Compass Diversified Reports Fourth Quarter and Full Year 2024 Financial Results
Compass Diversified (NYSE: CODI) reported strong Q4 and full-year 2024 results, with Q4 net sales reaching $620.3 million, up 13.8% year-over-year. The company's branded consumer segment saw a 15.2% increase to $403.0 million, while industrial net sales grew 11.4% to $217.2 million.
Q4 2024 highlights include Adjusted EBITDA of $118.2 million (up 29%) and net income of $23.8 million. For full-year 2024, CODI achieved total net sales of $2.2 billion (up 11.9%) and Adjusted EBITDA of $424.8 million (up 30%).
Notable transactions include the sale of Ergobaby for $104 million, raising $90 million through preferred shares issuance, and securing a $300 million incremental term loan. The company repurchased over 400,000 common shares at an average price of $23.19.
Looking ahead to 2025, CODI expects consolidated Subsidiary Adjusted EBITDA between $570-610 million, with $440-465 million from consumer brands and $130-145 million from industrial businesses. The company forecasts overall Adjusted EBITDA of $480-520 million and Adjusted Earnings of $170-190 million.
Compass Diversified (NYSE: CODI) ha riportato risultati solidi per il quarto trimestre e per l'intero anno 2024, con vendite nette del quarto trimestre che hanno raggiunto i 620,3 milioni di dollari, in aumento del 13,8% rispetto all'anno precedente. Il segmento dei consumatori a marchio dell'azienda ha registrato un incremento del 15,2% a 403,0 milioni di dollari, mentre le vendite nette industriali sono cresciute dell'11,4% a 217,2 milioni di dollari.
I punti salienti del quarto trimestre 2024 includono un EBITDA rettificato di 118,2 milioni di dollari (in aumento del 29%) e un reddito netto di 23,8 milioni di dollari. Per l'intero anno 2024, CODI ha raggiunto vendite nette totali di 2,2 miliardi di dollari (in aumento dell'11,9%) e un EBITDA rettificato di 424,8 milioni di dollari (in aumento del 30%).
Le transazioni notevoli includono la vendita di Ergobaby per 104 milioni di dollari, la raccolta di 90 milioni di dollari tramite l'emissione di azioni privilegiate e l'ottenimento di un prestito a termine incrementale di 300 milioni di dollari. L'azienda ha riacquistato oltre 400.000 azioni ordinarie a un prezzo medio di 23,19 dollari.
Guardando al 2025, CODI prevede un EBITDA rettificato delle sussidiarie consolidate tra 570 e 610 milioni di dollari, con 440-465 milioni di dollari provenienti dai marchi di consumo e 130-145 milioni di dollari dalle attività industriali. L'azienda prevede un EBITDA rettificato complessivo di 480-520 milioni di dollari e utili rettificati di 170-190 milioni di dollari.
Compass Diversified (NYSE: CODI) reportó resultados sólidos para el cuarto trimestre y el año completo 2024, con ventas netas del cuarto trimestre que alcanzaron los 620,3 millones de dólares, un aumento del 13,8% en comparación con el año anterior. El segmento de consumidores de marca de la empresa vio un aumento del 15,2% a 403,0 millones de dólares, mientras que las ventas netas industriales crecieron un 11,4% a 217,2 millones de dólares.
Los aspectos destacados del cuarto trimestre de 2024 incluyen un EBITDA ajustado de 118,2 millones de dólares (un aumento del 29%) y una ganancia neta de 23,8 millones de dólares. Para el año completo 2024, CODI logró ventas netas totales de 2,2 mil millones de dólares (un aumento del 11,9%) y un EBITDA ajustado de 424,8 millones de dólares (un aumento del 30%).
Las transacciones notables incluyen la venta de Ergobaby por 104 millones de dólares, la recaudación de 90 millones de dólares a través de la emisión de acciones preferentes y la obtención de un préstamo a plazo incremental de 300 millones de dólares. La empresa recompró más de 400,000 acciones comunes a un precio promedio de 23,19 dólares.
De cara a 2025, CODI espera un EBITDA ajustado de subsidiarias consolidadas entre 570 y 610 millones de dólares, con 440-465 millones de dólares provenientes de marcas de consumo y 130-145 millones de dólares de negocios industriales. La empresa pronostica un EBITDA ajustado total de 480-520 millones de dólares y ganancias ajustadas de 170-190 millones de dólares.
컴파스 다이버시파이드 (NYSE: CODI)는 2024년 4분기 및 전체 연도 실적을 발표했으며, 4분기 순매출이 620.3백만 달러에 달해 전년 대비 13.8% 증가했습니다. 회사의 브랜드 소비자 부문은 15.2% 증가하여 403.0백만 달러에 이르렀고, 산업 부문의 순매출은 11.4% 증가하여 217.2백만 달러에 도달했습니다.
2024년 4분기 주요 내용으로는 118.2백만 달러의 조정 EBITDA(29% 증가)와 23.8백만 달러의 순이익이 포함됩니다. 2024년 전체 연도 동안 CODI는 총 순매출 22억 달러(11.9% 증가)와 424.8백만 달러의 조정 EBITDA(30% 증가)를 달성했습니다.
주요 거래로는 Ergobaby를 1억 4백만 달러에 판매하고, 우선주 발행을 통해 9천만 달러를 조달하며, 3억 달러의 추가 만기 대출을 확보한 것이 포함됩니다. 회사는 평균 가격 23.19달러로 40만 주 이상의 보통주를 재매입했습니다.
2025년을 바라보며, CODI는 통합 자회사 조정 EBITDA가 5억 7천만에서 6억 1천만 달러 사이가 될 것으로 예상하며, 소비자 브랜드에서 4억 4천만에서 4억 6천 5백만 달러, 산업 사업에서 1억 3천만에서 1억 4천 5백만 달러의 수익을 예상하고 있습니다. 회사는 전체 조정 EBITDA가 4억 8천만에서 5억 2천만 달러, 조정 수익이 1억 7천만에서 1억 9천만 달러에 이를 것으로 예측하고 있습니다.
Compass Diversified (NYSE: CODI) a annoncé de solides résultats pour le quatrième trimestre et pour l'année entière 2024, avec des ventes nettes du quatrième trimestre atteignant 620,3 millions de dollars, en hausse de 13,8 % par rapport à l'année précédente. Le segment des consommateurs de marque de l'entreprise a connu une augmentation de 15,2 % à 403,0 millions de dollars, tandis que les ventes nettes industrielles ont augmenté de 11,4 % pour atteindre 217,2 millions de dollars.
