Welcome to our dedicated page for Compass Diversified news (Ticker: CODI), a resource for investors and traders seeking the latest updates and insights on Compass Diversified stock.
Compass Diversified Holdings, trading under the symbol CODI, is a diversified business conglomerate based in the United States. Since its founding in 1998, the company has focused on the middle market space, maintaining the same strategy and philosophy: acquiring companies with a clear 'reason to exist' that they could own forever.
CODI operates through two primary segments: branded consumer businesses and industrial businesses.
Branded consumer businesses are those that leverage a valuable brand name in their respective markets. The portfolio includes well-known names like 5.11, Ergobaby, Liberty Safe, and Velocity Outdoor.
Industrial businesses focus on manufacturing and selling specific products and services within defined market sectors. These operations extend globally, including regions like Canada, Europe, Asia Pacific, and other international areas.
Recent achievements highlight CODI’s commitment to growth and innovation. A significant capital infusion has further boosted the company's liquidity, positioning it for accelerated growth. Additionally, CODI's unique business model and significant competitive advantage continue to drive strong results.
Noteworthy recent developments include the enhanced positioning of The Honey Pot Company, a leading feminine care brand, through CODI resources. The brand offers plant-derived, clinically tested formulas available in over 33,000 stores across the U.S., including major retailers like Target, Walmart, CVS, and Walgreens.
CODI is dedicated to partnering with outstanding management teams, providing them with patient growth capital. The company’s approach ensures a stable operational environment, embracing positive change as a catalyst for growth while remaining true to its foundational values.
For investor relations, please contact: irinquiry@compassdiversified.com or Gateway Group's Cody Slach at 949.574.3860. For media inquiries, reach out to mediainquiry@compassdiversified.com or The IGB Group's Leon Berman at 212.477.8438.
Compass Diversified (NYSE: CODI) reported strong Q3 2024 financial results with net sales up 11.8% to $582.6 million. The company saw double-digit sales growth driven by Branded Consumer businesses, while Industrial businesses showed low single-digit growth. Key highlights include:
- Income from continuing operations of $31.5 million vs previous loss of $14.0 million
- Adjusted EBITDA up 28% to $114.0 million
- Adjusted Earnings increased 65% to $48.7 million
- Announced $100 million share repurchase program
- Raised 2024 outlook with expected consolidated pro-forma subsidiary Adjusted EBITDA between $510-525 million
Compass Diversified (NYSE: CODI), an owner of leading middle market businesses, has announced its plans to release financial results for the third quarter ended September 30, 2024. The results will be released on Wednesday, October 30, 2024, after the close of market trading.
CODI has scheduled a conference call to discuss the results on the same day at 5:00 p.m. ET. The call will feature the company's Chief Executive Officer, Elias Sabo, Chief Financial Officer, Stephen Keller, and Chief Operating Officer of Compass Group Management, Pat Maciariello.
A live webcast of the call will be available on the Investor Relations section of CODI's website. Participants can access the call by phone through a registration link provided. To avoid delays, participants are encouraged to dial in 15 minutes before the scheduled start time. A replay of the webcast will be available for a time on the company's website.
Compass Diversified (NYSE: CODI) has announced a $100 million share repurchase program authorized by its Board of Directors. The program allows CODI to repurchase its issued and outstanding common shares through December 31, 2024, with the possibility of extension. The repurchases can be executed through various methods, including open market transactions, investment banking institutions, privately-negotiated transactions, or direct purchases.
CEO Elias Sabo stated that this program reflects the company's confidence in its long-term strategy and growth prospects. The timing and amount of repurchases will be subject to CODI's discretion, considering market conditions, legal requirements, and other corporate factors.
Compass Diversified (NYSE: CODI) has announced its third quarter 2024 distributions for common and preferred shares. The Board of Directors declared a quarterly cash distribution of $0.25 per common share, payable on October 24, 2024, to shareholders of record as of October 17, 2024. Additionally, the company declared distributions for its Series A, B, and C Preferred Shares:
- Series A: $0.453125 per share
- Series B: $0.4921875 per share
- Series C: $0.4921875 per share
These preferred share distributions cover the period from July 30, 2024, to October 30, 2024, and are payable on October 30, 2024, to shareholders of record as of October 15, 2024. CODI expects these distributions to generally constitute qualified dividends for U.S. federal income tax purposes, subject to certain conditions.
