Burnham Holdings, Inc. Reports Full Year 2023 Financial Results, Raises Dividend and Board Actions
Burnham Holdings, Inc.'s consolidated financial performance for the year ended December 31, 2023 included the following:
- Burnham Holdings, Inc.'s consolidated financial performance for the year ended December 31, 2023 included the following:
Net sales were $253.0 million for 2023, an increase of $12.4 million, or 5.2%, versus 2022. - The net sales figure for 2023 represents the highest net sales number in BHI history, eclipsing the previous mark of $251.7 million set in 2004.
- Gross profit margin was 23.6% for 2023 compared to 19.2% for 2022 primarily due to continued realization of pricing actions to offset inflation.
- As previously noted, pricing actions taken during 2022 and 2023 contributed to the margin expansion realized in 2023.