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 holding company for domestic manufacturers of boilers, furnaces and related HVAC products and accessories serving residential, commercial and industrial applications. Its news flow provides insight into how the company is reshaping its boiler-focused operations and managing financial and legal risks.
Recent press releases highlight strategic portfolio adjustments, including the divestiture of substantially all assets of Thermo Pride and Norwood Manufacturing, the planned winddown of Crown Boiler manufacturing operations, and the expansion of commercial and industrial boiler service and installation activities, including mobile boiler room offerings. News items also cover the opening and expansion of U.S. Boiler Company’s Condensing Center of Excellence in Lancaster, Pennsylvania, which is dedicated to advanced high-efficiency condensing boiler production.
Investors and industry observers can follow quarterly and annual financial results that detail net sales, margins, non-GAAP metrics such as EBITDA and Adjusted EBITDA, and commentary on residential, commercial and service and rentals performance. The company’s releases also discuss debt levels, working capital management and pension-related actions, such as the transfer of a portion of defined benefit obligations to a third-party insurer.
Additional news includes dividend declarations on common and preferred stock, annual meeting results, and updates on litigation involving certain subsidiaries, including asbestos-related matters and the subsequent transfer of legacy asbestos liabilities to Burnham Industries, LLC. Ownership disclosures by institutional investors, such as GAMCO’s announcement of its stake in Burnham Holdings, also appear in the news flow.
This page aggregates these updates so readers can review BHI’s financial performance, strategic transactions, manufacturing developments and corporate actions over time.
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.
Burnham Holdings, trading as BURCA, reported its third quarter financial results for 2020, revealing net sales of $48.7 million, down from $52.1 million in the same period last year. However, quarterly sales showed a recovery, rising 3% year-over-year. YTD sales declined 15%, largely due to a 17% drop in residential product sales. Notably, the company achieved a pre-tax profit of $1.9 million, 85% higher than last year. Debt decreased to $33.3 million, while earnings per share rose to $0.33 from $0.18.