Les points forts du quatrième trimestre 2024 incluent un EBITDA ajusté de 118,2 millions de dollars (en hausse de 29 %) et un bénéfice net de 23,8 millions de dollars. Pour l'année entière 2024, CODI a réalisé des ventes nettes totales de 2,2 milliards de dollars (en hausse de 11,9 %) et un EBITDA ajusté de 424,8 millions de dollars (en hausse de 30 %).
Les transactions notables incluent la vente d'Ergobaby pour 104 millions de dollars, la levée de 90 millions de dollars par l'émission d'actions privilégiées et l'obtention d'un prêt à terme supplémentaire de 300 millions de dollars. L'entreprise a racheté plus de 400 000 actions ordinaires à un prix moyen de 23,19 dollars.
En regardant vers 2025, CODI s'attend à un EBITDA ajusté consolidé des filiales compris entre 570 et 610 millions de dollars, avec 440 à 465 millions de dollars provenant des marques de consommation et 130 à 145 millions de dollars des activités industrielles. L'entreprise prévoit un EBITDA ajusté global de 480 à 520 millions de dollars et des bénéfices ajustés de 170 à 190 millions de dollars.
Compass Diversified (NYSE: CODI) berichtete über starke Ergebnisse für das vierte Quartal und das gesamte Jahr 2024, wobei die Nettoumsätze im vierten Quartal 620,3 Millionen Dollar erreichten, was einem Anstieg von 13,8 % im Vergleich zum Vorjahr entspricht. Der Markenverbraucherbereich des Unternehmens verzeichnete einen Anstieg von 15,2 % auf 403,0 Millionen Dollar, während die industriellen Nettoumsätze um 11,4 % auf 217,2 Millionen Dollar stiegen.
Die Höhepunkte des vierten Quartals 2024 umfassen ein bereinigtes EBITDA von 118,2 Millionen Dollar (29 % Steigerung) und einen Nettogewinn von 23,8 Millionen Dollar. Für das gesamte Jahr 2024 erzielte CODI einen Gesamtumsatz von 2,2 Milliarden Dollar (11,9 % Steigerung) und ein bereinigtes EBITDA von 424,8 Millionen Dollar (30 % Steigerung).
Bemerkenswerte Transaktionen umfassen den Verkauf von Ergobaby für 104 Millionen Dollar, die Beschaffung von 90 Millionen Dollar durch die Emission von Vorzugsaktien und die Sicherstellung eines zusätzlichen Terminkredits von 300 Millionen Dollar. Das Unternehmen hat über 400.000 Stammaktien zu einem Durchschnittspreis von 23,19 Dollar zurückgekauft.
Für 2025 erwartet CODI ein konsolidiertes bereinigtes EBITDA der Tochtergesellschaften zwischen 570 und 610 Millionen Dollar, wobei 440 bis 465 Millionen Dollar aus Verbraucherbrands und 130 bis 145 Millionen Dollar aus industriellen Geschäften stammen. Das Unternehmen prognostiziert ein gesamtes bereinigtes EBITDA von 480 bis 520 Millionen Dollar und bereinigte Erträge von 170 bis 190 Millionen Dollar.
- Net sales up 13.8% in Q4 2024 to $620.3M
- Adjusted EBITDA increased 29% to $118.2M in Q4
- Full-year net sales grew 11.9% to $2.2B
- Branded consumer sales increased 15.2% to $403.0M
- Industrial sales grew 11.4% to $217.2M
- Secured $300M incremental term loan
- Net income decreased from $139.4M in Q4 2023 to $23.8M in Q4 2024
- Full-year net income declined from $262.4M to $47.4M
- $113.5M outstanding on revolver
- Total debt obligations of $1.67B between term loans and senior notes
Insights
Compass Diversified (CODI) has delivered robust Q4 and full-year 2024 results, demonstrating the effectiveness of its permanent capital business model focused on middle-market branded consumer and industrial businesses. The company reported Q4 net sales of
The company's profitability metrics showed even stronger improvement, with Q4 Adjusted EBITDA jumping
CODI's segment performance reveals a notable divergence: the branded consumer businesses delivered
The company has maintained financial flexibility with
The company's 2025 outlook is positive, projecting consolidated Subsidiary Adjusted EBITDA between
While net income figures appear lower year-over-year (
Strong Results Driven by CODI’s Unique Business Model
WESTPORT, Conn., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market branded consumer and industrial businesses, announced today its consolidated operating results for the three months and full year ended December 31, 2024.
“In 2024, we once again delivered strong financial results, achieving double digit sales growth and over
Fourth Quarter 2024 – Financial Highlights (vs Q4 2023)
- Net sales were
$620.3 million , up13.8% - Branded consumer net sales increased
15.2% to$403.0 million - Industrial net sales increased
11.4% to$217.2 million
- Branded consumer net sales increased
- Subsidiary Adjusted EBITDA, a non-GAAP financial measure, was
$140.9 million , up25% - Branded consumer Adjusted EBITDA increased
29.0% - Industrial Adjusted EBITDA increased
5.2%
- Branded consumer Adjusted EBITDA increased
- Adjusted EBITDA, a non-GAAP financial measure, was
$118.2 million , up29.0%
Recent Business Highlights
- Sold Ergobaby for an enterprise value of
$104 million on December 27, 2024 - In Q4 2024 - raised ~
$90 million via issuance of preferred shares- More than
$115 million for full year 2024 - Flexible, low-cost source of capital
- More than
- In Q4 2024 - re-purchased more than 400,000 common shares
- Average price of
$23.19 per share
- Average price of
- In January 2025 - raised
$300 million in incremental term loan A- Initial funding of
$200 million ; additional$100 million available with six month delayed draw - Matures in July 2027, consistent with existing term loan A
- Initial funding of
Fourth Quarter and Full Year 2024 Financial Results
Net sales in the fourth quarter of 2024 were
Branded consumer net sales increased
Industrial net sales increased
Operating income for the fourth quarter of 2024 was
Net income in the fourth quarter of 2024 was
Income from continuing operations in the fourth quarter of 2024 was
Adjusted Earnings (see “Note Regarding Use of Non-GAAP Financial Measures” below) for the fourth quarter of 2024 was
Adjusted EBITDA (see “Note Regarding Use of Non-GAAP Financial Measures” below) in the fourth quarter of 2024 was
Liquidity and Capital Resources
As of December 31, 2024, CODI had approximately
As of December 31, 2024, the Company had no significant debt maturities until 2027 and had net borrowing availability of approximately
Fourth Quarter 2024 Distributions
On January 3, 2025, CODI’s Board of Directors (the “Board”) declared a fourth quarter distribution of
The Board also declared a quarterly distribution of
The Board also declared a quarterly distribution of
The Board also declared a quarterly distribution of
CODI expects all cash distributions paid in the 2024 taxable year to be qualified dividends (assuming requisite holding periods are met) since CODI’s earnings and profits in the 2024 taxable year are expected to exceed cash distributions.
