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 (NYSE: CODI) generates a steady flow of news as an owner of middle-market branded consumer and industrial businesses. This CODI news page aggregates company-issued press releases and related coverage, including quarterly earnings announcements, updates on credit facilities, preferred share distributions, restatement milestones and developments involving its subsidiaries. Because CODI operates as a holding company with multiple operating businesses, its news often spans financial performance, capital structure actions and portfolio-level events.
Recent disclosures highlight CODI’s efforts to bring its financial reporting fully current, including the filing of restated financial statements for prior years and subsequent Quarterly Reports on Form 10-Q. Earnings releases provide consolidated operating results, reconciliations of GAAP to non-GAAP measures such as Adjusted EBITDA and Adjusted Earnings (Loss), and commentary on the performance of its operating subsidiaries, excluding Lugano. Investors can also follow updates on CODI’s outlook for subsidiary Adjusted EBITDA and explanations of how non-GAAP metrics are used to evaluate the portfolio.
Another key news theme is CODI’s capital structure and liquidity management. Press releases and Form 8-K filings describe amendments to its Third Amended and Restated Credit Agreement, waivers of certain events of default, restoration of revolving credit capacity and related forbearance arrangements with senior lenders. Announcements also cover quarterly cash distributions on CODI’s Series A, Series B and Series C preferred shares, including record dates and payment dates.
News items additionally address the investigation into financial irregularities at Lugano Holding, Inc., the resulting restatement of CODI’s financial statements, and Lugano’s Chapter 11 filing. CODI’s communications emphasize that the Lugano issues are isolated to that subsidiary and outline steps being taken with lenders and other stakeholders. For investors tracking CODI stock and its preferred shares, this page offers a centralized view of earnings results, governance and listing updates, credit facility amendments, restatement progress and other material events disclosed through press releases and SEC filings.
Compass Diversified Holdings (NYSE: CODI) announced the retirement of director James J. Bottiglieri, who will step down prior to the company's 2025 annual shareholders meeting. Bottiglieri, who joined the Board in December 2005, previously served as the Company's Chief Financial Officer and Executive Vice President from 2005 to 2013.
The company does not plan to fill the Board vacancy created by Bottiglieri's retirement. During his tenure, Bottiglieri played a important role in CODI's initial public offering in 2006 and established strong financial controls and shareholder transparency measures. He will continue serving on the company's Nominating and Corporate Governance Committee and Audit Committee until the 2025 Annual Meeting.
Compass Diversified (NYSE: CODI) has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 27, 2025, after market close. The company will host a conference call at 5:00 p.m. ET / 2:00 p.m. PT on the same day to discuss the results.
The earnings call will feature CEO Elias Sabo, CFO Stephen Keller, and Compass Group Management COO Pat Maciariello. Investors can access the live webcast through CODI's Investor Relations website, with dial-in details available through a registration link. Participants are encouraged to join 15 minutes before the scheduled start time to avoid delays.
Compass Diversified Holdings (NYSE: CODI) has announced a significant amendment to its Management Services Agreement with Compass Group Management , effective January 1, 2025. The new structure introduces a tiered base management fee system and an incentive management fee.
The base management fee will be:
- 2.0% for adjusted net assets up to $3.5 billion
- Initial threshold fee plus 1.25% for assets between $3.5-10 billion
- 1.5% for assets of $10 billion or more
An additional incentive fee of 0.25% applies on assets exceeding $3.5 billion (up to $10 billion), contingent on achieving a three-year annualized internal rate of return above 12% and requires Compensation Committee approval. The amendment also eliminates integration services fees and excludes excess cash from adjusted net assets calculations.
Compass Diversified Holdings (NYSE: CODI) has announced a significant amendment to its Credit Agreement with Bank of America on January 9, 2025. The amendment includes two key components: an immediate $200 million Incremental Term Loan and $100 million in Delayed Draw Term Loan Commitments available until July 9, 2025.
