Compass Diversified Stock Price, News & Analysis

Compass Diversified (NYSE: CODI) announced plans to release its first-quarter financial results for the period ending March 31, 2023, on May 3, 2023, after market close. A conference call to discuss these results is scheduled for the same day at 5:00 p.m. ET. Participants can join the call by dialing (888) 886-7786 domestically or (416) 764-8658 internationally, using Conference ID 91629076. For those unable to attend, a replay will be available until May 10, 2023. CODI, founded in 1998, focuses on owning and managing middle-market businesses across various sectors, leveraging its permanent capital base and long-term strategies to enhance value and cash flow generation for its subsidiaries.

BATON ROUGE, La., April 04, 2023 (GLOBE NEWSWIRE) – Marucci Sports, a subsidiary of Compass Diversified (CODI), has acquired Baum Enterprises, a manufacturer of composite wood bats. Though transaction terms remain undisclosed, the acquisition aims to enhance Marucci's standing in diamond sports and broaden its product range. Baum Bat, established in 1993, is recognized for its durable and high-performance composite wood bats, now the first approved for various levels of competitive baseball. Leadership continuity is assured with Baum Bat’s team remaining intact under Marucci. CODI's CEO highlighted the partnership's potential to deliver a wider range of products, driving long-term value for stakeholders.

Compass Diversified (CODI) has announced a quarterly cash distribution of $0.25 per share for its common shares, payable on April 27, 2023, to record holders by April 20, 2023. Additionally, the Board declared distributions for its preferred shares: $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on April 30, 2023. CODI's cash distributions are expected to generally qualify as "qualified dividends" for U.S. tax purposes. The company continues to manage a diverse portfolio of middle-market businesses, facilitating long-term growth and cash flow generation.

Compass Diversified Holdings (NYSE: CODI) announced the nomination of Ms. Nancy B. Mahon for election to its Board of Directors at the 2023 Annual Meeting scheduled for May 25, 2023. Mahon, a seasoned executive with over 17 years at Estée Lauder, is expected to contribute her expertise in ESG and governance if elected. Current director Sarah G. McCoy will not seek re-election, while Teri R. Shaffer will take over as Chair of the Audit Committee on April 1, 2023. This leadership change aims to enhance CODI's strategic direction and governance.

Compass Diversified (NYSE: CODI) reported strong financial results for the fourth quarter and full year 2022, with net sales increasing 6% to $594.9 million in Q4 and 17% to $2.3 billion for the full year. However, the company faced a net loss of $11.8 million in Q4, contrasted with a net income of $25.9 million in the previous year, attributed to a $20.6 million impairment related to the Ergobaby subsidiary. Adjusted EBITDA rose 5% to $87.3 million in Q4, while full-year Adjusted EBITDA increased 20% to $369.8 million. Looking ahead, CODI expects 2023 Adjusted EBITDA between $420 million and $460 million, and Adjusted Earnings of $105 million to $135 million.

Compass Diversified (NYSE: CODI) announced plans to release its financial results for the fourth quarter ended December 31, 2022, on March 1, 2023, after market close. The Company will hold a conference call to discuss these results at 5:00 p.m. ET on the same day. Interested participants can join the call by dialing (888) 396-8049 domestically or (416) 764-8646 internationally, with a Conference ID of 74552633. Those unable to attend can access a replay until March 8, 2023, and the webcast will be available on its Investor Relations website for 30 days.

CODI specializes in owning and managing a portfolio of middle-market businesses across various sectors, leveraging a permanent capital base for growth and stability.

Compass Diversified (NYSE: CODI) has completed the sale of its majority-owned subsidiary, Advanced Circuits, Inc., to APCT, Inc. for an enterprise value of $220 million. After adjustments, CODI received approximately $170 million in proceeds from the transaction. The sale is expected to generate a pre-tax gain of $100 million to $110 million for CODI. The net proceeds will be utilized to pay off outstanding revolving credit borrowings.

CEO Elias Sabo expressed pride in the partnership over the past sixteen years, emphasizing the value generated for shareholders. The deal was advised by Jefferies LLC and legal counsel provided by Ropes & Gray LLP.