Compass Diversified - CODI STOCK NEWS

Compass Diversified (CODI) reported strong first-quarter results for 2021, with net sales reaching $461.6 million and net income at $22.0 million. The Adjusted EBITDA increased to $88.0 million, driven by the success of recent acquisitions, including Marucci and BOA. The company generated $36.4 million in cash from operating activities and $46.2 million in cash flow available for distribution. CODI raised its full-year guidance, estimating consolidated Adjusted EBITDA between $325 million and $345 million. Additionally, a potential tax reclassification could impact distributions.

Compass Diversified (NYSE: CODI) plans to release its first-quarter financial results for 2021 on April 29, after market close. A conference call with executives, including CEO Elias J. Sabo and CFO Ryan J. Faulkingham, will follow at 5:00 p.m. ET. Participants can join via phone or a live webcast on the company's Investor Relations page. The call will also be available for replay until June 5. CODI is focused on long-term value creation through its diversified middle-market business model, leveraging its controlling interests in subsidiaries to enhance cash flow generation.

Compass Diversified (NYSE: CODI) declared a quarterly cash distribution of $0.36 per share on its common shares, payable on April 22, 2021. Additionally, distributions for its preferred shares are set at $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on April 30, 2021. The distributions reflect CODI's strategy of leveraging its permanent capital base to maximize cash flow generation and value creation across its diversified portfolio of middle-market businesses.

Compass Diversified (CODI) announced successful refinancing efforts that include offering $1 billion of 5.250% senior unsecured notes due in 2029. The refinancing has reduced CODI's weighted average cost of debt and extended its maturity profile. Effective April 1, 2021, the company will redeem its existing 8.000% Senior Notes due 2026. Additionally, CODI has access to $569 million of its $600 million revolving credit facility for future acquisitions, positioning the company to leverage its capital structure for growth and increased liquidity.

Compass Diversified (NYSE: CODI) announced the pricing of $1 billion in 5.250% senior unsecured notes due 2029, set to close on March 23, 2021. The notes will be senior unsecured obligations, not guaranteed by subsidiaries. Proceeds will be used to repay existing debt and redeem 8.000% Senior Notes due 2026. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The notes will not be registered under the Securities Act, limiting their sales without registration.

Compass Diversified (NYSE: CODI) announced plans to offer $750 million in senior unsecured notes due 2029. The proceeds will be used to refinance existing debt and redeem 8.000% Senior Notes due 2026. This offering is not contingent on other transactions and is limited to qualified institutional buyers under Rule 144A and non-U.S. Persons under Regulation S. The notes will not be registered under the Securities Act and are described as the company's senior unsecured obligations. The press release includes forward-looking statements regarding CODI's future performance.

Compass Diversified (CODI) reported robust financial performance for Q4 2020, achieving net sales of $474.8 million and net income of $8.8 million. For the full year, net sales reached $1.561 billion, with net income reported at $27.2 million. The company demonstrated strong cash flow with Adjusted EBITDA of $79.8 million for Q4 and $249.2 million for the year. CODI's strategic acquisitions of Marucci and BOA contributed to this growth, while a distribution of $0.36 per common share was declared for Q4. Guidance for 2021 predicts Adjusted EBITDA between $305 million and $325 million.

Compass Diversified Holdings (CODI) announced that shareholders can access their individual tax reporting information by February 22, 2021. The company will mail Investor Tax Reporting packages starting February 23, summarizing reportable tax items for the year ended December 31, 2020. CODI is not subject to federal or state income tax, allowing its annual income to flow directly to shareholders. Shareholders are advised to verify their tax statements and consult a tax advisor for guidance.

Compass Diversified (CODI) plans to release its Q4 2020 financial results on February 24, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results, featuring the CEO and CFO. Investors can join the call by dialing (833) 900-1532 domestically or (236) 712-2273 internationally, with passcode 1291438. A replay will be available until March 3, 2021. CODI focuses on middle market businesses and aims to leverage its investments for long-term growth, maintaining controlling ownership in its subsidiaries.