Jadex Inc. has completed the sale of Lifoam Industries, to Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI), for $137 million in cash, excluding working capital and certain other adjustments. Lifoam is a leading manufacturer of temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for healthcare, commercial, and retail customers.
Over the past several years, Lifoam has focused on innovation, new product development, and environmentally-friendly products, which has allowed it to grow its customer base in the healthcare- and food-related cold chain shipping end markets.
Compass Diversified (NYSE: CODI) announced that its subsidiary, Altor Solutions, has completed the acquisition of Lifoam Industries, for an enterprise value of $137 million. Lifoam, founded in 1954, is a leading manufacturer of temperature-controlled packaging products for healthcare, commercial, and retail industries. The acquisition, previously announced on August 15, 2024, is expected to enhance Altor's market reach and cold-chain technology capabilities.
Terry Moody, CEO of Altor, emphasized the valuable infrastructure and specialized expertise Lifoam brings to the company. Elias Sabo, CEO of Compass Diversified, highlighted the acquisition as a significant advancement in Altor's long-term strategy, enhancing their capabilities and expanding their customer base.
Compass Diversified (NYSE: CODI) has appointed Stephen Keller as its new Chief Financial Officer, effective August 31, 2024. Keller brings over 25 years of executive finance experience across multiple industries, replacing Ryan Faulkingham, who has served as CFO since July 2013.
Keller's most recent role was Interim CFO and VP of Investor Relations at Envista Holdings . He also held various positions at Avery Dennison , including VP of Strategy & Corporate Development. Keller holds a BS in Economics from the University of Iowa and an MBA from Northwestern University's Kellogg School of Management.
CODI's CEO, Elias Sabo, expressed confidence in Keller's ability to bolster the company's organizational foundation and drive strong financial results. Keller stated his excitement about joining CODI, highlighting the company's diverse mix of middle market businesses and long-term approach to value creation.
Jadex Inc. has announced the sale of Lifoam Industries, to Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI), for $137 million in cash. The post-tax proceeds will be used to reduce debt and invest in Jadex's remaining business. Lifoam, a leading manufacturer of temperature-controlled packaging products, has been experiencing growth, particularly in healthcare- and food-related cold chain shipping markets.
Lifoam's success has been driven by innovation, including the development of environmentally-friendly products like Bioffex® technology, a PLA-based bead foam that can be commercially composted in under four weeks. The sale positions Lifoam to continue its growth trajectory as part of Altor, a specialized protective and cold chain packaging solutions business.
Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI), has announced its agreement to acquire Lifoam Industries, for $137 million in cash. Lifoam, a leading manufacturer of temperature-controlled packaging products, will expand Altor's presence in the cold-chain packaging sector and diversify its customer base. The acquisition brings significant synergies, including seven manufacturing locations across the U.S. and advanced engineering capabilities.
This strategic move aligns with Altor's long-term growth strategy, enhancing its product offerings and geographic coverage. The deal is expected to close in September 2024, subject to customary conditions. Compass Diversified's CEO, Elias Sabo, emphasized the acquisition's potential to generate long-term value for CODI stakeholders through expanded capabilities and innovation in environmentally friendly measures.
Compass Diversified (NYSE: CODI) reported strong Q2 2024 results, with net sales up 11% to $542.6 million. Branded Consumer net sales increased 11% on a pro forma basis to $373.5 million, while Industrial net sales decreased 4% to $169.1 million. The company reported a loss from continuing operations of $13.7 million, primarily due to the $24.6 million loss from the divestiture of Crosman Adjusted EBITDA increased 27% to $105.4 million, driven by strong performance at BOA and Lugano, and the addition of The Honey Pot Co.
CODI maintained its 2024 outlook, expecting Subsidiary Adjusted EBITDA between $480 million and $520 million. The company revised its Branded Consumer vertical expectations upward by $10 million and Industrial vertical downward by $10 million. CODI continues to expect Adjusted EBITDA of $390 million to $430 million and Adjusted Earnings between $148 million and $163 million for the full year 2024.
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What is The Honey Pot Company?
