Reports Growth of Consolidated Revenues, Net
Income and Adjusted EBITDA; Provides Shareholders with Stable and
Sizable Distributions
Compass Diversified Holdings (NYSE: CODI) (“CODI,” “we,” “our” or
the “Company”), an owner of leading middle market businesses,
announced today its consolidated operating results for the three
months ended March 31, 2019.
First Quarter 2019
Highlights
- Reported net sales of $402.5 million;
- Reported net income of $110.2 million;
- Reported non- GAAP Adjusted EBITDA of $56.7 million;
- Reported Cash Used in Operating Activities of $8.9 million, and
Generated Cash Flow Available for Distribution and Reinvestment
(“CAD”) of $17.6 million for the first quarter of 2019;
- Completed the sale of our Manitoba Harvest subsidiary for a
$121.7 million gain;
- Paid a first quarter 2019 cash distribution of $0.36 per share
on CODI’s common shares in April 2019, bringing cumulative
distributions paid to $17.8752 per common share since CODI’s IPO in
May of 2006;
- Paid a quarterly cash distribution of $0.453125 per share on
the Company’s 7.250% Series A Preferred Shares and $0.4921875 per
share on the Company's 7.875% Series B Preferred Shares in April
2019;
- Subsequent to the end of the quarter, promoted Pat Maciariello
to newly created position of Chief Operating Officer.
“Our operating results in the first quarter
exceeded our expectations, as we reported solid consolidated
revenues, net income and adjusted EBITDA growth across our group of
leading, niche middle market businesses,” said Elias Sabo, CEO of
Compass Diversified Holdings. “During the first quarter, we also
realized tangible benefits from previous investments in the
management, sales and marketing functions at several of our branded
consumer businesses, highlighted by the sale of Manitoba Harvest at
a highly attractive valuation and 5.11 Tactical’s improving EBITDA
margins.”
Mr. Sabo continued, “Our success monetizing
Manitoba Harvest resulted in CODI realizing a sizeable gain in just
over three years of ownership, increasing total realized gains to
over $870 million for shareholders since our IPO. Complementing our
focus on building long-term and sustainable value in CODI and its
leading subsidiaries, we are pleased to have promoted long-time
partner at Compass Group Management Pat Maciariello to the newly
created position of Chief Operating Officer. Going forward, our
focus remains on continuing to work with our world-class management
teams to best capitalize on growth opportunities, implementing our
proven and disciplined acquisition strategy, opportunistically
divesting businesses and providing sizable distributions.”
Operating Results
Net sales for the quarter ended March 31, 2019
was $402.5 million, as compared to $344.4 million for the quarter
ended March 31, 2018. The March 31, 2018 net sales do not
include Rimports, Foam Fabricators and Ravin net sales prior to
CODI’s ownership.
Net income for the quarter ended March 31, 2019
was $110.2 million, as compared to net loss of $1.6 million for the
quarter ended March 31, 2018. Current quarter net income includes
the $121.7 million gain on the sale of Manitoba Harvest, offset by
a loss on the sale of the Tilray shares received at closing of $5.3
million.
Adjusted EBITDA (see Note Regarding Use of
Non-GAAP Financial Measures below) for the quarter ended March 31,
2019 was $56.7 million, as compared to $42.9 million for the
quarter ended March 31, 2018. March 31, 2018 Adjusted EBITDA does
not include Rimports, Foam Fabricators and Ravin results prior to
CODI’s ownership.
CODI reported CAD (see Note Regarding Use of
Non-GAAP Financial Measures below) of $17.6 million for the quarter
ended March 31, 2019, as compared to $14.0 million for the prior
year’s comparable quarter. CODI’s CAD is calculated after taking
into account all interest expense, cash taxes paid and maintenance
capital expenditures, and includes the operating results of each of
our businesses for the periods during which CODI owned them.
However, CAD excludes the gains from monetizing interests in CODI’s
subsidiaries, which have totaled over $870 million since going
public in 2006. The increase in CAD over the prior year
quarter is primarily the result of the operating performance of our
2018 acquisitions of Foam Fabricators, Rimports and Ravin, offset
by the additional interest cost on our $400 million Senior Notes
issued in April 2018.
Liquidity and Capital
Resources
For the quarter ended March 31, 2019, CODI
reported Cash Used in Operating Activities of $8.9 million, as
compared to Cash Provided by Operating Activities of $6.6 million
for the quarter ended March 31, 2018.
CODI’s weighted average number of shares
outstanding for the quarters ended March 31, 2019 and March 31,
2018 were 59.9 million.