2025 Outlook
For the full year 2025, CODI expects its current subsidiaries to produce consolidated Subsidiary Adjusted EBITDA (see “Note Regarding Use of Non-GAAP Financial Measures” below) of between
CODI further expects Adjusted EBITDA (see “Note Regarding Use of Non-GAAP Financial Measures” below) including management fees and corporate expenses to be between
In addition, the Company expects to earn between
In reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K, CODI has not reconciled 2025 consolidated Subsidiary Adjusted EBITDA, 2025 Adjusted EBITDA or 2025 Adjusted Earnings to their comparable GAAP measure because it does not provide guidance on Income (Loss) from Continuing Operations or Net Income (Loss) or the applicable reconciling items as a result of the uncertainty regarding, and the potential variability of, these items. For the same reasons, CODI is unable to address the probable significance of the unavailable information, which could be material to future results.
Conference Call
Management will host a conference call on Thursday, February 27, 2025, at 5:00 p.m. E.T. / 2:00 p.m. P.T. with the Company’s Chief Executive Officer, Elias Sabo, the Company’s Chief Financial Officer, Stephen Keller, and Pat Maciariello, the Chief Operating Officer of Compass Group Management. A live webcast of the call will be available on the Investor Relations section of CODI’s website. To access the call by phone, please go to this link (registration link) and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call 15 minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time on the Company’s website.
Note Regarding Use of Non-GAAP Financial Measures
Adjusted EBITDA and Adjusted Earnings are non-GAAP measures used by the Company to assess its performance. We have reconciled Adjusted EBITDA to Income (Loss) from Continuing Operations and Adjusted Earnings to Net Income (Loss) on the attached schedules. We consider Income (Loss) from Continuing Operations to be the most directly comparable GAAP financial measure to Adjusted EBITDA and Net Income (Loss) to be the most directly comparable GAAP financial measure to Adjusted Earnings. We believe that Adjusted EBITDA and Adjusted Earnings provides useful information to investors and reflect important financial measures as each excludes the effects of items which reflect the impact of long-term investment decisions, rather than the performance of near-term operations. When compared to Net Income (Loss) and Income (Loss) from Continuing Operations, Adjusted Earnings and Adjusted EBITDA, respectively, are each limited in that they do not reflect the periodic costs of certain capital assets used in generating revenues of our businesses or the non-cash charges associated with impairments, as well as certain cash charges. The presentation of Adjusted EBITDA allows investors to view the performance of our businesses in a manner similar to the methods used by us and the management of our businesses, provides additional insight into our operating results and provides a measure for evaluating targeted businesses for acquisition. The presentation of Adjusted Earnings provides insight into our operating results.
Pro forma net sales is defined as net sales including the historical net sales relating to the pre-acquisition periods of The Honey Pot Co., assuming that the Company acquired The Honey Pot Co. on January 1, 2023. We have reconciled pro forma net sales to net sales, the most directly comparable GAAP financial measure, on the attached schedules. We believe that pro forma net sales is useful information for investors as it provides a better understanding of sales performance, and relative changes thereto, on a comparable basis. Pro forma net sales is not necessarily indicative of what the actual results would have been if the acquisition had in fact occurred on the date or for the periods indicated nor does it purport to project net sales for any future periods or as of any date.
In reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K, we have not reconciled 2025 consolidated Subsidiary Adjusted EBITDA, 2025 Adjusted EBITDA or 2025 Adjusted Earnings to their comparable GAAP measures because we do not provide guidance on Net Income (Loss) from Continuing Operations or Net Income (Loss) or the applicable reconciling items as a result of the uncertainty regarding, and the potential variability of, these items. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.
Adjusted EBITDA, Adjusted Earnings and pro forma net sales are not meant to be a substitute for GAAP measures and may be different from or otherwise inconsistent with non-GAAP financial measures used by other companies.
About Compass Diversified
Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the branded consumer, industrial, healthcare, and critical outsourced services sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.
