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
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