Welcome to our dedicated page for AIRBOSS OF AMERICA news (Ticker: ABSSF), a resource for investors and traders seeking the latest updates and insights on AIRBOSS OF AMERICA stock.
AirBoss of America Corp. reports developments across its custom rubber compounding, rubber-molded products and survivability solutions businesses. The company operates through AirBoss Rubber Solutions and AirBoss Manufactured Products, including AirBoss Defense operations that supply personal and respiratory protective equipment, technology and related products for defense, healthcare, medical and first responder markets.
Recurring news for ABSSF includes quarterly and annual results, adjusted EBITDA and balance sheet commentary, dividend declarations, annual meeting matters, board changes and defense-product orders such as Low Burden Masks, filters and accessories. Updates also discuss customer demand across automotive, defense and other industrial sectors, manufacturing footprint optimization and operating conditions affecting rubber and molded-product markets.
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.
AirBoss of America Corp. (OTCQX: ABSSF) will release its second quarter 2021 financial results on August 10, 2021, after market close. A conference call for discussing these results is scheduled for August 11, 2021, at 9:00 am ET. The company specializes in custom compounded rubber, survivability solutions, and anti-vibration components. AirBoss Defense Group plays a crucial role in providing CBRN-E protective solutions globally. To participate in the conference call, a dial-in number has been provided, along with a webcast link.
AirBoss of America Corp. (OTCQX: ABSSF) has announced that its shares are now listed for trading on the OTCQX® Best Market, enhancing access for U.S. and international investors. The decision aims to increase trading liquidity and expand the company’s shareholder base, driven by approximately 90% of its 2020 sales originating from U.S. and international markets. The OTCQX is recognized for its transparent trading and strict financial standards, providing a conducive environment for valuation and liquidity enhancement.