Forward Looking Statements
Certain statements in this press release may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements as to our future performance or liquidity, such as expectations regarding our results of operations and financial condition, our 2025 consolidated Subsidiary Adjusted EBITDA, our 2025 Adjusted EBITDA, our 2025 Adjusted Earnings, our pending acquisitions and divestitures, and other statements with regard to the future performance of CODI. We may use words such as “plans,” “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “seek,” “look,” and similar expressions to identify forward-looking statements. The forward-looking statements contained in this press release involve risks and uncertainties. Actual results could differ materially from those implied or expressed in the forward-looking statements for any reason, including the factors set forth in “Risk Factors” and elsewhere in CODI’s annual report on Form 10-K for the year ended December 31, 2024 and its quarterly reports on Form 10-Q. Other factors that could cause actual results to differ materially include: changes in the economy, financial markets and political environment, including changes in inflation, interest rates and U.S. tariff and import/export regulations; risks associated with possible disruption in CODI’s operations or the economy generally due to terrorism, war, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); environmental risks affecting the business or operations of our subsidiaries; disruption in the global supply chain, labor shortages and high labor costs; our business prospects and the prospects of our subsidiaries; the impact of, and ability to successfully complete and integrate, acquisitions that we may make; the ability to successfully complete when we’ve executed divestitures agreements; the dependence of our future success on the general economy and its impact on the industries in which we operate; the ability of our subsidiaries to achieve their objectives; the adequacy of our cash resources and working capital; the timing of cash flows, if any, from the operations of our subsidiaries; and other considerations that may be disclosed from time to time in CODI’s publicly disseminated documents and filings. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. Although, except as required by law, CODI undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that CODI may make directly to you or through reports that it in the future may file with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
Investor Relations
Compass Diversified
irinquiry@compassdiversified.com
Gateway Group
Cody Slach
949.574.3860
CODI@gateway-grp.com
Media Relations
Compass Diversified
mediainquiry@compassdiversified.com
The IGB Group
Leon Berman
212-477-8438
lberman@igbir.com
| Compass Diversified Holdings Condensed Consolidated Balance Sheets | |||||
| (in thousands) | December 31, 2024 | December 31, 2023 | |||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | $ | 59,727 | $ | 446,684 | |
| Accounts receivable, net | 444,386 | 308,183 | |||
| Inventories, net | 962,408 | 723,194 | |||
| Prepaid expenses and other current assets | 101,129 | 88,844 | |||
| Current assets of discontinued operations | — | 36,915 | |||
| Total current assets | 1,567,650 | 1,603,820 | |||
| Property, plant and equipment, net | 244,746 | 191,283 | |||
| Goodwill | 982,253 | 859,907 | |||
| Intangible assets, net | 1,049,186 | 879,078 | |||
| Other non-current assets | 208,587 | 195,010 | |||
| Non-current assets of discontinued operations | — | 87,883 | |||
| Total assets | $ | 4,052,422 | $ | 3,816,981 | |
| Liabilities and stockholders’ equity | |||||
| Current liabilities | |||||
| Accounts payable | $ | 104,304 | $ | 91,089 | |
| Accrued expenses | 197,829 | 151,443 | |||
| Due to related parties | 18,036 | 16,025 | |||
| Current portion, long-term debt | 15,000 | 10,000 | |||
| Other current liabilities | 49,617 | 34,812 | |||
| Current liabilities of discontinued operations | — | 8,986 | |||
| Total current liabilities | 384,786 | 312,355 | |||
| Deferred income taxes | 119,948 | 118,882 | |||
| Long-term debt | 1,759,290 | 1,661,879 | |||
| Other non-current liabilities | 225,334 | 203,207 | |||
| Non-current liabilities of discontinued operations | — | 1,277 | |||
| Total liabilities | 2,489,358 | 2,297,600 | |||
| Stockholders' equity | |||||
| Total stockholders' equity attributable to Holdings | 1,296,793 | 1,326,750 | |||
| Noncontrolling interest | 266,271 | 175,875 | |||
| Noncontrolling interest of discontinued operations | — | 16,756 | |||
| Total stockholders' equity | 1,563,064 | 1,519,381 | |||
| Total liabilities and stockholders’ equity | $ | 4,052,422 | $ | 3,816,981 | |
| Compass Diversified Holdings Consolidated Statements of Operations | |||||||||||||||
| Three months ended December 31, | Year ended December 31, | ||||||||||||||
| (in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Net revenues | $ | 620,255 | $ | 544,915 | $ | 2,198,233 | $ | 1,965,017 | |||||||
| Cost of revenues | 349,238 | 312,972 | 1,197,873 | 1,132,014 | |||||||||||
| Gross profit | 271,017 | 231,943 | 1,000,360 | 833,003 | |||||||||||
| Operating expenses: | |||||||||||||||
| Selling, general and administrative expense | 166,256 | 140,831 | 587,520 | 502,013 | |||||||||||
| Management fees | 19,453 | 16,784 | 74,767 | 67,945 | |||||||||||
