra Industrial Motion Corp. (AIMC) has acquired Nook Industries, a leader in engineered linear motion, for an undisclosed amount. Nook is projected to generate $42 million in revenue for 2021, and the acquisition is expected to be cash accretive in 2022, excluding transaction costs. Altra anticipates annual cost and sales synergies of $6 million by year four and a tax benefit with a net present value of $12 to $15 million. This strategic move aims to enhance Altra's portfolio in motion control and power transmission markets while creating cross-selling opportunities in medical, factory automation, and defense sectors.

Altra Industrial Motion Corp. (Nasdaq: AIMC) announced a new five-year credit agreement, securing a $400 million term loan and a $1 billion revolving credit facility. The funds will be used to eliminate existing debts and for general corporate purposes, including acquisitions. CEO Carl Christenson remarked that this refinancing could lower annual interest expenses by $4-$5 million while strengthening the company’s balance sheet and enabling growth strategies.

Altra Industrial Motion Corp. (Nasdaq: AIMC) will present at the Wolfe Research Industrial Growth & Technology Conference on November 15, 2021, at 10:15 a.m. ET. Investors can access a live audio webcast of the presentation through the Events & Presentations section of Altra's investor relations website.

Headquartered in Braintree, Massachusetts, Altra is a global leader in manufacturing motion control and automation products, with 27 renowned brands and over 9,000 employees across 48 production facilities worldwide.