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About Burnham Holdings, Inc. (BURCA)
Burnham Holdings, Inc. (OTC-Pink: BURCA) serves as the parent company to a group of leading domestic manufacturers specializing in boilers, furnaces, and related HVAC products. With a diverse portfolio catering to residential, commercial, and industrial markets, Burnham Holdings plays a pivotal role in the HVAC (Heating, Ventilation, and Air Conditioning) industry. Its subsidiaries deliver innovative and reliable climate control solutions, addressing the critical needs for energy efficiency and sustainable heating and cooling systems.
Core Business and Market Focus
At its core, Burnham Holdings drives value through the design, production, and distribution of high-quality HVAC equipment. The company’s product offerings span a wide range of applications, including residential heating systems, commercial boilers for large-scale operations, and industrial-grade solutions tailored to complex environments. Beyond product sales, Burnham Holdings also generates revenue through its service and rental businesses, providing customers with flexible options for HVAC system maintenance and short-term needs. This diversified approach enables the company to maintain a robust presence across multiple market segments.
Industry Position and Competitive Landscape
Burnham Holdings operates within the highly competitive HVAC industry, which is characterized by rapid technological advancements, regulatory requirements, and fluctuating market demands. The company differentiates itself through its extensive manufacturing expertise, strong market share, and commitment to innovation. By investing in capital improvement programs and productivity enhancements, Burnham Holdings ensures its manufacturing processes remain efficient and responsive to customer needs. Its focus on both residential and commercial markets provides a balanced revenue stream, mitigating risks associated with market-specific downturns.
Strategic Initiatives and Resilience
Burnham Holdings demonstrates a proactive approach to navigating industry challenges, including inflationary pressures and supply chain disruptions. By carefully managing its cost structure and leveraging productivity gains, the company has maintained stable margins and operational efficiency. Strategic investments in equipment financing and expanded lending facilities further underscore its commitment to long-term growth and financial stability. Additionally, Burnham Holdings continues to assess and adjust its pricing strategies to align with evolving market conditions, ensuring competitiveness and profitability.
Commitment to Sustainability and Innovation
As the HVAC industry increasingly emphasizes energy efficiency and sustainability, Burnham Holdings remains at the forefront of delivering eco-friendly solutions. Its subsidiaries are dedicated to developing products that meet stringent environmental standards while providing reliable and effective climate control. This commitment not only aligns with industry trends but also positions the company as a trusted partner for customers seeking sustainable heating and cooling systems.
Why Burnham Holdings Matters
Burnham Holdings stands out as a key player in the HVAC industry, combining decades of expertise with a forward-thinking approach to innovation and market adaptation. Its diversified product portfolio, strong market presence, and strategic investments make it a significant contributor to the domestic HVAC landscape. For investors and industry observers, Burnham Holdings represents a company with a solid foundation and the agility to thrive in a dynamic and competitive environment.
GAMCO Asset Management, an affiliate of GAMCO Investors (OTCQX: GAMI), has disclosed ownership of approximately 296,400 shares of Class A common stock in Burnham Holdings (OTCPK: BURCA). This represents approximately 8.93% of Burnham's Class A shares outstanding.
Due to Burnham not being an SEC Registrant, GAMCO's standard procedure of filing a Schedule 13D ownership disclosure form is not possible. This press release serves as an alternative method of ownership notification. GAMCO Investors manages assets through various subsidiaries, including private advisory accounts and mutual/closed-end funds, utilizing their Private Market Value with a Catalyst™ investment approach.
Burnham Holdings (BURCA) reported record financial results for Q4 and full-year 2024. Net sales reached $94.1 million in Q4 2024, up 15.4% year-over-year, while full-year sales hit $270.2 million, increasing 6.8% from 2023.
The company achieved record net income of $12.0 million in 2024, compared to $9.4 million in 2023. Adjusted net income, excluding reserve adjustments, was $15.3 million. Adjusted EBITDA improved to $27.6 million (10.2% margin) from $20.2 million (8.0% margin) in 2023.
Residential product sales grew 3.0% and commercial products increased 8.8% in 2024. The service and rentals business contributed $8.8 million, up from $2.6 million in 2023. The Board declared a quarterly dividend of $0.23 per share, payable March 27, 2025.
Burnham Holdings (OTC-Pink: BURCA) has announced its latest dividend declarations and key corporate updates. The Board of Directors declared a quarterly common stock dividend of $0.23 per share and a semi-annual preferred stock dividend of $1.50 per share, both payable December 30, 2024, with a record date of December 19, 2024.
The company will hold its Annual Meeting virtually on April 28, 2025, at 11:30 a.m. eastern. Additionally, William F. Dodge, II, who served as director since 1999, announced his immediate retirement from the Board of Directors.
Burnham Holdings is a parent company of multiple subsidiaries manufacturing boilers, furnaces, and HVAC products for residential, commercial, and industrial applications.
Burnham Holdings (OTC-Pink: BURCA) reported Q3 2024 financial results with net sales of $64.7 million, an 8.3% increase from Q3 2023. Year-to-date net sales reached $176.1 million. Gross profit margin decreased to 19.3% from 20.5% in Q3 2023. Adjusted diluted earnings per share were $0.37 for Q3 2024, up from $0.17 in Q3 2023. Commercial product sales grew 20.8% while residential sales increased 2.2% in Q3. The company's average debt levels decreased by $10.6 million compared to Q3 2023. Product mix and unplanned downtime negatively impacted gross margins, while SG&A expenses increased due to uninsured litigation settlements.
Burnham Holdings, Inc. (OTC-Pink: BURCA) reported its Q2 2024 financial results and declared a quarterly dividend. Net sales increased 6.2% to $55.4 million in Q2 2024 compared to Q2 2023. Year-to-date net sales were $111.4 million, slightly down from $111.7 million in H1 2023. Gross profit margin decreased to 21.0% in Q2 2024 from 22.2% in Q2 2023, impacted by product mix. Net income for Q2 2024 was $0.8 million, down from $1.0 million in Q2 2023. Diluted EPS for Q2 2024 was $0.18, compared to $0.20 in Q2 2023. Commercial product sales increased 39.0% in Q2 2024, while residential product sales decreased 6.1%. The company declared a quarterly dividend of $0.23 per share.
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