| Amortization expense | 24,735 | 22,088 | 99,760 | 88,396 | |||||||||||
| Impairment expense | — | 56,832 | 8,182 | 89,400 | |||||||||||
| Operating income (loss) | 60,573 | (4,592 | ) | 230,131 | 85,249 | ||||||||||
| Other income (expense): | |||||||||||||||
| Interest expense, net | (29,189 | ) | (24,827 | ) | (106,683 | ) | (105,179 | ) | |||||||
| Amortization of debt issuance costs | (1,004 | ) | (1,004 | ) | (4,018 | ) | (4,038 | ) | |||||||
| Gain (loss) on sale of Crosman | — | (24,218 | ) | — | |||||||||||
| Other income (expense), net | 412 | (350 | ) | (3,902 | ) | 1,779 | |||||||||
| Net income (loss) before income taxes | 30,792 | (30,773 | ) | 91,310 | (22,189 | ) | |||||||||
| Provision for income taxes | 8,567 | 6,290 | 49,012 | 22,639 | |||||||||||
| Income (loss) from continuing operations | 22,225 | (37,063 | ) | 42,298 | (44,828 | ) | |||||||||
| Income (loss) from discontinued operations, net of income tax | (7,006 | ) | (3,026 | ) | (6,905 | ) | 24,208 | ||||||||
| Gain on sale of discontinued operations | 8,612 | 179,530 | 11,957 | 283,025 | |||||||||||
| Net income | 23,831 | 139,441 | 47,350 | 262,405 | |||||||||||
| Less: Net income (loss) attributable to noncontrolling interest | 13,631 | 2,828 | 37,426 | 16,423 | |||||||||||
| Less: Net income (loss) from discontinued operations attributable to noncontrolling interest | (1,721 | ) | (824 | ) | (2,884 | ) | (304 | ) | |||||||
| Net income attributable to Holdings | $ | 11,921 | $ | 137,437 | $ | 12,808 | $ | 246,286 | |||||||
| Basic income (loss) per common share attributable to Holdings | |||||||||||||||
| Continuing operations | $ | (0.10 | ) | $ | (0.75 | ) | $ | (1.25 | ) | $ | (1.81 | ) | |||
| Discontinued operations | 0.04 | 2.45 | 0.11 | 4.27 | |||||||||||
| $ | (0.06 | ) | $ | 1.70 | $ | (1.14 | ) | $ | 2.46 | ||||||
| Basic weighted average number of common shares outstanding | 75,505 | 72,429 | 75,454 | 72,105 | |||||||||||
| Cash distributions declared per Trust common share | $ | 0.25 | $ | 0.25 | $ | 1.00 | $ | 1.00 | |||||||
| Compass Diversified Holdings Net Income to Non-GAAP Adjusted Earnings and Non-GAAP Adjusted EBITDA - 2024 (Unaudited) | |||||||||||||||||||
| Three months ended | Year ended | ||||||||||||||||||
| (in thousands) | March 31, 2024 | June 30, 2024 | September 30, 2024 | December 31, 2024 | December 31, 2024 | ||||||||||||||
| Net income (loss) | $ | 5,781 | $ | (13,723 | ) | $ | 31,461 | $ | 23,831 | $ | 47,350 | ||||||||
| Income (loss) from discontinued operations, net of tax | 317 | 872 | (1,088 | ) | (7,006 | ) | (6,905 | ) | |||||||||||
| Gain on sale of discontinued operations, net of tax | 3,345 | — | — | 8,612 | 11,957 | ||||||||||||||
| Net income (loss) from continuing operations | $ | 2,119 | $ | (14,595 | ) | $ | 32,549 | $ | 22,225 | $ | 42,298 | ||||||||
| Less: income from continuing operations attributable to noncontrolling interest | 7,765 | 6,041 | 9,989 | 13,631 | 37,426 | ||||||||||||||
| Net income (loss) attributable to Holdings - continuing operations | $ | (5,646 | ) | $ | (20,636 | ) | $ | 22,560 | $ | 8,594 | $ | 4,872 | |||||||
| Adjustments: | |||||||||||||||||||
| Distributions paid - preferred shares | (6,045 | ) | (6,101 | ) | (6,345 | ) | (6,967 | ) | (25,458 | ) | |||||||||
| Amortization expense - intangible assets and inventory step-up | 27,116 | 26,642 | 24,956 | 26,341 | 105,055 | ||||||||||||||
| Impairment expense | 8,182 | — | — | — | 8,182 | ||||||||||||||
| Loss (gain) on sale of Crosman | — | 24,606 | (388 | ) | — | 24,218 | |||||||||||||
| Tax effect - loss on sale of Crosman | — | 7,254 | — | — | 7,254 | ||||||||||||||
| Non-controlling shareholder compensation | 4,071 | 3,680 | 4,537 | 4,057 | 16,345 | ||||||||||||||
| Acquisition expense | 3,479 | — | — | 1,872 | 5,351 | ||||||||||||||
| Integration services fee | — | 875 | 875 | 875 | 2,625 | ||||||||||||||
| Other | 274 | 130 | 964 | 11,820 | 13,188 | ||||||||||||||
| Adjusted earnings | $ | 31,431 | $ | 36,450 | $ | 47,159 | $ | 46,592 | $ | 161,632 | |||||||||
| Plus (less): | |||||||||||||||||||
| Depreciation expense | 10,730 | 10,339 | 10,180 | 12,642 | 43,891 | ||||||||||||||
| Income tax provision | 9,996 | 19,830 | 10,619 | 8,567 | 49,012 | ||||||||||||||
| Interest expense | 23,575 | 26,561 | 27,358 | 29,189 | 106,683 | ||||||||||||||
| Amortization of debt issuance costs | 1,005 | 1,004 | 1,005 | 1,004 | 4,018 | ||||||||||||||
| Income from continuing operations attributable to noncontrolling interest | 7,765 | 6,041 | 9,989 | 13,631 | 37,426 | ||||||||||||||
| Tax effect - loss on sale of Crosman | — | (7,254 | ) | — | — | (7,254 | ) | ||||||||||||
| Preferred distributions | 6,045 | 6,101 | 6,345 | 6,967 | 25,458 | ||||||||||||||
| Other | 2,879 | 1,375 | 60 | (412 | ) | 3,902 | |||||||||||||
| Adjusted EBITDA | $ | 93,426 | $ | 100,447 | $ | 112,715 | $ | 118,180 | $ | 424,768 | |||||||||
| Compass Diversified Holdings Net Income (Loss) to Non-GAAP Adjusted Earnings and Non-GAAP Adjusted EBITDA - 2023 (Unaudited) | |||||||||||||||||||
| Three months ended | Year ended | ||||||||||||||||||
| (in thousands) | March 31, 2023 | June 30, 2023 | September 30, 2023 | December 31, 2023 | December 31, 2023 | ||||||||||||||
| Net income (loss) | $ | 109,601 | $ | 17,123 | $ | (3,760 | ) | $ | 139,441 | $ | 262,405 | ||||||||
