Airboss Of Ameri Stock Price, News & Analysis

AirBoss Defense Group has secured two new contracts worth up to US$15.6 million. The first contract, valued at up to US$9.2 million, is with armasuisse for Molded AirBoss Lightweight Overboots (MALO) to support Swiss Defense Forces. The second contract, worth up to US$6.4 million, is for Low Burden Masks (LBM), filters, and accessories for a partner nation.

Both contracts are scheduled to begin deliveries in Q3 2025. The company has also reported potential delays in their existing US$45 million Bandolier contract due to supply chain constraints affecting critical components. To date, they have completed US$17 million in deliveries under this contract, with an additional US$2.5 million worth of units in transit.

AirBoss of America (OTCQX: ABSSF) reported its Q4 and full-year 2024 results, with annual net sales decreasing 9.2% to $387,024,000. The company achieved 2024 Adjusted EBITDA of $21.9M on a loss of $20.4M.

Key highlights include:

• U.S. Government contract award worth up to $82.3M for ADG Molded Lightweight Overboots
• New secured credit facilities with $125M asset-based facility and $55M term facility
• Launch of first silicone production line in Michigan
• Quarterly dividend declared at C$0.035 per share

The Rubber Solutions segment saw an 8.9% decrease in 2024 sales to $226.4M, while Manufactured Products experienced a 12.7% decline to $176.7M. The company enters 2025 with over $200M in government contracts, though faces challenges from geopolitical climate and recently-enacted tariffs that could impact cross-border operations.

AirBoss of America (TSX: BOS, OTCQX: ABSSF) has scheduled the release of its fourth quarter and full year 2024 financial results for March 5, 2025, after market close. The company will host a conference call to discuss these results on March 6, 2025, at 9:00 am ET, with participants advised to connect approximately 10 minutes before the call.

AirBoss of America Corp. (TSX: BOS)(OTCQX:ABSSF) has secured a new 3-year IDIQ contract valued at up to US$82.3 million through its AirBoss Defense Group for the ADG Molded AirBoss Lightweight Overboot (MALO). Deliveries are scheduled to begin in Q2 2025.

The MALO is designed to provide protection against chemical and biological threats while ensuring optimal fit and comfort. AirBoss has supplied overboots to the United States for over 20 years and has sold 6.1 million pairs to more than sixty countries.

This contract follows recent defense business awards, indicating positive momentum in defense product revenue growth. The company operates through AirBoss Rubber Solutions, with 500 million turn pounds of annual capacity, and AirBoss Manufactured Products, which serves automotive and defense sectors.

AirBoss of America Corp (TSX: BOS) (OTCQX: ABSSF), North America's second-largest rubber solutions and custom compounding company, has secured a $55 million senior secured term loan facility from Great Rock Capital. The financing, combined with a revolving credit facility from The Toronto-Dominion Bank, will be used to refinance existing debt and leverage fixed assets for increased liquidity. The new credit facility aims to provide AirBoss with enhanced financial flexibility to support their strategic growth initiatives.

AirBoss of America has secured new senior credit facilities totaling up to US$180 million, replacing its current senior secured revolving credit facilities. The new arrangement includes an asset-based credit facility expected to reach US$125 million (currently US$100 million) and a US$55 million term loan facility, both maturing on November 29, 2027. Key terms include reduced maximum margin on revolving debt from 450 to 225 basis points, conditional dividend increases, and specific EBITDA requirements. The company continues its strategic review, exploring potential divestitures and real estate asset monetization, though no immediate transactions are expected.

AirBoss of America reported Q3 2024 financial results showing consolidated net sales decreased by 5.9% to $96,204 compared to Q3 2023. The company experienced a net loss of $3,279 in Q3 2024, with Adjusted EBITDA decreasing by 11.4%. Notable developments include commencing shipments under a $45M Bandolier contract for a NATO partner and securing an increased HHS contract worth $69.3M for protective isolation gowns. The company faced challenges from ongoing industrial economic slowdown in North America, with decreased volumes across most sectors in Rubber Solutions and continued softness in Manufactured Products segment.

AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) has announced the release date for its third quarter 2024 financial results. The company will publish its Q3 results after market close on Wednesday, November 6, 2024, followed by a conference call on Thursday, November 7, 2024, at 9:00 am ET.

Conference call details:

• Dial-in: 1-800-898-3989 or 416-406-0743, access code 3575261#
• Webcast: https://www.gowebcasting.com/13695

AirBoss of America is a diversified company operating through two divisions: AirBoss Rubber Solutions and AirBoss Manufactured Products. The company specializes in custom rubber compounds, anti-vibration solutions, and personal protective equipment for various industries including automotive, defense, healthcare, and first responders.

AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) announced changes to its Board of Directors, effective September 13, 2024. Mary Matthews, who has served since May 2006, is retiring for personal reasons. Jo-Anne O'Connor, President and CEO of Strategem Capital, has been appointed to the board.

Chairman and Co-CEO Gren Schoch expressed gratitude for Matthews' contributions and welcomed O'Connor, citing her extensive experience in financial capital markets and corporate sectors. O'Connor brings over 35 years of experience, including trading large-cap energy, natural resources, and mining stocks for one of Canada's largest banks. She is expected to provide valuable insights as AirBoss moves forward with its strategic transition and explores growth opportunities.