As of March 31, 2019, CODI had approximately
$39.8 million in cash and cash equivalents, $495 million
outstanding on its term loan facility, $400 million outstanding in
Senior Notes and $85 million in outstanding borrowings under its
revolving credit facility.
The Company has no significant debt maturities
until 2023 and had net borrowing availability of approximately $515
million at March 31, 2019 under its revolving credit facility.
First Quarter 2019
Distributions
On April 4, 2019, CODI’s Board of Directors (the
“Board”) declared a first quarter distribution of $0.36 per share
on the Company’s common shares (the “Common Shares”). The cash
distribution was paid on April 25, 2019 to all holders of record of
Common Shares as of April 18, 2019. Since its IPO in May of 2006,
CODI has paid a cumulative distribution of $17.8752 per common
share.
The Board also declared a quarterly cash
distribution of $0.453125 per share on the Company’s 7.250% Series
A Preferred Shares (the “Preferred Shares”). The distribution on
the Preferred Shares covered the period from and including January
30, 2019, up to, but excluding, April 30, 2019. The distribution
for such period was paid on April 30, 2019 to all holders of record
of Preferred Shares as of April 15, 2019.
The Board also declared a quarterly cash
distribution of $0.4921875 per share on the Company's 7.875% Series
B Preferred Shares (the "Series B Preferred Shares"). The
distribution on the Series B Preferred Shares covered the period
from and including January 30, 2019, up to, but excluding, April
30, 2019. The distribution for such period was paid on April 30,
2019 to all holders of record of Series B Preferred Shares as of
April 15, 2019.
Conference Call
Management will host a conference call on
Thursday, May 2, 2019 at 9:00 a.m. ET to discuss the latest
corporate developments and financial results. The dial-in number
for callers in the U.S. is (855) 212-2368 and the dial-in number
for international callers is (315) 625-6886. The access code for
all callers is 4684535. A live webcast will also be available on
the Company's website at www.compassdiversifiedholdings.com.
A replay of the call will be available through
May 9, 2019. To access the replay, please dial (855) 859-2056 in
the U.S. and (404) 537-3406 outside the U.S., and then enter the
access code 4684535.
Note Regarding Use of Non-GAAP Financial
Measures
Adjusted EBITDA is a non-GAAP measure used by
the Company to assess its performance. We have reconciled
Adjusted EBITDA to Net Income (Loss) on the attached schedules. We
consider Net Income (Loss) to be the most directly comparable GAAP
financial measure to Adjusted EBITDA. We believe that Adjusted
EBITDA provides useful information to investors and reflects
important financial measures as it excludes the effects of items
which reflect the impact of long-term investment decisions, rather
than the performance of near term operations. When compared to Net
Income (Loss), Adjusted EBITDA is limited in that it does not
reflect the periodic costs of certain capital assets used in
generating revenues of our businesses or the non-cash charges
associated with impairments, as well as certain cash charges. This
presentation also allows investors to view the performance of our
businesses in a manner similar to the methods used by us and the
management of our businesses, provides additional insight into our
operating results and provides a measure for evaluating targeted
businesses for acquisition. We believe Adjusted EBITDA is also
useful in measuring our ability to service debt and other payment
obligations.
CAD is a non-GAAP measure used by the Company to
assess its performance, as well as its ability to sustain quarterly
distributions. We have reconciled CAD to Net Income (Loss)
and Cash Flow from Operating Activities on the attached schedules.
We consider Net Income (Loss) and Cash Flow from Operating
Activities to be the most directly comparable GAAP financial
measures to CAD.
CAD is calculated after taking into account all
interest expense, cash taxes paid and maintenance capital
expenditures, and includes the operating results of each of our
businesses for the periods during which CODI owned them. We
believe that CAD provides investors additional information to
enable them to evaluate our performance and ability to make
anticipated quarterly distributions.
Neither of Adjusted EBITDA nor CAD is meant to
be a substitute for GAAP measures and may be different from or
otherwise inconsistent with non-GAAP financial measures used by
other companies.
About Compass Diversified Holdings
(“CODI”)
CODI owns and manages a diverse family of
established North American middle market businesses. Each of its
current subsidiaries is a leader in its niche market.
CODI maintains controlling ownership interests
in each of its subsidiaries in order to maximize its ability to
impact long term cash flow generation and value. The Company
provides both debt and equity capital for its subsidiaries,
contributing to their financial and operating flexibility. CODI
utilizes the cash flows generated by its subsidiaries to invest in
the long-term growth of the Company and to make cash distributions
to its shareholders.