| Income (loss) from discontinued options, net of tax | 10,939 | 5,437 | 10,858 | (3,026 | ) | 24,208 | |||||||||||||
| Gain on sale of discontinued operations, net of tax | 97,989 | 4,232 | 1,274 | 179,530 | 283,025 | ||||||||||||||
| Net income (loss) from continuing operations | $ | 673 | $ | 7,454 | $ | (15,892 | ) | $ | (37,063 | ) | $ | (44,828 | ) | ||||||
| Less: income (loss) from continuing operations attributable to noncontrolling interest | 4,398 | 3,428 | 5,769 | 2,828 | 16,423 | ||||||||||||||
| Net income (loss) attributable to Holdings - continuing operations | $ | (3,725 | ) | $ | 4,026 | $ | (21,661 | ) | $ | (39,891 | ) | $ | (61,251 | ) | |||||
| Adjustments: | |||||||||||||||||||
| Distributions paid - preferred shares | (6,045 | ) | (6,046 | ) | (6,045 | ) | (6,045 | ) | (24,181 | ) | |||||||||
| Amortization expense - intangible assets and inventory step-up | 23,283 | 22,111 | 22,090 | 22,088 | 89,572 | ||||||||||||||
| Impairment expense | — | — | 32,568 | 56,832 | 89,400 | ||||||||||||||
| Tax effect - impairment expense | — | — | (4,308 | ) | 978 | (3,330 | ) | ||||||||||||
| Non-controlling interest - impairment expense | — | — | — | (5,382 | ) | (5,382 | ) | ||||||||||||
| Non-controlling shareholder compensation | 1,329 | 2,895 | 2,438 | 2,789 | 9,451 | ||||||||||||||
| Integration services fee | 1,187 | 1,188 | — | 2,375 | |||||||||||||||
| Other | 432 | 348 | 349 | 3,377 | 4,506 | ||||||||||||||
| Adjusted earnings | $ | 16,461 | $ | 24,522 | $ | 25,431 | $ | 34,746 | $ | 101,160 | |||||||||
| Plus (less): | |||||||||||||||||||
| Depreciation expense | 11,006 | 11,958 | 11,853 | 11,142 | 45,959 | ||||||||||||||
| Income tax provision | 7,471 | 4,421 | 4,457 | 6,290 | 22,639 | ||||||||||||||
| Interest expense | 26,180 | 26,613 | 27,559 | 24,828 | 105,180 | ||||||||||||||
| Amortization of debt issuance costs | 1,005 | 1,024 | 1,005 | 1,004 | 4,038 | ||||||||||||||
| Income from continuing operations attributable to noncontrolling interest | 4,398 | 3,428 | 5,769 | 2,828 | 16,423 | ||||||||||||||
| Tax effect - impairment expense | — | — | 4,308 | (978 | ) | 3,330 | |||||||||||||
| Non-controlling interest - impairment expense | — | — | — | 5,382 | 5,382 | ||||||||||||||
| Distributions paid - preferred shares | 6,045 | 6,046 | 6,045 | 6,045 | 24,181 | ||||||||||||||
| Other | (1,160 | ) | 75 | (1,044 | ) | 349 | (1,780 | ) | |||||||||||
| Adjusted EBITDA | $ | 71,406 | $ | 78,087 | $ | 85,383 | $ | 91,636 | $ | 326,512 | |||||||||
| Compass Diversified Holdings Net Income (Loss) from Continuing Operations to Non-GAAP Consolidated Adjusted EBITDA Reconciliation Three Months Ended December 31, 2024 (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | Corporate | 5.11 | BOA | Lugano | PrimaLoft | THP | Velocity Outdoor | Altor Solutions | Arnold | Sterno | Consolidated | ||||||||||||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | (8,045 | ) | $ | 2,040 | $ | 4,543 | $ | 35,133 | $ | (5,314 | ) | $ | (1,997 | ) | $ | (1,483 | ) | $ | (441 | ) | $ | (9,138 | ) | $ | 6,927 | $ | 22,225 | |||||||||||||||
| Adjusted for: | |||||||||||||||||||||||||||||||||||||||||||
| Provision (benefit) for income taxes | (2,095 | ) | (266 | ) | 1,042 | 11,294 | (2,010 | ) | (305 | ) | (264 | ) | (912 | ) | (196 | ) | 2,280 | 8,568 | |||||||||||||||||||||||||
| Interest expense, net | 29,134 | (11 | ) | (5 | ) | — | (55 | ) | (24 | ) | (1 | ) | — | 151 | — | 29,189 | |||||||||||||||||||||||||||
| Intercompany interest | (41,740 | ) | 3,252 | 4,409 | 15,596 | 4,390 | 2,725 | 1,635 | 5,159 | 1,808 | 2,766 | — | |||||||||||||||||||||||||||||||
| Depreciation and amortization | 51 | 5,536 | 5,343 | 2,763 | 5,331 | 4,163 | 1,363 | 9,303 | 2,511 | 3,623 | 39,987 | ||||||||||||||||||||||||||||||||
| EBITDA | (22,695 | ) | 10,551 | 15,332 | 64,786 | 2,342 | 4,562 | 1,250 | 13,109 | (4,864 | ) | 15,596 | 99,969 | ||||||||||||||||||||||||||||||
| Other (income) expense | — | (46 | ) | 489 | 280 | 176 | 8 | (1,177 | ) | 24 | — | (167 | ) | (413 | ) | ||||||||||||||||||||||||||||
| Non-controlling shareholder compensation | — | 499 | 1,331 | 775 | 559 | 517 | (153 | ) | 247 | 5 | 277 | 4,057 | |||||||||||||||||||||||||||||||
| Acquisition expenses | — | — | — | — | — | — | — | 1,872 | — | — | 1,872 | ||||||||||||||||||||||||||||||||
| Integration services fee | — | — | — | — | — | 875 | — | — | — | — | 875 | ||||||||||||||||||||||||||||||||
| Other | — | — | — | — | — | — | 1,500 | 696 | 9,546 | 78 | 11,820 | ||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | (22,695 | ) | $ | 11,004 | $ | 17,152 | $ | 65,841 | $ | 3,077 | $ | 5,962 | $ | 1,420 | $ | 15,948 | $ | 4,687 | $ | 15,784 | $ | 118,180 | ||||||||||||||||||||
| Compass Diversified Holdings Net Income (Loss) from Continuing Operations to Non-GAAP Consolidated Adjusted EBITDA Reconciliation Three Months Ended December 31, 2023 (Unaudited) | ||||||||||||||||||||||||||||||||||||||
| (in thousands) | Corporate | 5.11 | BOA | Lugano | PrimaLoft | Velocity Outdoor | Altor Solutions | Arnold | Sterno | Consolidated | ||||||||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | (12,982 | ) | $ | 9,840 | $ | 1,345 | $ | 20,847 | $ | (64,383 | ) | $ | (3,183 | ) | $ | 4,260 | $ | 3,523 | $ | 3,670 | $ | (37,063 | ) | ||||||||||||||
| Adjusted for: | ||||||||||||||||||||||||||||||||||||||
