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 financial results for the fourth quarter and full year 2022, with net sales increasing 6% to $594.9 million in Q4 and 17% to $2.3 billion for the full year. However, the company faced a net loss of $11.8 million in Q4, contrasted with a net income of $25.9 million in the previous year, attributed to a $20.6 million impairment related to the Ergobaby subsidiary. Adjusted EBITDA rose 5% to $87.3 million in Q4, while full-year Adjusted EBITDA increased 20% to $369.8 million. Looking ahead, CODI expects 2023 Adjusted EBITDA between $420 million and $460 million, and Adjusted Earnings of $105 million to $135 million.
Compass Diversified (NYSE: CODI) announced plans to release its financial results for the fourth quarter ended December 31, 2022, on March 1, 2023, after market close. The Company will hold a conference call to discuss these results at 5:00 p.m. ET on the same day. Interested participants can join the call by dialing (888) 396-8049 domestically or (416) 764-8646 internationally, with a Conference ID of 74552633. Those unable to attend can access a replay until March 8, 2023, and the webcast will be available on its Investor Relations website for 30 days.
CODI specializes in owning and managing a portfolio of middle-market businesses across various sectors, leveraging a permanent capital base for growth and stability.
Compass Diversified (NYSE: CODI) has completed the sale of its majority-owned subsidiary, Advanced Circuits, Inc., to APCT, Inc. for an enterprise value of $220 million. After adjustments, CODI received approximately $170 million in proceeds from the transaction. The sale is expected to generate a pre-tax gain of $100 million to $110 million for CODI. The net proceeds will be utilized to pay off outstanding revolving credit borrowings.
CEO Elias Sabo expressed pride in the partnership over the past sixteen years, emphasizing the value generated for shareholders. The deal was advised by Jefferies LLC and legal counsel provided by Ropes & Gray LLP.
Compass Diversified Holdings (NYSE: CODI) has authorized a share repurchase program allowing for the buyback of up to $50 million of its common shares. This initiative reflects the company's strong financial performance and operational results, with CEO Elias Sabo emphasizing confidence in CODI's future. The repurchases may occur through various means until December 31, 2023, considering market conditions and regulatory compliance. CODI's strategy involves maintaining controlling interests in middle-market businesses, enabling long-term cash flow generation and value creation.
Compass Diversified (NYSE: CODI) hosted its Investor Day in New York City on January 19, 2023, featuring presentations from CODI management and Mike Joyce, CEO of PrimaLoft. The event showcased CODI’s consumer businesses and discussed strategic initiatives, including expansion into the Healthcare vertical. CEO Elias Sabo highlighted the company's transformation and ongoing core growth. The agenda included a financial performance overview, M&A market expectations for 2023, and updates on ESG initiatives. The presentations aimed to reinforce CODI’s strong financial standing and growth opportunities across its diversified portfolio.
Compass Diversified (NYSE: CODI) has announced a definitive agreement to sell its majority-owned subsidiary, Advanced Circuits, to APCT for an enterprise value of $220 million in cash. The transaction is expected to result in a pre-tax gain of $100 million to $110 million for CODI. The sale proceeds will be utilized to pay off outstanding borrowings. This strategic move is viewed as beneficial for CODI, as it aims to strengthen financial flexibility and create shareholder value. The deal is anticipated to close in February 2023, subject to regulatory approval.
Compass Diversified (NYSE: CODI) announced a quarterly cash distribution of $0.25 per common share, payable on January 26, 2023. The Board also declared distributions for its preferred shares: $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on January 30, 2023. The distributions are expected to be classified as qualified dividends for U.S. federal income tax purposes. CODI anticipates cash distributions will exceed earnings and profits for the 2022 taxable year, benefiting certain retirement accounts.
Compass Diversified (NYSE: CODI) will host its Investor Day on January 19, 2023, at 11 am ET in New York City. The event will include presentations from CODI management and its subsidiary, PrimaLoft, along with Q&A sessions. The agenda features:
- 11:00am – 11:40am: Check-in and CODI’s consumer business walkthrough
- 11:40am – 12:00pm: PrimaLoft product experience
- 12:00pm – 12:30pm: Lunch
- 12:15pm – 12:45pm: PrimaLoft presentation
- 12:45pm – 1:30pm: Compass Diversified presentation
RSVP for in-person attendance or register for virtual attendance.
Compass Diversified (CODI) reported a 22% increase in net sales for Q3 2022, reaching $597.6 million, driven by strong performance in branded consumer and niche industrial segments. Operating income rose 16% to $48.7 million, while adjusted earnings increased 28% to $46.0 million. However, net income fell significantly to $2.6 million compared to $90.2 million in Q3 2021, due to a one-time gain last year. The company also raised its full-year outlook for adjusted EBITDA to $460-$470 million.
Kurt Roth has been appointed as Partner and Head of Healthcare at Compass Diversified (NYSE: CODI) as part of the company's expansion into a new healthcare vertical. CEO Elias Sabo emphasized the importance of leadership in launching this segment, identifying healthcare as a high-growth sector with strong barriers to entry. Roth, formerly of Sotera Health Company, brings 25 years of strategic planning and deal-making expertise. CODI aims to leverage healthcare's growth potential to enhance its existing subsidiary capabilities, aligning with its long-term value creation strategy.
FAQ
What is the current stock price of Compass Diversified (CODI)?
What is the market cap of Compass Diversified (CODI)?
What does Compass Diversified Holdings (CODI) do?
When was Compass Diversified Holdings founded?
What are the main business segments of CODI?
What companies are included in CODI's branded consumer businesses?
What is CODI’s approach to business growth?
What recent achievements has CODI made?
Where does CODI operate?
How can I contact CODI for investor relations?
How can I contact CODI for media inquiries?
What is The Honey Pot Company?
