Burnham Holdings reports Q4 net loss after divestiture of legacy asbestos liabilities

Reuters
02/20
Burnham Holdings reports Q4 net loss after divestiture of legacy asbestos liabilities

Overview

  • Boiler maker's Q4 net sales rose 13.8% yr/yr, driven by strategic portfolio adjustments

  • Adjusted EBITDA for Q4 increased to $12.0 mln, reflecting operational efficiencies

  • Company reported Q4 net income loss due to strategic divestitures and liabilities

Result Drivers

  • STRATEGIC PORTFOLIO ADJUSTMENTS - Record high net sales driven by strategic portfolio adjustments aimed at strengthening core boiler business

  • OPERATIONAL EFFICIENCIES - Gross profit margin increased due to continued operational efficiencies in the Commercial businesses

  • DIVESTITURE IMPACT - Net income loss due to strategic divestiture of legacy asbestos liabilities and related charges

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Sales

$91.07 mln

Q4 EPS

-$6.68

Q4 Net Income

-$31.37 mln

Press Release: ID:nPnb7gjMga

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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