| Provision (benefit) for income taxes | 301 | 1,004 | 639 | 4,293 | (2,549 | ) | 289 | 1,797 | 921 | (406 | ) | 6,289 | ||||||||||||||||||||||||||
| Interest expense, net | 24,732 | (4 | ) | (9 | ) | — | (2 | ) | 120 | — | (11 | ) | — | 24,826 | ||||||||||||||||||||||||
| Intercompany interest | (33,291 | ) | 4,546 | 2,548 | 10,177 | 4,780 | 3,440 | 2,303 | 1,728 | 3,769 | — | |||||||||||||||||||||||||||
| Depreciation and amortization | 366 | 6,143 | 5,496 | 2,258 | 5,394 | 3,259 | 4,183 | 2,193 | 4,943 | 34,235 | ||||||||||||||||||||||||||||
| EBITDA | (20,874 | ) | 21,529 | 10,019 | 37,575 | (56,760 | ) | 3,925 | 12,543 | 8,354 | 11,976 | 28,287 | ||||||||||||||||||||||||||
| Other (income) expense | (1 | ) | — | (412 | ) | — | (19 | ) | (75 | ) | (66 | ) | (31 | ) | 1,239 | (4 | ) | (280 | ) | 351 | ||||||||||||||||||
| Non-controlling shareholder compensation | — | 203 | 950 | 162 | 761 | 228 | 186 | 1 | 298 | 2,789 | ||||||||||||||||||||||||||||
| Impairment expense | — | — | — | — | 57,810 | (978 | ) | — | — | — | 56,832 | |||||||||||||||||||||||||||
| Other | — | — | 3,072 | — | — | — | — | — | 305 | 3,377 | ||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | (20,875 | ) | $ | 21,320 | $ | 14,022 | $ | 37,662 | $ | 1,745 | $ | 3,144 | $ | 13,968 | $ | 8,351 | $ | 12,299 | $ | 91,636 | |||||||||||||||||
| Compass Diversified Holdings Net Income (Loss) from Continuing Operations to Non-GAAP Consolidated Adjusted EBITDA Reconciliation Year ended December 31, 2024 (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| (in thousands) | Corporate | 5.11 | BOA | Lugano | PrimaLoft | THP | Velocity Outdoor | Altor Solutions | Arnold | Sterno | Consolidated | ||||||||||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | (35,634 | ) | $ | 20,634 | $ | 20,791 | $ | 94,390 | $ | (10,575 | ) | $ | (9,761 | ) | $ | (54,851 | ) | $ | 5,635 | $ | (2,969 | ) | $ | 14,638 | $ | 42,298 | ||||||||||||||
| Adjusted for: | |||||||||||||||||||||||||||||||||||||||||
| Provision (benefit) for income taxes | (2,095 | ) | 4,526 | 4,962 | 31,304 | (3,741 | ) | (2,894 | ) | 6,810 | 2,280 | 2,986 | 4,874 | 49,012 | |||||||||||||||||||||||||||
| Interest expense, net | 106,414 | (14 | ) | (21 | ) | 3 | (70 | ) | (52 | ) | 52 | — | 371 | — | 106,683 | ||||||||||||||||||||||||||
| Intercompany interest | (157,585 | ) | 13,366 | 20,125 | 56,013 | 17,916 | 10,552 | 9,255 | 10,771 | 7,121 | 12,466 | — | |||||||||||||||||||||||||||||
| Depreciation and amortization | 677 | 22,734 | 21,594 | 10,334 | 21,318 | 18,974 | 8,042 | 21,553 | 9,265 | 18,473 | 152,964 | ||||||||||||||||||||||||||||||
| EBITDA | (88,223 | ) | 61,246 | 67,451 | 192,044 | 24,848 | 16,819 | (30,692 | ) | 40,239 | 16,774 | 50,451 | 350,957 | ||||||||||||||||||||||||||||
| Other (income) expense | 462 | 40 | 511 | 219 | 181 | 3 | 24,557 | 2,746 | (9 | ) | (590 | ) | 28,120 | ||||||||||||||||||||||||||||
| Non-controlling shareholder compensation | — | 2,129 | 5,683 | 2,437 | 2,382 | 1,674 | 403 | 988 | 18 | 631 | 16,345 | ||||||||||||||||||||||||||||||
| Impairment expense | — | — | — | — | — | 8,182 | — | — | — | 8,182 | |||||||||||||||||||||||||||||||
| Acquisition expenses | — | — | — | — | — | 3,479 | — | 1,872 | — | — | 5,351 | ||||||||||||||||||||||||||||||
| Integration services fee | — | — | — | — | — | 2,625 | — | — | — | — | 2,625 | ||||||||||||||||||||||||||||||
| Other | — | — | — | — | — | 90 | 1,500 | 696 | 10,426 | 476 | 13,188 | ||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | (87,761 | ) | $ | 63,415 | $ | 73,645 | $ | 194,700 | $ | 27,411 | $ | 24,690 | $ | 3,950 | $ | 46,541 | $ | 27,209 | $ | 50,968 | $ | 424,768 | ||||||||||||||||||
| Compass Diversified Holdings Net Income (Loss) from Continuing Operations to Non-GAAP Consolidated Adjusted EBITDA Reconciliation Year ended December 31, 2023 (Unaudited) | ||||||||||||||||||||||||||||||||||||||
| (in thousands) | Corporate | 5.11 | BOA | Lugano | PrimaLoft | Velocity Outdoor | Altor Solutions | Arnold | Sterno | Consolidated | ||||||||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | (60,454 | ) | $ | 21,690 | $ | 16,496 | $ | 52,315 | $ | (69,883 | ) | $ | (40,045 | ) | $ | 16,504 | $ | 10,434 | $ | 8,115 | $ | (44,828 | ) | ||||||||||||||
| Adjusted for: | ||||||||||||||||||||||||||||||||||||||
| Provision (benefit) for income taxes | 301 | 4,994 | 2,863 | 14,589 | (5,673 | ) | (5,616 | ) | 5,890 | 4,185 | 1,106 | 22,639 | ||||||||||||||||||||||||||
| Interest expense, net | 104,855 | (8 | ) | (18 | ) | 4 | (11 | ) | 352 | — | 5 | — | 105,179 | |||||||||||||||||||||||||
| Intercompany interest | (126,240 | ) | 20,244 | 7,580 | 32,837 | 18,123 | 13,510 | 10,486 | 6,806 | 16,654 | — | |||||||||||||||||||||||||||
| Depreciation and amortization | 1,498 | 26,009 | 22,932 | 9,229 | 21,478 | 13,282 | 16,741 | 8,441 | 19,959 | 139,569 | ||||||||||||||||||||||||||||
| EBITDA | (80,040 | ) | 72,929 | 49,853 | 108,974 | (35,966 | ) | (18,517 | ) | 49,621 | 29,871 | 45,834 | 222,559 | |||||||||||||||||||||||||
| Other (income) expense | (128 | ) | (515 | ) | 98 | (80 | ) | 62 | (1,210 | ) | 1,440 | (5 | ) | (1,441 | ) | (1,779 | ) | |||||||||||||||||||||
| Non-controlling shareholder compensation | — | 1,191 | 3,019 | 1,474 | 980 | 914 | 986 | 27 | 860 | 9,451 | ||||||||||||||||||||||||||||
| Impairment expense | — | — | — | — | 57,810 | 31,590 | — | — | — | 89,400 | ||||||||||||||||||||||||||||