The funds will support new acquisitions, working capital, capital expenditures, and general corporate purposes. The Incremental Term Loan requires quarterly repayments ranging from $3.75 million to $11.25 million starting March 31, 2025, with final payment due July 12, 2027. The Delayed Draw Term Loan allows for up to two draws and can be reduced or terminated with five days' notice.
Compass Diversified Holdings (NYSE: CODI) announced changes to its Board of Directors. Director Gordon M. Burns will not seek re-election at the 2025 annual shareholders meeting and stepped down as Chair of the Nominating & Corporate Governance Committee on January 3, 2025. Burns, who joined the Board in 2008, will remain on the Board and as a member of both the Nominating and Compensation Committees until the 2025 meeting.
Nancy B. Mahon, who has served as a director since May 2023, has been appointed as the new Chair of the Nominating Committee. Mahon currently serves as Chief Sustainability Officer at The Estée Lauder Companies and holds a juris doctor degree from NYU School of Law.
Compass Diversified (NYSE: CODI) announced its Board of Directors has declared quarterly cash distributions for the fourth quarter of 2024. A distribution of $0.25 per share will be paid on January 23, 2025, to holders of Common Shares as of January 16, 2025. Additionally, distributions for the Series A, B, and C Preferred Shares have been declared. Series A Preferred Shares will receive $0.453125 per share, Series B Preferred Shares will receive $0.4921875 per share, and Series C Preferred Shares will also receive $0.4921875 per share. These distributions will be paid on January 30, 2025, to holders of record as of January 15, 2025.
The distributions should generally be considered qualified dividends for U.S. federal income tax purposes, provided the requisite holding period is met. However, CODI does not expect all distributions paid in 2024 to be qualified dividends due to expected earnings and profits being below cash distributions. Any excess will be treated as a non-taxable return of capital or capital gain. Final tax statuses for 2024 and 2025 distributions will be reported in early 2025 and 2026, respectively.
Highlander Partners has announced the acquisition of Ergobaby from Compass Diversified (NYSE: CODI). Founded in 2003 and based in Los Angeles, Ergobaby is the global market leader in premium baby carriers, operating through a workforce of 170 employees across more than 1,800 retail locations in over 75 countries.
The company manages three main brands: Ergobaby (flagship premium baby carriers), Tula (functional carriers with expressive prints), and Belly Bandit (maternity and postpartum solutions). Their product line includes carriers, wraps, strollers, bouncers, highchairs, and various maternity accessories.
Highlander Partners plans to pursue growth through product innovation, market expansion, and implementing a "buy and build" strategy with potential M&A opportunities in the juvenile products market.
Compass Diversified (NYSE: CODI) has announced the sale of its majority-owned subsidiary, Ergobaby, to Highlander Partners, L.P., a Dallas-based private investment firm. The transaction was simultaneously agreed upon and completed. Proceeds from the sale will be allocated towards debt reduction and general corporate purposes.
Ergobaby, known for its premium juvenile products, will transition to new ownership under Highlander. CODI's CEO Elias Sabo expressed pride in Ergobaby's position as a global leader and indicated plans to continue acquiring and managing innovative brands to drive long-term shareholder value.
Compass Diversified (NYSE: CODI) has announced its upcoming investor day scheduled for January 16, 2025, at Convene's One Liberty Plaza in New York City. The event will run from 9:30 AM to 1:30 PM ET and will feature multiple segments including:
• A presentation and Q&A session with CODI's executive management team
• A panel discussion moderated by CEO Elias Sabo featuring CEOs from 5.11 Tactical, PrimaLoft, and Altor Solutions
• A self-guided interactive tour showcasing CODI's 10 businesses
• Continental breakfast and lunch
Interested parties can attend either in-person by RSVPing to CODI@gateway-grp.com or virtually through a webcast link. Virtual attendees are advised to allow extra time for necessary software downloads.
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
FAQ
What is the current stock price of Compass Diversified (CODI)?
What is the market cap of Compass Diversified (CODI)?
