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 (NYSE: CODI) generates a steady flow of news as an owner of middle-market branded consumer and industrial businesses. This CODI news page aggregates company-issued press releases and related coverage, including quarterly earnings announcements, updates on credit facilities, preferred share distributions, restatement milestones and developments involving its subsidiaries. Because CODI operates as a holding company with multiple operating businesses, its news often spans financial performance, capital structure actions and portfolio-level events.
Recent disclosures highlight CODI’s efforts to bring its financial reporting fully current, including the filing of restated financial statements for prior years and subsequent Quarterly Reports on Form 10-Q. Earnings releases provide consolidated operating results, reconciliations of GAAP to non-GAAP measures such as Adjusted EBITDA and Adjusted Earnings (Loss), and commentary on the performance of its operating subsidiaries, excluding Lugano. Investors can also follow updates on CODI’s outlook for subsidiary Adjusted EBITDA and explanations of how non-GAAP metrics are used to evaluate the portfolio.
Another key news theme is CODI’s capital structure and liquidity management. Press releases and Form 8-K filings describe amendments to its Third Amended and Restated Credit Agreement, waivers of certain events of default, restoration of revolving credit capacity and related forbearance arrangements with senior lenders. Announcements also cover quarterly cash distributions on CODI’s Series A, Series B and Series C preferred shares, including record dates and payment dates.
News items additionally address the investigation into financial irregularities at Lugano Holding, Inc., the resulting restatement of CODI’s financial statements, and Lugano’s Chapter 11 filing. CODI’s communications emphasize that the Lugano issues are isolated to that subsidiary and outline steps being taken with lenders and other stakeholders. For investors tracking CODI stock and its preferred shares, this page offers a centralized view of earnings results, governance and listing updates, credit facility amendments, restatement progress and other material events disclosed through press releases and SEC filings.
Compass Diversified (NYSE: CODI) plans to release its first-quarter financial results for 2021 on April 29, after market close. A conference call with executives, including CEO Elias J. Sabo and CFO Ryan J. Faulkingham, will follow at 5:00 p.m. ET. Participants can join via phone or a live webcast on the company's Investor Relations page. The call will also be available for replay until June 5. CODI is focused on long-term value creation through its diversified middle-market business model, leveraging its controlling interests in subsidiaries to enhance cash flow generation.
Compass Diversified (NYSE: CODI) declared a quarterly cash distribution of $0.36 per share on its common shares, payable on April 22, 2021. Additionally, distributions for its preferred shares are set at $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on April 30, 2021. The distributions reflect CODI's strategy of leveraging its permanent capital base to maximize cash flow generation and value creation across its diversified portfolio of middle-market businesses.
Compass Diversified (CODI) announced successful refinancing efforts that include offering $1 billion of 5.250% senior unsecured notes due in 2029. The refinancing has reduced CODI's weighted average cost of debt and extended its maturity profile. Effective April 1, 2021, the company will redeem its existing 8.000% Senior Notes due 2026. Additionally, CODI has access to $569 million of its $600 million revolving credit facility for future acquisitions, positioning the company to leverage its capital structure for growth and increased liquidity.
Compass Diversified (NYSE: CODI) announced the pricing of $1 billion in 5.250% senior unsecured notes due 2029, set to close on March 23, 2021. The notes will be senior unsecured obligations, not guaranteed by subsidiaries. Proceeds will be used to repay existing debt and redeem 8.000% Senior Notes due 2026. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The notes will not be registered under the Securities Act, limiting their sales without registration.
Compass Diversified (NYSE: CODI) announced plans to offer $750 million in senior unsecured notes due 2029. The proceeds will be used to refinance existing debt and redeem 8.000% Senior Notes due 2026. This offering is not contingent on other transactions and is limited to qualified institutional buyers under Rule 144A and non-U.S. Persons under Regulation S. The notes will not be registered under the Securities Act and are described as the company's senior unsecured obligations. The press release includes forward-looking statements regarding CODI's future performance.
Compass Diversified (CODI) reported robust financial performance for Q4 2020, achieving net sales of $474.8 million and net income of $8.8 million. For the full year, net sales reached $1.561 billion, with net income reported at $27.2 million. The company demonstrated strong cash flow with Adjusted EBITDA of $79.8 million for Q4 and $249.2 million for the year. CODI's strategic acquisitions of Marucci and BOA contributed to this growth, while a distribution of $0.36 per common share was declared for Q4. Guidance for 2021 predicts Adjusted EBITDA between $305 million and $325 million.
Compass Diversified Holdings (CODI) announced that shareholders can access their individual tax reporting information by February 22, 2021. The company will mail Investor Tax Reporting packages starting February 23, summarizing reportable tax items for the year ended December 31, 2020. CODI is not subject to federal or state income tax, allowing its annual income to flow directly to shareholders. Shareholders are advised to verify their tax statements and consult a tax advisor for guidance.
Compass Diversified (CODI) plans to release its Q4 2020 financial results on February 24, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results, featuring the CEO and CFO. Investors can join the call by dialing (833) 900-1532 domestically or (236) 712-2273 internationally, with passcode 1291438. A replay will be available until March 3, 2021. CODI focuses on middle market businesses and aims to leverage its investments for long-term growth, maintaining controlling ownership in its subsidiaries.
Foam Fabricators, a leader in custom protective packaging, has rebranded as Altor Solutions. This change reflects its expansion beyond molded foam into a full-service provider of Packaging, Insulation and Componentry (PIC). Supported by Compass Diversified (NYSE: CODI), the company aims to enhance its product offerings and geographic reach. The rebranding aligns with a growing demand for protective packaging solutions and positions Altor as a partner in solving complex customer challenges. Founded in 1957, Altor operates 17 facilities across North America.
Compass Diversified (NYSE: CODI) has declared a quarterly cash distribution of $0.36 per share on its Common Shares, payable on January 22, 2021. Additionally, quarterly distributions for its Series A, B, and C Preferred Shares were announced at $0.453125, $0.4921875, and $0.4921875 per share, respectively, all payable on January 30, 2021. The distributions reflect the Company’s continued commitment to shareholder returns and its focus on growth strategies, emphasizing its capital allocation approach and diverse subsidiary portfolio.
FAQ
What is the current stock price of Compass Diversified (CODI)?
What is the market cap of Compass Diversified (CODI)?
