Airboss Of Ameri Stock Price, News & Analysis

AirBoss of America Corp. (OTCQX: ABSSF) announced that its subsidiary, AirBoss Defense Group, has shipped remaining nitrile gloves for the U.S. Strategic National Stockpile, valued at up to $288 million. Delivery is expected to complete mainly in Q4 2021 due to production delays in Malaysia and supply chain issues. Q3 2021 revenues are anticipated at $112 million, with Adjusted EBITDA of approximately $13 million. AirBoss received NIOSH approval for its new AirBoss 100™ Half Mask Respirator, enhancing its product lineup for protective equipment. Full Q3 results will be released on November 9, 2021.

AirBoss of America Corp. (OTCQX: ABSSF) has updated its senior secured credit facilities, expanding available credit from USD $150 million to USD $250 million, with an accordion option of USD $75 million. The maturity date is now set for September 23, 2026, eliminating principal payments before maturity. This enhanced credit structure aims to finance working capital needs and support the company's growth strategies. The expanded syndicate includes major banks, providing AirBoss with more favorable terms and increased financial flexibility.

AirBoss of America Corp. (OTCQX: ABSSF) announced participation in the CIBC 20th Annual Eastern Institutional Investor Conference on September 22, 2021. The event will be held virtually, featuring a Fireside Chat at 3:35 PM ET with management and 1x1 meetings with institutional investors. A webcast link will be available post-event on the company's website for those interested in listening to the discussion. AirBoss is a leading manufacturer of innovative survivability solutions, operating across three divisions: Defense, Rubber Solutions, and Engineered Products.

AirBoss of America Corp. announced participation in RBC Capital Markets' Global Industrials Virtual Conference on September 9, 2021. Management will engage in a Fireside Chat at 1:20 p.m. Eastern time and conduct one-on-one meetings with institutional investors. The chat will be webcast live, with a replay available. Interested investors can contact their RBC representative for conference invitations or meeting arrangements. AirBoss specializes in survivability solutions, custom rubber compounds, and engineered products, and is publicly traded under the ticker ABSSF.

AirBoss of America Corp. has successfully acquired Ace Elastomer, Inc. for US$42.5 million in cash, aiming to enhance its position in the custom rubber compounding industry. This acquisition bolsters AirBoss Rubber Solutions’ market share in color and specialty compounding while expanding its customer base in the U.S. South and Mid-West regions. Ace's management team will remain intact, allowing for a smooth integration. This strategic move is expected to facilitate AirBoss's growth in the specialty compounding market, which has been a key target for the company.

AirBoss of America Corp. (OTCQX: ABSSF) updated its 2021 outlook following the acquisition of Ace Elastomer, Inc. The company projects revenues of $630-$710 million, indicating a 25%-41% growth from 2020. Adjusted EBITDA margins are expected between 15.0%-15.5%, with earnings per diluted share estimated at $1.80-$2.19, up 24%-51% year-over-year. Post-acquisition, AirBoss anticipates a 15% increase in sales and a 28% rise in gross profit for AirBoss Rubber Solutions. This strategic move enhances capacity and market reach while minimizing customer overlap.

AirBoss of America Corp. (OTCQX: ABSSF) has announced plans to acquire 100% of Ace Elastomer, Inc. for approximately US$42.5 million, expected to close in Q3 2021. The acquisition will enhance AirBoss Rubber Solutions' (ARS) capacity in color and specialty rubber compounding, expanding its reach in the U.S. market. The deal is anticipated to positively impact EBITDA and earnings per share immediately. Ace's management team will remain post-acquisition, ensuring continuity in operations.

AirBoss of America Corp. (ABSSF) reported remarkable Q2 2021 results, achieving a record diluted EPS of $0.65, up 141% from Q2 2020. The company completed the acquisition of Blackbox Biometrics® and announced a 43% increase in its quarterly dividend to C$0.10 per share. Revenue rose 5.3% YoY to $118.4 million, driven by robust performance in Rubber Solutions and Engineered Products segments. Despite facing challenges from supply chain issues, AirBoss anticipates continued growth and affirmed its 2021 revenue guidance of $630 to $710 million.

AirBoss of America Corp. announced its participation in Canaccord Genuity’s 41st Annual Growth Conference, scheduled for August 12, 2021, at 8:00 am ET. The event will be held virtually, and interested parties can access a live webcast of the management presentation via the provided link. The presentation will be archived for 90 days following the event. AirBoss specializes in innovative survivability solutions and operates through three divisions: Defense, Rubber Solutions, and Engineered Products. Shares are traded under the symbol ABSSF on OTCQX.