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) reported a remarkable 57% increase in second-quarter sales, reaching $114.9 million compared to the prior year. Adjusted EBITDA rose 51% to a record $17.6 million, with an adjusted EBITDA margin of 15.3%. Net income soared 105% to $3.8 million or $0.09 per diluted share. The company has approved a new $50 million stock repurchase program while expecting a 25% increase in annual sales to $470 million. Challenges in supply chain logistics impacted delivery capabilities, yet strong demand persists across segments.
Clarus Corporation (NASDAQ: CLAR) has declared a regular quarterly cash dividend of $0.025 per share, to be paid on August 19, 2022, to stockholders recorded as of August 8, 2022. This dividend reflects the company’s commitment to returning value to its shareholders while maintaining its focus on the outdoor and consumer enthusiast markets. Clarus operates under renowned brands including Black Diamond and Rhino-Rack, aiming for sustainable long-term growth in the outdoor equipment sector.
Clarus Corporation (NASDAQ: CLAR) will hold a conference call on August 1, 2022, at 5:00 p.m. Eastern time to discuss its financial results for Q2 2022, ending June 30. The press release with results will be available after market hours on the same day. Investors can register in advance and participate via the provided registration link. Clarus designs and distributes outdoor gear and lifestyle products under brands like Black Diamond and Rhino-Rack, focusing on growth through innovation and strategic acquisitions.
Clarus Corporation (NASDAQ: CLAR) will participate in several upcoming investor conferences to engage with shareholders and potential investors. The company will attend the William Blair 42nd Annual Growth Stock Conference on June 8, 2022, followed by the Stifel Cross Sector Insight Conference on June 9, 2022, and the Jefferies Consumer Conference on June 21-22, 2022. These conferences aim to showcase Clarus’s strategy in the outdoor and consumer enthusiast markets, as well as its portfolio of established brands.
Clarus Corporation (NASDAQ: CLAR) reported first-quarter 2022 sales of $113.3 million, a 50% year-over-year increase, with adjusted EBITDA reaching a record $19.7 million, reflecting a 17.4% margin. Net income was $5.3 million, or $0.13 per diluted share, slightly down from $5.7 million in the prior year. The Precision Sport segment saw a 41% sales increase, while logistics challenges limited Outdoor segment revenue. Clarus forecasts a 25% sales growth for the year, projecting total sales of $470 million, with expected adjusted EBITDA of approximately $78 million.
Clarus Corporation (NASDAQ: CLAR) announced a quarterly cash dividend of $0.025 per share, payable on May 20, 2022, to stockholders of record as of May 9, 2022. This reflects the company's commitment to returning value to shareholders while emphasizing its focus on the outdoor and consumer enthusiast markets.
Clarus designs and distributes top-tier outdoor equipment and lifestyle products under well-known brands such as Black Diamond, Rhino-Rack, and MAXTRAX.
Clarus Corporation (NASDAQ: CLAR) will hold a conference call on May 9, 2022, at 5:00 p.m. Eastern time to discuss its Q1 financial results for the period ending March 31, 2022. The financial results will be announced in a press release prior to the call. Interested parties can join the conference using the toll-free number 1-877-511-3707 or listen online. A replay will be available after 8:00 p.m. Eastern on the same day, until May 23, 2022. Clarus specializes in outdoor equipment and lifestyle products, aiming for sustainable growth in the outdoor market.
Clarus Corporation announced an upsized credit facility, featuring a $300 million revolving credit and a $125 million term loan. Led by JPMorgan Chase and Bank of America, the total borrowing capacity reaches $600 million. This increase strengthens Clarus's acquisition strategy for 'Super Fan' brands and supports its growth plans. The revolving credit facility allows for foreign currency borrowings and has an interest rate based on adjusted SOFR or an alternative base rate, maturing in April 2027.
Clarus Corporation (NASDAQ: CLAR) reported record financial results for Q4 2021, with sales increasing 56% YoY to $118.2 million and annual sales rising 68% to $375.8 million. Key highlights include improved gross margins, with adjusted EBITDA reaching a record $20 million in Q4 and $61.5 million for 2021. The company anticipates 2022 sales of $470 million and adjusted EBITDA of $78 million. Additionally, Clarus acquired MAXTRAX, enhancing its Adventure segment. However, total debt rose significantly to $141.5 million, raising concerns about financial leverage.
Clarus Corporation (NASDAQ: CLAR) announced its participation in several upcoming investor conferences. Key events include the Raymond James 43rd Annual Institutional Investors Conference on March 9, 2022, and the D.A. Davidson 5th Annual Consumer Growth Conference on March 10, 2022. The company will also attend the Bank of America 2022 Consumer and Retail Technology Conference on March 10, followed by the 34th Annual ROTH Conference on March 14. Clarus focuses on outdoor and consumer enthusiast markets, aiming to grow iconic brands through innovative strategies.
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