Clarus Corp Stock Price, News & Analysis

Clarus Corporation has appointed Greg Heichelbech as the General Manager of Rhino Rack USA, aiming to enhance growth in North America. With over 30 years of experience in the automotive aftermarket and powersports sectors, Heichelbech previously led the Accessory Group at Motorsports Aftermarket Group, increasing direct-to-consumer sales and product innovation.

Clarus President John Walbrecht emphasized the significant opportunities for Rhino Rack, supported by Heichelbech's expertise, to execute the company's 'Innovate and Accelerate' strategy.

Clarus Corporation has announced key leadership changes, promoting Aaron J. Kuehne to Executive Vice President and Chief Operating Officer and appointing Michael J. Yates as Chief Financial Officer. Kuehne, with over a decade at Clarus, will oversee operations and business optimization. Yates brings nearly 35 years of financial experience from IDEX Corporation. Executive Chairman Warren Kanders emphasized these appointments as vital for scaling the company’s brands and enhancing shareholder value.

Clarus Corporation (NASDAQ: CLAR) has acquired the headquarters and production facility of its Barnes® brand in Mona, Utah for $9.5 million. This strategic purchase aims to enhance production capacity to meet increasing customer demand, as stated by President John Walbrecht. The acquisition underscores Clarus's commitment to its 'super-fan' brands and its operational growth in the outdoor and consumer enthusiast markets.

Clarus Corporation has acquired Australia's MAXTRAX, a leader in overlanding and vehicle recovery products, for cash, stock, and future considerations. This strategic acquisition aims to enhance Clarus' Overlanding segment, which already includes Rhino-Rack, and is expected to be immediately accretive to earnings. MAXTRAX, founded in 2005, reported net sales of approximately AUD 21 million for the fiscal year ending June 30, 2021. The deal emphasizes Clarus' focus on expanding its portfolio of 'super fan' brands in the outdoor market.

Clarus Corporation (NASDAQ: CLAR) reported a significant 69% increase in third-quarter sales, reaching a record $109.0 million. Adjusted EBITDA grew by 155% to $57 million for the fiscal year 2021. The company completed a public offering, raising $85.4 million, intending to repay $65 million of debt. Despite increased sales, net cash provided by operating activities was negative at $(17.5) million due to inventory increases for supply chain challenges. The outlook for 2021 remains positive, expecting total sales of $362.5 million.

Clarus Corporation (NASDAQ: CLAR) has declared a regular quarterly cash dividend of $0.025 per share. The dividend will be distributed on November 19, 2021, to stockholders of record as of November 8, 2021. This decision reflects the company’s ongoing commitment to return value to its shareholders. Clarus is recognized as a leader in the outdoor and consumer enthusiast markets, boasting brands such as Black Diamond and Rhino-Rack, and continues to innovate in delivering high-quality products.

Clarus Corporation (NASDAQ: CLAR) announced a public offering of 2,750,000 shares of common stock, expected to generate $74.25 million before fees. Underwriters have a 30-day option to buy an additional 412,500 shares. The offering is anticipated to close on October 29, 2021, subject to customary conditions. The proceeds will be used for general corporate purposes, including debt repayment, capital expenditures, and potential acquisitions. The offering is made under an effective shelf registration and detailed documents are available through the SEC.

Clarus Corporation (NASDAQ: CLAR) announced plans to offer 2,750,000 shares of common stock, with an underwriter option for 412,500 additional shares. The net proceeds will be used for general corporate purposes, including debt repayment and potential acquisitions. BofA Securities leads the offering, which is registered under the Securities Act of 1933. Investors are advised to review the prospectus for detailed information. Forward-looking statements warn of risks that could impact the offering's success, including market conditions and consumer demand.

Clarus Corporation (NASDAQ: CLAR) will hold a conference call on November 8, 2021, at 5:00 p.m. Eastern time to discuss third-quarter financial results for the period ending September 30, 2021. The results will be released after market close on the same day. Interested parties can join the call using the toll-free number 1-877-511-3707 or the international line 1-786-815-8672, with Conference ID 3876067. A replay will be available post-call until November 22, 2021. Clarus is known for its outdoor equipment and lifestyle products, including brands like Black Diamond and Rhino-Rack.