Burnham Holdings: A Beacon of Success in 2024

As we step into 2025, it's time to take a closer look at the remarkable performance of Burnham Holdings, Inc. (OTC-Pink: BURCA) in 2024. The company, a leading domestic manufacturer of boilers, furnaces, and related HVAC products and accessories, has set new all-time highs in net sales, net income, and earnings per share. Let's dive into the key factors that contributed to their record-breaking year and explore what lies ahead for this dynamic company.



Record-breaking financial results

In 2024, Burnham Holdings reported net sales of $270.2 million, up 6.8% from 2023. This impressive growth was driven by a 3.0% increase in residential product sales and an 8.8% increase in commercial product sales. The company's net income reached a new consolidated record of $12.0 million, compared to $9.4 million in 2023. Adjusted net income, excluding reserve adjustments, was $15.3 million for 2024. Adjusted diluted earnings per share for 2024 and 2023 were $3.23 and $2.02, respectively.

Expansion into new segments

Burnham Holdings' Thermal InMotion initiative has expanded the company's capabilities into previously unserved segments of the HVAC industry. This strategic move has not only driven growth in the service and rentals businesses but has also contributed to the overall success of the company. The service and rentals businesses contributed $8.8 million in 2024, up from $2.6 million in 2023.

Dividend declaration

In addition to their outstanding financial performance, Burnham Holdings declared a quarterly common stock dividend of $0.23 per share, payable on March 27, 2025. This declaration is a testament to the company's strong financial position and commitment to returning value to shareholders.

Looking ahead

As we look to the future, Burnham Holdings is well-positioned to continue its growth trajectory. The company's focus on residential and commercial products, expansion into new segments, and commitment to returning value to shareholders are all key factors that will drive their success. With a strong balance sheet and a solid track record of growth, Burnham Holdings is poised to continue its impressive run in 2025 and beyond.



In conclusion, Burnham Holdings' record-breaking financial results in 2024 are a testament to the company's strategic focus, expansion into new segments, and commitment to returning value to shareholders. As we look ahead to 2025, Burnham Holdings is well-positioned to continue its impressive growth trajectory, making it an attractive investment opportunity for those seeking exposure to the HVAC industry.