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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.
Burnham Holdings, Inc. (OTC-Pink: BURCA) held its Annual Meeting on April 25, 2022, where stockholders approved the election of three directors and appointed Baker Tilly US, LLP as independent auditors for 2022. The Board declared a regular quarterly common stock dividend of $0.22 per share and a semi-annual preferred stock dividend of $1.50 per share, both payable on June 14, 2022, with a record date of June 7, 2022. These actions reflect the company’s ongoing commitment to shareholder returns while maintaining governance structures.
Burnham Holdings, Inc. (OTC-Pink: BURCA) reported a net loss of $0.8 million for Q1 2022, compared to a loss of $0.6 million in Q1 2021. However, net sales rose 19.2% to $52.4 million due to strong demand for heating equipment. Gross profit was stable at 15.9% of sales, with higher expenses from interest and inflation affecting profitability. Total debt increased by $11.2 million to $30.9 million, primarily due to material cost inflation. First-quarter results typically represent only 20% of the annual total, warranting caution in interpreting financial outcomes.
Burnham Holdings, Inc. (OTC-Pink: BURCA) reported financial results for the year ended December 31, 2021. Net sales reached $218.5 million, a 16.5% increase from 2020, driven by improved winter weather and recovering demand post-COVID-19. However, gross profit declined to $35.0 million, a 9.1% drop, largely due to rising material costs. Net income fell 85% to $1.0 million. The company declared a quarterly dividend of $0.22 per share, payable on March 11, 2022. The annual meeting is scheduled for April 25, 2022.
Burnham Holdings, Inc. (OTC-Pink: BURCA) announced dividends for common and preferred stock on December 9, 2021. A quarterly common stock dividend of $0.22 per share and a semi-annual preferred stock dividend of $1.50 per share were declared, both payable on December 30, 2021, with a record date of December 23, 2021. Additionally, the company’s Annual Meeting is scheduled for April 25, 2022. Due to potential COVID-19 restrictions, the meeting may be virtual, with further details to be provided in March 2022.
Burnham Holdings, Inc. (BURCA) reported Q3 2021 financial results showing a net sales increase of $4.6 million (9.5%) year-over-year, with YTD sales climbing 19.3% to $140.8 million. Despite higher sales, the company faced a net loss of $1.34 million compared to a profit of $1.47 million in Q3 2020. Gross profit margin also declined to 12.6% from 18.5% due to rising raw material costs and manufacturing inefficiencies. The commercial product backlog grew by $6.6 million, indicating potential future revenue growth.
On July 22, 2021, Burnham Holdings, Inc. announced the appointment of Christopher E. Pruitt to its Board of Directors, effective September 1, 2021. Mr. Pruitt is currently the President/CEO of East Penn Manufacturing, a major battery manufacturer, and brings extensive financial and leadership experience to the role. His term will conclude at the Company’s Annual Meeting in 2022, where he may be nominated for a three-year term. Burnham Holdings is a leading manufacturer of HVAC products and employs around 800 people nationwide.
Burnham Holdings, Inc. (BURCA) reported financial results for the six months ending June 27, 2021, showing a significant increase in net sales, up 34.7% to $43.6 million in Q2 and 26.3% to $87.6 million YTD. Despite rising sales, the company faced a net loss of $(2.48) million in Q2 compared to $(368) thousand in 2020, with gross profit margins decreasing from 18.1% to 13.0%. A quarterly dividend of $0.22 per share was declared, payable on August 18, 2021, with a record date of August 11, 2021.
Burnham Holdings, Inc. (OTC-Pink: BURCA) announced the results of its Annual Meeting on April 26, 2021, held virtually in Lancaster, PA. Stockholders approved the election of directors Douglas S. Brossman, Christopher R. Drew, and Laura T. Wand for three-year terms. The Board declared a quarterly common stock dividend of $0.22 per share and a semi-annual preferred stock dividend of $1.50 per share, both payable on June 15, 2021, with a record date of June 8, 2021. Financial results for Q1 2021 were also disclosed earlier that day.
Burnham Holdings, Inc. (OTC-Pink: BURCA) reported a net sales increase of 18.9% to $44.0 million for Q1 2021, driven by improved demand for residential heating equipment. However, gross profit margin fell to 15.9% due to rising material costs. The company experienced a net loss of $(0.58) million, an improvement from $(1.07) million in Q1 2020. Total debt decreased to $19.8 million. While residential sales rose by 30.3%, commercial product sales dropped 9.9% due to COVID-19 impacts. Despite challenges, incoming orders for commercial products have surged recently.
Burnham Holdings, Inc. (OTC-Pink: BURCA) reported a net sales decline of 11.7%, totaling $187.5 million for 2020, impacted significantly by warmer weather and COVID-19. Gross profit fell 15.5% to $38.5 million, with a net income of $6.55 million, down from $8.74 million in 2019. Despite a decrease in residential heating sales by 10.5%, there was a 1.5% sales growth in the second half. SG&A expenses decreased by 11.3% to $30.5 million. The company declared a quarterly dividend of $0.22 per share, payable on March 12, with a record date of March 5, 2021.
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