AIMC - AIMC STOCK NEWS

Altra Industrial Motion Corp. (AIMC) reported Q3 2021 net sales of $469.3M, a 7.2% increase year-over-year. Organic sales grew 5.8%, with the Power Transmission Technologies segment rising 16%, while Automation & Specialty faced a 2.6% decline. GAAP net income decreased by 7.6% to $35.4M. The company reduced debt by $70M, achieving a leverage ratio of 2.7x. Despite robust demand, supply chain issues continue to affect results, prompting a revision of 2021 guidance, now projecting sales between $1.88B and $1.90B, down from previous estimates.

Altra Industrial Motion Corp. (Nasdaq: AIMC) has announced the retirement of CFO Christian Storch, effective January 31, 2022. Todd B. Patriacca, who has been with the company since 2005, will assume the CFO role on February 1, 2022. Storch expressed confidence in Patriacca's leadership, while Patriacca acknowledged Storch's mentorship. This change comes as Altra continues to navigate various operational challenges and aims to sustain its growth momentum in the market.

Altra Industrial Motion Corp. (AIMC) announced a quarterly cash dividend of $0.08 per share for Q4 2021, marking the 39th consecutive dividend payment in its history. The dividend is set to be paid on January 4, 2022 to shareholders of record as of December 17, 2021. Future dividends are contingent upon the Board of Directors’ approval and must align with the company’s financial health and legal compliance. Altra, a leader in motion control and automation, operates globally with over 9,000 employees across 48 facilities.

Altra Industrial Motion Corp. (AIMC) announced the appointment of La Vonda Williams as a new director, effective October 19, 2021. Williams, currently the CFO of Onegevity Health, brings extensive financial and operational expertise to the board. This appointment is part of a broader initiative to refresh the board's composition, following previous additions in 2020. The board now includes eight members, with seven being independent. Williams holds an M.B.A. from Stanford and a B.S. in Mechanical Engineering from Harvard.

Altra Industrial Motion Corp. (Nasdaq:AIMC) will release its unaudited financial results for the third quarter of 2021 on October 22, 2021, before the market opens. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET, accessible by phone and live webcast. The company, a global leader in motion control and automation products, operates 48 production facilities worldwide and employs over 9,000 people. Detailed charts will be available post-earnings, with a replay of the call accessible until November 5, 2021.

Altra Industrial Motion Corp. (AIMC) reported record Q2 2021 net sales of $488.6 million, a 21.9% increase year-over-year. Organic sales grew 17.2%, driven by strong demand, especially in North America, which saw a 27.3% surge. GAAP net income reached $40.8 million, up 88%, with earnings per diluted share rising 82.4% to $0.62. The company updated its 2021 guidance, projecting sales between $1.89 billion and $1.92 billion and adjusted EBITDA of $395 million to $405 million, reflecting robust demand despite potential inflationary pressures.

Altra Industrial Motion Corp. (AIMC) has announced a quarterly cash dividend of $0.08 per share for Q3 2021, marking the company's thirty-eighth consecutive dividend payment. The dividend will be paid on October 4, 2021, to shareholders recorded by September 17, 2021. Future dividends hinge on the Board's approval and the assessment of the company's financial health. Altra specializes in motion control and power transmission products, operating globally with over 9,000 employees across 48 facilities.

Altra Industrial Motion Corp. (AIMC) will release its unaudited financial results for Q2 2021 on July 23, 2021, before the market opens. An investor conference call is scheduled for the same day at 10:00 a.m. ET, which can be accessed domestically at (866) 209-9085 or internationally at (647) 689-5687. A live webcast will be available on the company's website. Altra operates globally with over 9,000 employees and 48 production facilities across 16 countries, boasting a diversified portfolio of 27 brands.

Altra Industrial Motion Corp. (Nasdaq: AIMC), a global leader in motion control and automation products, announced its participation at the BofA Securities 2021 Transportation, Airlines, and Industrials Conference on May 20th at 1:20 p.m. ET. A live audio webcast of the presentation will be available on Altra's investor relations website, with a replay accessible later. Altra, headquartered in Braintree, Massachusetts, employs over 9,000 individuals and operates 48 production facilities across 16 countries, boasting a portfolio of 27 renowned brands in the industry.