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 20% increase in net sales for the first half of 2022, alongside a quarterly common stock dividend of $0.22 per share, payable on August 17, 2022. Despite this growth, the company experienced a net loss of $1.8 million for the first half, improving from a $3.1 million loss in 2021. Gross profit margins rose to 15.2% as price adjustments countered inflation. Staffing and supply chain challenges, along with rising interest expenses, remain critical concerns.
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.