| Integration services fee | — | — | — | — | 2,375 | — | — | — | — | 2,375 | ||||||||||||||||||||||||||||
| Other | — | — | 3,072 | — | — | — | — | — | 1,434 | 4,506 | ||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | (80,168 | ) | $ | 73,605 | $ | 56,042 | $ | 110,368 | $ | 25,261 | $ | 12,777 | $ | 52,047 | $ | 29,893 | $ | 46,687 | $ | 326,512 | |||||||||||||||||
| Compass Diversified Holdings Adjusted EBITDA (Unaudited) | ||||||||||||||||
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Branded Consumer | ||||||||||||||||
| 5.11 | $ | 11,004 | $ | 21,320 | $ | 63,415 | $ | 73,605 | ||||||||
| BOA | 17,152 | 14,022 | 73,645 | 56,042 | ||||||||||||
| Lugano | 65,841 | 37,662 | 194,700 | 110,368 | ||||||||||||
| PrimaLoft | 3,077 | 1,745 | 27,411 | 25,261 | ||||||||||||
| The Honey Pot Co. (1) | 5,962 | — | 24,690 | — | ||||||||||||
| Velocity Outdoor | 1,420 | 3,144 | 3,950 | 12,777 | ||||||||||||
| Total Branded Consumer | $ | 104,456 | $ | 77,893 | $ | 387,811 | $ | 278,053 | ||||||||
| Industrial | ||||||||||||||||
| Altor Solutions | $ | 15,948 | $ | 13,968 | $ | 46,541 | $ | 52,047 | ||||||||
| Arnold Magnetics | 4,687 | 8,351 | 27,209 | 29,893 | ||||||||||||
| Sterno | 15,784 | 12,299 | 50,968 | 46,687 | ||||||||||||
| Total Industrial | $ | 36,419 | $ | 34,618 | $ | 124,718 | $ | 128,627 | ||||||||
| Corporate expense | (22,695 | ) | (20,874 | ) | (87,761 | ) | (80,168 | ) | ||||||||
| Total Adjusted EBITDA | $ | 118,180 | $ | 91,637 | $ | 424,768 | $ | 326,512 | ||||||||
| (1 | ) | The above results for The Honey Pot Co. do not include management's estimate of Adjusted EBITDA, before the Company's ownership of | |
| Compass Diversified Holdings Net Sales to Pro Forma Net Sales Reconciliation (unaudited) | ||||||||||||
| Three months ended December 31, | Year ended December 31, | |||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||
| Net Sales | $ | 620,255 | $ | 544,915 | $ | 2,198,233 | $ | 1,965,017 | ||||
| Acquisitions (1) | — | 24,905 | 10,671 | 107,311 | ||||||||
| Pro Forma Net Sales | $ | 620,255 | $ | 569,820 | $ | 2,208,904 | $ | 2,072,328 | ||||
| (1 | ) | Acquisitions reflects the net sales for The Honey Pot Co. on a proforma basis as if we had acquired this business on January 1, 2023. | |
| Compass Diversified Holdings Subsidiary Pro Forma Net Sales (unaudited) | ||||||||||||
| Three months ended December 31, | Year ended December 31, | |||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||
| Branded Consumer | ||||||||||||
| 5.11 | $ | 144,768 | $ | 147,394 | $ | 532,161 | $ | 533,089 | ||||
| BOA | 48,141 | 42,435 | 190,811 | 155,825 | ||||||||
| Lugano | 149,685 | 104,750 | 470,666 | 308,321 | ||||||||
| PrimaLoft | 12,708 | 9,434 | 74,226 | 67,053 | ||||||||
| The Honey Pot (1) | 28,697 | 24,905 | 115,260 | 107,311 | ||||||||
| Velocity Outdoor | 19,008 | 45,842 | 96,427 | 172,190 | ||||||||
| Total Branded Consumer | $ | 403,007 | $ | 374,760 | $ | 1,479,551 | $ | 1,343,789 | ||||
| Industrial | ||||||||||||
| Altor Solutions | 81,322 | 56,417 | 239,068 | 238,030 | ||||||||
| Arnold Magnetics | 41,292 | 44,632 | 171,837 | 166,679 | ||||||||
| Sterno | 94,634 | 94,011 | 318,448 | 323,830 | ||||||||
| Total Industrial | $ | 217,248 | $ | 195,060 | $ | 729,353 | $ | 728,539 | ||||
| Total Subsidiary Net Sales | $ | 620,255 | $ | 569,820 | $ | 2,208,904 | $ | 2,072,328 | ||||
| (1 | ) | Net sales for The Honey Pot are pro forma as if we had acquired this business on January 1, 2023. | |
Compass Diversified Holdings
Condensed Consolidated Cash Flows
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net cash provided by (used in) operating activities | $ | 9,974 | $ | 21,128 | $ | (67,636 | ) | $ | 78,080 | |||||||
| Net cash provided by (used in) investing activities | (70,199 | ) | 466,213 | (422,450 | ) | 570,503 | ||||||||||
| Net cash provided by (used in) financing activities | 49,732 | (102,236 | ) | 100,614 | (260,163 | ) | ||||||||||
| Foreign currency impact on cash | (1,727 | ) | 636 | (1,278 | ) | 786 | ||||||||||
| Net increase (decrease) in cash and cash equivalents | (12,220 | ) | 385,741 | (390,750 | ) | 389,206 | ||||||||||
| Cash and cash equivalents - beginning of the period(1) | 71,947 | 64,736 | 450,477 | 61,271 | ||||||||||||
| Cash and cash equivalents - end of the period | $ | 59,727 | $ | 450,477 | $ | 59,727 | $ | 450,477 | ||||||||
| (1 | ) | Includes cash from discontinued operations of | |
| Compass Diversified Holding | ||||||||||||||||
| Selected Financial Data - Cash Flows | ||||||||||||||||
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Changes in operating assets and liabilities | $ | (37,286 | ) | $ | (24,390 | ) | $ | (292,884 | ) | $ | (160,281 | ) | ||||
| Purchases of property and equipment | $ | (22,858 | ) | $ | (17,239 | ) | $ | (56,701 | ) | $ | (55,016 | ) | ||||
| Distributions paid - common shares | $ | (18,913 | ) | $ | (17,955 | ) | $ | (75,490 | ) | $ | (71,967 | ) | ||||
| Distributions paid - preferred shares | $ | (6,967 | ) | $ | (6,045 | ) | $ | (25,458 | ) | $ | (24,181 | ) | ||||
FAQ
What were CODI's Q4 2024 financial results compared to Q4 2023?
How much did Compass Diversified sell Ergobaby for in December 2024?
What is CODI's revenue guidance and outlook for 2025?
How many shares did CODI repurchase in Q4 2024 and at what price?
What was Compass Diversified's full-year 2024 revenue growth?
