Welcome to our dedicated page for Clarus news (Ticker: CLAR), a resource for investors and traders seeking the latest updates and insights on Clarus stock.
Clarus Corporation (NASDAQ: CLAR) is a manufacturing company focused on outdoor enthusiast markets, with products sold under the Black Diamond®, Rhino-Rack®, MAXTRAX®, TRED Outdoors® and RockyMounts® brands. This news page aggregates company announcements and third-party coverage related to CLAR stock, giving investors and outdoor industry followers a single place to review recent developments.
Clarus regularly issues quarterly earnings press releases and hosts conference calls to discuss its financial results. These updates provide detail on sales trends in its Outdoor and Adventure segments, gross margin drivers, restructuring charges, transaction costs, and non-GAAP metrics such as adjusted EBITDA and free cash flow. News items also cover how macroeconomic conditions, tariffs and consumer demand are affecting the company’s performance in domestic and international markets.
In addition to earnings, Clarus news often includes capital allocation decisions such as the board’s confirmation of regular quarterly cash dividends of $0.025 per share, with specified record and payment dates. Corporate actions, including acquisitions and divestitures, are also highlighted. For example, the company has announced and completed the sale of its PIEPS snow safety brand and related avalanche pack intellectual property to a private investment firm, describing this as part of its effort to simplify the business and rationalize product categories.
Visitors to this page can review CLAR-related headlines covering segment leadership changes, strategic reviews, and commentary from Clarus’ executive chairman on the outlook for its Outdoor and Adventure segments. For anyone tracking Clarus stock, the outdoor equipment and lifestyle products market, or the performance of brands like Black Diamond and Rhino-Rack, this news feed offers a centralized view of the company’s most recent public communications.
Clarus Corporation (NASDAQ: CLAR) reported a remarkable 144% increase in Q2 2021 sales to a record $73.3 million, driving net income to $1.8 million compared to a loss of $(2.7) million last year. Adjusted EBITDA soared to $11.7 million, up from $(1.3) million. The company raised its full-year sales outlook to $350 million, reflecting a projected 56% growth. The acquisition of Rhino-Rack for approximately $205 million is expected to contribute positively, with anticipated sales of $40 million in the latter half of 2021.
Clarus Corporation (NASDAQ: CLAR) has announced a regular quarterly cash dividend of $0.025 per share, payable on August 20, 2021, to stockholders of record as of August 9, 2021. This dividend payment reflects the company's commitment to returning value to its shareholders. Clarus is known for its innovative outdoor and lifestyle products, with a strong portfolio that includes Black Diamond and Sierra. The announcement underscores the company's financial stability and ongoing focus on shareholder returns.
On August 2, 2021, Clarus Corporation (NASDAQ: CLAR) will hold a conference call at 5:00 p.m. Eastern time to discuss its financial results for Q2 2021, ending June 30. An earnings press release will be issued post-market hours that same day. Interested parties can access the call via toll-free or international dial-in numbers, with replay options available after 8:00 p.m. Eastern time until August 16. Clarus operates in the outdoor and consumer enthusiast markets, offering brands like Black Diamond and Sierra.
Clarus Corporation (NASDAQ: CLAR) has successfully acquired Australia's Rhino-Rack Pty Ltd for a total of $AUD 273 million (approximately $USD 207 million), including cash and stock. The acquisition is expected to enhance Clarus's portfolio and is immediately accretive to earnings. Rhino-Rack generated $AUD 115 million (approximately $USD 90 million) in sales over the past twelve months. Clarus aims to expand Rhino-Rack's presence in North America while maintaining growth in Australia and New Zealand. The company plans to update its financial outlook during its August earnings call.
Clarus Corporation announced an upsized credit facility in conjunction with its acquisition of Rhino-Rack. The new agreement includes a $100 million revolving credit facility and a $125 million term loan, along with an uncommitted $50 million accordion feature, totaling $275 million. The financing will support the cash considerations for the acquisition, enhancing Clarus' financial flexibility as it aims to implement its growth strategy. The facility's interest rates range from 1.50% to 2.625% annually, maturing on May 3, 2024.
Clarus Corporation (NASDAQ: CLAR) is participating in two upcoming virtual conferences. The Stifel 2021 Virtual Cross Sector Insight Conference is on June 8 at 2:00 p.m. ET, and the Jefferies 2021 Virtual Consumer Conference is set for June 22 at 10:55 a.m. ET. These presentations will cover the company's focus on outdoor and lifestyle products, including brands like Black Diamond, Sierra, and Barnes. Interested parties can contact the company's investor relations for more information.
Clarus Corporation (NASDAQ: CLAR) has announced the acquisition of Rhino-Rack Pty Ltd for approximately $198 million, comprising $150 million in cash and 2.3 million shares. Rhino-Rack, an Australian manufacturer, will operate as a subsidiary, enhancing Clarus's global reach and product offerings in the outdoor market. The transaction, expected to close in July 2021, aims to capitalize on Rhino-Rack's robust market position and is anticipated to be immediately accretive to earnings. The acquisition aligns with Clarus' strategy to expand its portfolio of outdoor enthusiast products.
Clarus Corporation (NASDAQ: CLAR) reported a robust financial performance for Q1 2021, with sales rising 41% year-over-year to $75.3 million. The company raised its full-year outlook, expecting sales to grow 32% to $295 million. Key highlights include a substantial net income increase to $5.7 million, and adjusted EBITDA rising 191% to $10.6 million. Gross margin improved to 35.9%. Despite a free cash flow of $(3.9) million, management expressed confidence in the continued demand across its brand portfolio, emphasizing strong performance in the Black Diamond and Sierra segments.
Clarus Corporation (NASDAQ: CLAR) has nominated Susan Ottmann to its Board of Directors, with a vote set for June 2, 2021. Ottmann brings over 25 years of experience in engineering, marketing, and leadership roles. She has directed programs at the University of Wisconsin – Madison and managed Thermo Fisher Scientific’s analytics business, overseeing 770 employees globally. Her expertise is expected to aid Clarus in its growth strategy. This nomination reflects Clarus’ commitment to strengthen leadership and enhance shareholder value in the outdoor equipment market.
Clarus Corporation (NASDAQ: CLAR) has appointed Anthony Rivera as the business unit director for Black Diamond Equipment's apparel category. Rivera, who previously worked at Arc’Teryx, brings over 12 years of experience in merchandising and revenue management. His role will focus on strategic direction, product development, and business planning for the apparel line, which is expanding to cater to climbers, backcountry skiers, and trail runners. Clarus President John Walbrecht expressed excitement over Rivera's appointment, highlighting his passion for the brand and technical expertise.