Welcome to our dedicated page for Clarus Corporation news (Ticker: CLAR), a resource for investors and traders seeking the latest updates and insights on Clarus Corporation stock.
Clarus Corporation (NASDAQ: CLAR) is a global leader in the design, development, manufacturing, and distribution of high-quality outdoor equipment and lifestyle products. Based in Salt Lake City, Utah, Clarus operates two main segments: Black Diamond and Sierra. These segments cater to various outdoor enthusiasts, including climbers, skiers, mountaineers, trail runners, and adventurers.
The Black Diamond segment specializes in activity-based apparel such as shells, insulation, midlayers, pants, and logowear. It also provides rock-climbing footwear and equipment, technical backpacks, trekking poles, headlamps, gloves, and a wide range of ski equipment. Noteworthy products include avalanche airbag systems, avalanche transceivers, and ice-climbing gear. This segment targets those passionate about climbing, mountaineering, trail running, and skiing.
On the other side, the Sierra segment encompasses brands like Rhino-Rack, MAXTRAX, and TRED Outdoors. This segment focuses on highly-engineered automotive roof racks, mounting systems, luggage boxes, and recovery boards. Rhino-Rack and MAXTRAX products are especially popular in Australia, New Zealand, and the United States.
In recent achievements, Clarus has shown resilience despite challenging macroeconomic conditions. The company reported financial results for the third quarter of 2023, showcasing strategic realignment efforts. Clarus has acquired TRED Outdoors, an innovative, fast-growing brand in the outdoor adventure market. This acquisition aims to expand the company’s product portfolio and enhance its recovery board solutions.
In terms of financial health, Clarus ended 2023 with a strong balance sheet, zero debt, and over $40 million in cash. The company has a streamlined focus on its two main segments poised for growth. With a positive outlook for 2024, Clarus expects total annual net sales to range between $270 million to $280 million and adjusted EBITDA of $16 million to $18 million.
Clarus continues to align its inventory levels with market demands and simplify its organizational structure. The company prioritizes innovation and sustainability, aiming to enhance profitability and unlock new opportunities in the outdoor and adventure sports markets.
For more information on Clarus Corporation, visit their official website at www.claruscorp.com.
Clarus (NASDAQ: CLAR) reported Q2 2024 financial results, showing mixed performance. Sales decreased slightly to $56.5 million from $57.9 million year-over-year. The company faced challenges with gross margin declining to 36.1% from 39.0%. Clarus reported a net loss of $5.5 million, or $(0.14) per diluted share, compared to a net loss of $2.1 million in the same period last year. The Adventure segment saw a 13.6% increase in sales, while the Outdoor segment experienced a decline. Despite market headwinds, Clarus reaffirmed its full-year revenue guidance but revised its adjusted EBITDA expectations downward. The company also announced strategic hires for the Adventure segment and initiated a review of its PIEPS snow safety brand.
Clarus (NASDAQ: CLAR), a global company focused on outdoor enthusiast markets, has announced a regular quarterly cash dividend of $0.025 per share. The dividend will be paid on August 19, 2024, to stockholders of record as of August 9, 2024. This announcement demonstrates Clarus' commitment to providing consistent returns to its shareholders, maintaining its dividend policy despite potential market uncertainties. The regular dividend payout suggests financial stability and confidence in the company's cash flow generation capabilities.
Clarus (NASDAQ: CLAR), a global company focused on outdoor enthusiast markets, has announced its second quarter 2024 conference call scheduled for Thursday, August 1, 2024, at 5:00 pm ET. The company will discuss its financial results for the quarter ended June 30, 2024. The financial results will be released in a press release after the close of regular stock market trading hours on the same day.
Investors and interested parties can access the call by dialing (833)-630-1956 (domestic) or (412)-317-1837 (international) and requesting to join the Clarus call. Additionally, a live broadcast and replay of the conference call will be available on the company's website at www.claruscorp.com.
Clarus (NASDAQ: CLAR) has made three strategic hires for its Adventure segment to accelerate growth and strengthen global initiatives. The appointments include:
1. Tripp Wyckoff as General Manager of Adventure Americas
2. David Cook as Global Head of OEM
3. Daniel Bruntsch as Head of EMEA Sales
These hires aim to enhance go-to-market capabilities in key regions and expand OEM relationships globally. Wyckoff brings extensive industry knowledge and experience in scaling brands. Cook will focus on bringing Clarus' products to global OEM customers. Bruntsch will lead initiatives to expand customer relationships across Europe, the Middle East, and Africa.
The appointments are part of Clarus' strategy to invest in scaling its Adventure segment, which includes Rhino-Rack, MAXTRAX, and TRED Outdoors brands.
Clarus (NASDAQ: CLAR), a global leader in the outdoor enthusiast market, has announced its participation in several upcoming investor conferences. CFO Mike Yates will represent the company at the 24th Annual B. Riley Institutional Investor Conference on May 22, 2024, in Beverly Hills, CA. He will also present at the Stifel Cross Sector Insight Conference on June 4, 2024, in Boston, MA, from 3:35 PM to 4:05 PM ET. Additionally, Yates will attend the Jefferies Consumer Conference on June 17-18, 2024, in Nantucket, MA. The company invites interested parties to contact their respective conference representatives for more information or to schedule one-on-one meetings.
Clarus (NASDAQ: CLAR) reported financial results for the first quarter of 2024, showing an increase in quarterly adventure sales by 27% and a reduction in apparel inventory by 38%. The company reaffirmed its full-year guidance and emphasized its focus on simplification, right-sizing, and new product launches in the outdoor enthusiast markets. Sales in the Adventure segment increased by 27%, driven by OEM customer demand, while the Outdoor segment faced challenges in the European wholesale market. Despite a decrease in gross margin due to promotional pricing and inventory reserves, Clarus remains committed to enhancing margins and profitability.
Clarus (NASDAQ: CLAR) has declared a regular quarterly cash dividend of $0.025 per share for its stockholders. The dividend will be paid on May 20, 2024, to shareholders of record as of May 10, 2024.
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