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) 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.
Compass Diversified (CODI) plans to release its third-quarter financial results for the period ending September 30, 2022, on November 3, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET, where management will discuss the results. Participants can join by calling either (888) 396-8049 or (416) 764-8646 and entering Conference ID 66435663. The call will also be available via live webcast. A replay will be accessible until November 10, 2022.
Compass Diversified (CODI) has announced a quarterly cash distribution of $0.25 per share for common shares, payable on October 27, 2022. The record date for this payment is October 20, 2022. Additional distributions for preferred shares are also declared, with $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on October 30, 2022. These distributions generally qualify as “qualified dividends” for U.S. federal income tax, ensuring beneficial tax treatment for shareholders.
Sterno has launched the Bring the Heat campaign, recognizing the efforts of foodservice employees adapting to industry challenges. Nominations are open until October 28, 2022, for employees demonstrating leadership and customer service excellence. The winner will receive a $5,000 honorarium and a commemorative plaque. The foodservice sector is projected to rebound, reaching $898 billion in sales and adding 400,000 jobs in 2023. Craig Carnes, CEO of Sterno, emphasizes the resilience of these unsung heroes during recovery.
On September 15, 2022, 5.11 Tactical, a subsidiary of Compass Diversified (CODI), announced the grand opening of its 100th retail store in Oxnard, California, scheduled for September 17, 2022. CEO Francisco J. Morales highlighted the milestone as a significant achievement in their retail strategy, which has expanded their customer engagement. Since partnering with CODI in 2016, 5.11 has experienced substantial revenue growth, achieving a 9% CAGR in revenue and a 23% CAGR in adjusted EBITDA from 2018 to 2021, aided by over $70 million in growth capital investment.
Compass Diversified (CODI) reported a 19% increase in net sales to $515.6 million in Q2 2022, marking its sixth consecutive quarter of record performance. Gross profit surged 38% to $50.3 million, and net income climbed to $31.0 million, a significant turnaround from a $11.3 million loss a year earlier. The company announced its acquisition of PrimaLoft and raised its full-year Adjusted EBITDA outlook to between $445 million and $470 million. CODI also declared a cash distribution of $0.25 per share, reflecting strong shareholder returns amidst macroeconomic challenges.
Compass Diversified (NYSE: CODI) announced the termination of the Merger Agreement with Tempo Automation, originally established on October 13, 2021, for the sale of its subsidiary, Advanced Circuits. This decision comes amid ongoing delays in a separate SPAC transaction that would have facilitated the merger. CEO Elias Sabo expressed confidence in Advanced Circuits' future and its performance under CODI's ownership, indicating potential value growth for shareholders.
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What is The Honey Pot Company?
