ABSSF - AirBoss cuts 2021 outlook

AirBoss of America (OTCQX:ABSSF) has revised its 2021 outlook, expecting revenues in the range of US$570M to US$590M (vs. prior guidance of $630M to $710M). Adjusted earnings per diluted share is expected between $1.50 to $1.60 (vs. prior guidance of $1.80 to $2.19) and adj. EBITDA margin is expected in the range of 13.0% – 13.5% (vs. 15.0% – 15.5% previously). The consensus revenue estimates for 2021 is $660.67M. Additionally, the company has provided an update with respect to deliveries by AirBoss Defense Group (ADG) of nitrile patient examination gloves. Due to ongoing customs, logistics and border delays at the ports of Los Angeles and Long Beach, glove deliveries are now expected to be happen by the end of Q122. The deliveries were originally scheduled for the Q421. The remaining revenue from the contract, representing ~$95M of sales, is likely to be recognized in Q122, based on expectations that the

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AirBoss cuts 2021 outlook