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) announced plans to offer 2,750,000 shares of common stock, with an underwriter option for 412,500 additional shares. The net proceeds will be used for general corporate purposes, including debt repayment and potential acquisitions. BofA Securities leads the offering, which is registered under the Securities Act of 1933. Investors are advised to review the prospectus for detailed information. Forward-looking statements warn of risks that could impact the offering's success, including market conditions and consumer demand.
Clarus Corporation (NASDAQ: CLAR) will hold a conference call on November 8, 2021, at 5:00 p.m. Eastern time to discuss third-quarter financial results for the period ending September 30, 2021. The results will be released after market close on the same day. Interested parties can join the call using the toll-free number 1-877-511-3707 or the international line 1-786-815-8672, with Conference ID 3876067. A replay will be available post-call until November 22, 2021. Clarus is known for its outdoor equipment and lifestyle products, including brands like Black Diamond and Rhino-Rack.
Clarus Corporation (NASDAQ: CLAR) reported strong preliminary results for Q3 2021, expecting sales of $107-$108 million, a 66%-67% increase year-over-year. The anticipated adjusted EBITDA stands at $18.5-$18.8 million, reflecting a 103%-106% rise from Q3 2020. The company raised its 2021 outlook, projecting sales of approximately $362.5 million and adjusted EBITDA of $57 million, up 62% and 155% respectively. Black Diamond sales are projected to rise by 27%, while Sierra is set to double. The integration of the newly acquired Rhino-Rack appears seamless, with future growth anticipated in North America.
Clarus Corporation (NASDAQ:CLAR) announced its participation in two virtual financial conferences in September 2021. The 10th Annual Gateway Conference is set for September 8th at 8:30 AM Pacific Time, while the Lake Street 5th Annual Best Ideas Growth (BIG5) Conference will occur on September 14th. The company, known for its outdoor equipment and lifestyle products, is recognized for its innovation and quality, boasting brands such as Black Diamond and Rhino-Rack. For inquiries, investors are encouraged to contact their investor relations team.
Clarus Corporation (NASDAQ: CLAR) reported a remarkable 144% increase in Q2 2021 sales to a record $73.3 million, driving net income to $1.8 million compared to a loss of $(2.7) million last year. Adjusted EBITDA soared to $11.7 million, up from $(1.3) million. The company raised its full-year sales outlook to $350 million, reflecting a projected 56% growth. The acquisition of Rhino-Rack for approximately $205 million is expected to contribute positively, with anticipated sales of $40 million in the latter half of 2021.
Clarus Corporation (NASDAQ: CLAR) has announced a regular quarterly cash dividend of $0.025 per share, payable on August 20, 2021, to stockholders of record as of August 9, 2021. This dividend payment reflects the company's commitment to returning value to its shareholders. Clarus is known for its innovative outdoor and lifestyle products, with a strong portfolio that includes Black Diamond and Sierra. The announcement underscores the company's financial stability and ongoing focus on shareholder returns.
On August 2, 2021, Clarus Corporation (NASDAQ: CLAR) will hold a conference call at 5:00 p.m. Eastern time to discuss its financial results for Q2 2021, ending June 30. An earnings press release will be issued post-market hours that same day. Interested parties can access the call via toll-free or international dial-in numbers, with replay options available after 8:00 p.m. Eastern time until August 16. Clarus operates in the outdoor and consumer enthusiast markets, offering brands like Black Diamond and Sierra.
Clarus Corporation (NASDAQ: CLAR) has successfully acquired Australia's Rhino-Rack Pty Ltd for a total of $AUD 273 million (approximately $USD 207 million), including cash and stock. The acquisition is expected to enhance Clarus's portfolio and is immediately accretive to earnings. Rhino-Rack generated $AUD 115 million (approximately $USD 90 million) in sales over the past twelve months. Clarus aims to expand Rhino-Rack's presence in North America while maintaining growth in Australia and New Zealand. The company plans to update its financial outlook during its August earnings call.
Clarus Corporation announced an upsized credit facility in conjunction with its acquisition of Rhino-Rack. The new agreement includes a $100 million revolving credit facility and a $125 million term loan, along with an uncommitted $50 million accordion feature, totaling $275 million. The financing will support the cash considerations for the acquisition, enhancing Clarus' financial flexibility as it aims to implement its growth strategy. The facility's interest rates range from 1.50% to 2.625% annually, maturing on May 3, 2024.
Clarus Corporation (NASDAQ: CLAR) is participating in two upcoming virtual conferences. The Stifel 2021 Virtual Cross Sector Insight Conference is on June 8 at 2:00 p.m. ET, and the Jefferies 2021 Virtual Consumer Conference is set for June 22 at 10:55 a.m. ET. These presentations will cover the company's focus on outdoor and lifestyle products, including brands like Black Diamond, Sierra, and Barnes. Interested parties can contact the company's investor relations for more information.
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