Clarus Corp Stock Price, News & Analysis

Clarus Corporation (NASDAQ: CLAR) acknowledged recent market volatility affecting its stock, stating no material developments contributed to this activity. Parallax Volatility Advisers acquired over 5% of Clarus' shares without board approval, violating a rights agreement aimed at preserving net operating losses. Clarus may pursue remedies to dilute Parallax's ownership. Additionally, Clarus has a $50 million stock repurchase program and had $13.9 million in cash as of June 30, 2022, with $274.5 million available on its revolving credit line.

Clarus Corporation (NASDAQ: CLAR) has approved requests from its major shareholders, Brown Advisory and Greenhouse Funds, to increase their ownership stakes to 12.5% of the company’s outstanding shares. Brown currently holds about 8.5% (3,179,132 shares) and Greenhouse holds about 7.4% (2,772,000 shares). This approval is conditional on both parties not exceeding the 12.5% limit and maintaining eligibility to report on Schedule 13G. The company also confirmed that this increased investment will not hinder the utilization of approximately $60.7 million in Net Operating Loss carryforwards.

Clarus Corporation (NASDAQ: CLAR) reported a remarkable 57% increase in second-quarter sales, reaching $114.9 million compared to the prior year. Adjusted EBITDA rose 51% to a record $17.6 million, with an adjusted EBITDA margin of 15.3%. Net income soared 105% to $3.8 million or $0.09 per diluted share. The company has approved a new $50 million stock repurchase program while expecting a 25% increase in annual sales to $470 million. Challenges in supply chain logistics impacted delivery capabilities, yet strong demand persists across segments.

Clarus Corporation (NASDAQ: CLAR) has declared a regular quarterly cash dividend of $0.025 per share, to be paid on August 19, 2022, to stockholders recorded as of August 8, 2022. This dividend reflects the company’s commitment to returning value to its shareholders while maintaining its focus on the outdoor and consumer enthusiast markets. Clarus operates under renowned brands including Black Diamond and Rhino-Rack, aiming for sustainable long-term growth in the outdoor equipment sector.

Clarus Corporation (NASDAQ: CLAR) will hold a conference call on August 1, 2022, at 5:00 p.m. Eastern time to discuss its financial results for Q2 2022, ending June 30. The press release with results will be available after market hours on the same day. Investors can register in advance and participate via the provided registration link. Clarus designs and distributes outdoor gear and lifestyle products under brands like Black Diamond and Rhino-Rack, focusing on growth through innovation and strategic acquisitions.

Clarus Corporation (NASDAQ: CLAR) will participate in several upcoming investor conferences to engage with shareholders and potential investors. The company will attend the William Blair 42nd Annual Growth Stock Conference on June 8, 2022, followed by the Stifel Cross Sector Insight Conference on June 9, 2022, and the Jefferies Consumer Conference on June 21-22, 2022. These conferences aim to showcase Clarus’s strategy in the outdoor and consumer enthusiast markets, as well as its portfolio of established brands.

Clarus Corporation (NASDAQ: CLAR) reported first-quarter 2022 sales of $113.3 million, a 50% year-over-year increase, with adjusted EBITDA reaching a record $19.7 million, reflecting a 17.4% margin. Net income was $5.3 million, or $0.13 per diluted share, slightly down from $5.7 million in the prior year. The Precision Sport segment saw a 41% sales increase, while logistics challenges limited Outdoor segment revenue. Clarus forecasts a 25% sales growth for the year, projecting total sales of $470 million, with expected adjusted EBITDA of approximately $78 million.

Clarus Corporation (NASDAQ: CLAR) announced a quarterly cash dividend of $0.025 per share, payable on May 20, 2022, to stockholders of record as of May 9, 2022. This reflects the company's commitment to returning value to shareholders while emphasizing its focus on the outdoor and consumer enthusiast markets.

Clarus designs and distributes top-tier outdoor equipment and lifestyle products under well-known brands such as Black Diamond, Rhino-Rack, and MAXTRAX.

Clarus Corporation (NASDAQ: CLAR) will hold a conference call on May 9, 2022, at 5:00 p.m. Eastern time to discuss its Q1 financial results for the period ending March 31, 2022. The financial results will be announced in a press release prior to the call. Interested parties can join the conference using the toll-free number 1-877-511-3707 or listen online. A replay will be available after 8:00 p.m. Eastern on the same day, until May 23, 2022. Clarus specializes in outdoor equipment and lifestyle products, aiming for sustainable growth in the outdoor market.