Business
AirBoss Reports 1st Quarter 2026 Results
NEWMARKET, Ontario, May 06, 2026 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (OTCQX: ...
About this update from Airboss Of America Corporation
[{"type":"text","content":"AirBoss Reports 1st Quarter 2026 Results\nNEWMARKET, Ontario, May 06, 2026 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) (the “Company” or “AirBoss”) today announced its first quarter 2026 results. The Company's annual general meeting will be held on Thursday, May 7th at 11:00 am (EDT). Along with the formal portion of the meeting, management will provide a presentation including a discussion of Q1 2026 results. The meeting will be accessible in person, via live webcast or by dialing into the number provided later in this release. All dollar amounts are shown in thousands of United States dollars (\"US$\" or \"$\"), except share data, unless otherwise noted. Recent Highlights Adjusted EBITDA1 in the first quarter of 2026 (“Q1 2026”) increased by $1.1 million to $9.1 million compared to $8.0 million in the first quarter of 2025 (“Q1 2025”) and profit increased by $2.5 million to $2.1 million;Net Debt to trailing twelve-month Adjusted EBITDA ratio1 reduced to 1.97x (1.99x at December 31, 2025) due to higher Adjusted EBITDA against higher borrowings to support working capital;Sales by AirBoss Manufactured Products' defense products business increased by 10.0% in Q1 2026 compared to Q1 2025; andDeclared a quarterly dividend of CAD$0.035 per common share. “AirBoss delivered a solid start to 2026, with improved profitability and continued growth in adjusted EBITDA compared to the same period in 2025,” said Chris Bitsakakis, President and Co-CEO of AirBoss. “Performance at AirBoss Manufactured Products was strong, driven by ongoing deliveries under previously awarded defense contracts and improved results in the rubber molded products business, while AirBoss Rubber Solutions experienced a modest recovery compared to the prior quarter but continued to face market softness across most sectors. Across the organization, we remained focused on disciplined cost management, operational execution and continuous improvement initiatives, while continuing to navigate economic and geopolitical uncertainty, including tariffs, inflationary pressures and ongoing volatility across certain customer sectors.\" “AirBoss continued to execute against our strategic priorities in the first quarter of 2026 despite ongoing challenges,” added Gren...