Welcome to our dedicated page for Burnham Cp Cl A news (Ticker: BURCA), a resource for investors and traders seeking the latest updates and insights on Burnham Cp Cl A stock.
Burnham Holdings, Inc. (BURCA) is a leading manufacturer of boilers, furnaces, and HVAC systems serving residential, commercial, and industrial markets. This page provides investors and industry professionals with centralized access to official announcements and strategic updates from the company.
Track critical developments including quarterly earnings reports, product innovations, operational efficiency initiatives, and leadership updates. Our curated collection ensures timely access to filings, press releases, and market-relevant disclosures while maintaining strict factual accuracy.
Key content types include financial performance updates, manufacturing process improvements, strategic partnership announcements, and regulatory compliance information. All materials are sourced directly from company communications to ensure reliability.
Bookmark this page for streamlined monitoring of BURCA's business trajectory within the HVAC sector. Combine regular checks with our email alerts feature to stay informed about material developments affecting your investment analysis.
Burnham Holdings (BURCA) has announced a strategic operational optimization initiative, focusing on winding down production at Crown Boiler in Philadelphia. The move aims to streamline manufacturing operations and enhance production efficiency.
The decision comes as consumer demand shifts towards high-efficiency condensing boilers, such as U.S Boiler's Alta and Velocity's Phantom II. This transition will allow the company to optimize its supply chain and workforce while meeting the growing demand for energy-efficient heating solutions.
The company plans to leverage its Lancaster facility's infrastructure and expertise to improve production flexibility and quality control. During the transition, affected employees will receive support through relocation opportunities, comprehensive outplacement services, and additional resources. Velocity brand products will remain available in the market, and the company ensures all asset transfers will be conducted at fair market value.
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.
