Welcome to our dedicated page for Clarus Corporation news (Ticker: CLAR), a resource for investors and traders seeking the latest updates and insights on Clarus Corporation stock.
Clarus Corporation (NASDAQ: CLAR) is a global leader in the design, development, manufacturing, and distribution of high-quality outdoor equipment and lifestyle products. Based in Salt Lake City, Utah, Clarus operates two main segments: Black Diamond and Sierra. These segments cater to various outdoor enthusiasts, including climbers, skiers, mountaineers, trail runners, and adventurers.
The Black Diamond segment specializes in activity-based apparel such as shells, insulation, midlayers, pants, and logowear. It also provides rock-climbing footwear and equipment, technical backpacks, trekking poles, headlamps, gloves, and a wide range of ski equipment. Noteworthy products include avalanche airbag systems, avalanche transceivers, and ice-climbing gear. This segment targets those passionate about climbing, mountaineering, trail running, and skiing.
On the other side, the Sierra segment encompasses brands like Rhino-Rack, MAXTRAX, and TRED Outdoors. This segment focuses on highly-engineered automotive roof racks, mounting systems, luggage boxes, and recovery boards. Rhino-Rack and MAXTRAX products are especially popular in Australia, New Zealand, and the United States.
In recent achievements, Clarus has shown resilience despite challenging macroeconomic conditions. The company reported financial results for the third quarter of 2023, showcasing strategic realignment efforts. Clarus has acquired TRED Outdoors, an innovative, fast-growing brand in the outdoor adventure market. This acquisition aims to expand the company’s product portfolio and enhance its recovery board solutions.
In terms of financial health, Clarus ended 2023 with a strong balance sheet, zero debt, and over $40 million in cash. The company has a streamlined focus on its two main segments poised for growth. With a positive outlook for 2024, Clarus expects total annual net sales to range between $270 million to $280 million and adjusted EBITDA of $16 million to $18 million.
Clarus continues to align its inventory levels with market demands and simplify its organizational structure. The company prioritizes innovation and sustainability, aiming to enhance profitability and unlock new opportunities in the outdoor and adventure sports markets.
For more information on Clarus Corporation, visit their official website at www.claruscorp.com.
Clarus Corporation (NASDAQ: CLAR) has announced a conference call scheduled for May 1, 2023, at 5:00 p.m. Eastern time, to discuss its financial results for Q1 2023, which ended on March 31, 2023. Results will be released after market hours on the same day. Participants can register for the call online to receive dial-in instructions. The event will be accessible live and available for replay on Clarus's website. As a leader in outdoor equipment and lifestyle products, Clarus focuses on innovation and growth of its ‘super fan’ brands, which include Black Diamond, Rhino-Rack, and others, marketed through various retailers and online platforms.
Clarus Corporation (NASDAQ: CLAR) will participate in several upcoming investor conferences in March 2023. The events include the Raymond James 44th Annual Institutional Investor Conference on March 8th, the 35th Annual ROTH Conference on March 13th, the Bank of America’s Consumer and Retail Conference on March 15th, and D.A. Davidson’s Consumer Growth Conference on March 21st. The company aims to enhance investor awareness and engagement through these platforms, showcasing its strategy of acquiring and growing outdoor enthusiast brands. For further details, a webcast of the presentation will be available for 90 days post-conference.
Clarus Corporation (NASDAQ: CLAR) reported Q4 and full-year 2022 financial results, highlighting a challenging year with significant net losses. Q4 sales fell to $104.2 million from $118.2 million, with a net loss of $81.6 million compared to a net income of $14.0 million in Q4 2021. The loss includes a non-cash impairment charge of $92.3 million in the Adventure segment. Adjusted net income was $7.3 million. For the full year, sales rose 19% to $448.1 million, with a net loss of $69.8 million. The company expects 2023 sales around $420 million and adjusted EBITDA of approximately $60 million.
Clarus Corporation (NASDAQ: CLAR) has announced a quarterly cash dividend of $0.025 per share, payable on March 17, 2023, to stockholders of record as of March 7, 2023. The company is dedicated to the outdoor and consumer enthusiast markets and focuses on acquiring and growing high-performing brands under its 'innovate and accelerate' strategy. Clarus markets its products globally under brands like Black Diamond® and Rhino-Rack® through various retail channels. This dividend reflects the company's commitment to returning value to shareholders amidst its ongoing growth initiatives.
Clarus Corporation (NASDAQ: CLAR) will hold a conference call on February 27, 2023, at 5:00 p.m. Eastern time to discuss its financial results for Q4 and the full year ended December 31, 2022. A press release detailing the financial results will be issued after market close on the same day. Investors can register for the call through a provided link to receive dial-in instructions. The call will also be accessible for replay on the Company's website. Clarus, headquartered in Salt Lake City, specializes in outdoor equipment and lifestyle products, marketing brands such as Black Diamond® and Rhino-Rack®.
Clarus Corporation (NASDAQ: CLAR) has appointed Neil Fiske as Brand President of its subsidiary, Black Diamond Equipment, effective immediately. Fiske, an experienced leader with nearly 20 years in outdoor and apparel sectors, aims to drive growth and profitability by leveraging expansion opportunities. His previous roles include CEO positions at Marquee Brands, Eddie Bauer, and Billabong International, where he successfully revitalized brands. Clarus Executive Chairman Warren Kanders expressed confidence in Fiske's ability to modernize Black Diamond while honoring its heritage. This strategic leadership change is anticipated to enhance the company's market position.
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