Our nine majority-owned subsidiaries are engaged
in the following lines of business:
- The design and marketing of purpose-built tactical apparel and
gear serving a wide range of global customers
(5.11);
- The manufacture of quick-turn, small-run and production rigid
printed circuit boards (Advanced Circuits);
- The manufacture of engineered magnetic solutions for a wide
range of specialty applications and end-markets (Arnold
Magnetic Technologies);
- Environmental services for a variety of contaminated materials
including soils, dredged material, hazardous waste and drill
cuttings (Clean Earth);
- The design and marketing of wearable baby carriers, strollers
and related products (Ergobaby);
- The design and manufacture of custom molded protective foam
solutions and OE components (Foam
Fabricators);
- The design and manufacture of premium home and gun safes
(Liberty Safe);
- The manufacture and marketing of portable food warming fuels
for the hospitality and consumer markets, flameless candles and
house and garden lighting for the home decor market, and wickless
candle products used for home decor and fragrance systems
(The Sterno Group); and
- The design, manufacture and marketing of airguns, archery
products, optics and related accessories (Velocity
Outdoor).
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of CODI. Words such as "believes," "expects,"
"projects," and "future" or similar expressions, are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these
forward-looking statements, and some of these factors are
enumerated in the risk factor discussion in the Form 10-K filed by
CODI with the SEC for the year ended December 31, 2018 and other
filings with the SEC. Except as required by law, CODI undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
|
Compass Diversified Holdings |
Condensed Consolidated Statements of
Operations |
(unaudited) |
|
|
|
|
|
Three Months Ended March 31, |
(in thousands, except
per share data) |
2019 |
|
2018 |
Net sales |
$ |
402,489 |
|
|
$ |
344,352 |
|
Cost of sales |
266,300 |
|
|
225,186 |
|
Gross
profit |
136,189 |
|
|
119,166 |
|
Operating
expenses: |
|
|
|
Selling, general and administrative
expense |
93,199 |
|
|
91,300 |
|
Management fees |
11,082 |
|
|
10,762 |
|
Amortization expense |
17,040 |
|
|
11,537 |
|
Operating income |
14,868 |
|
|
5,567 |
|
Other income
(expense): |
|
|
|
Interest
expense, net |
(18,582 |
) |
|
(6,182 |
) |
Amortization of debt issuance costs |
(927 |
) |
|
(1,098 |
) |
Loss on
sale of Tilray shares |
(5,300 |
) |
|
— |
|
Other
expense, net |
(571 |
) |
|
(1,374 |
) |
Income (loss) from continuing
operations before income taxes |
(10,512 |
) |
|
(3,087 |
) |
Provision
(benefit) for income taxes |
403 |
|
|
(1,860 |
) |
Net loss
from continuing operations |
(10,915 |
) |
|
(1,227 |
) |
Loss from discontinued operations,
net of tax |
(586 |
) |
|
(394 |
) |
Gain on sale of discontinued
operations, net of tax |
121,659 |
|
|
— |
|
Net income (loss) |
110,158 |
|
|
(1,621 |
) |
Less: Income from continuing
operations attributable to noncontrolling interest |
1,300 |
|
|
359 |
|
Less: Income (loss) from
discontinued operations attributable to noncontrolling
interest |
(450 |
) |
|
361 |
|
Net income (loss) attributable to
Holdings |
$ |
109,308 |
|
|
$ |
(2,341 |
) |
|
|
|
|
Basic income (loss) per
common share attributable to Holdings |
|
|
|
Continuing operations |
$ |
(0.31 |
) |
|
$ |
(0.08 |
) |
Discontinued operations |
2.03 |
|
|
(0.01 |
) |
|
$ |
1.72 |
|
|
$ |
(0.09 |
) |
|
|
|
|
Basic weighted average number of common shares
outstanding |
59,900 |
|
|
59,900 |
|
|
|
|
|
Cash distributions declared per Trust common
share |
$ |
0.36 |
|
|
$ |
0.36 |
|
|
|
|
|
Compass Diversified Holdings |
Net Sales to Pro Forma Net Sales
Reconciliation |
(unaudited) |
|
|
|
|
|
Three months ended March 31, |
|
2019 |
|
2018 |
|
|
|
|
Net Sales |
$ |
402,489 |
|
$ |
344,352 |
Acquisitions (1) |
— |
|
39,828 |
Pro Forma Net
Sales |
$ |
402,489 |
|
$ |
384,180 |
|
|
|
|
(1) |
Net sales of Foam
Fabricators and Rimports (Sterno Group add-on) as if those
businesses were acquired January 1, 2018. |
Compass Diversified Holdings |
Subsidiary Pro Forma Net Sales |
(unaudited) |
|
|
|
|
|
Three months ended March 31, |
(in thousands) |
2019 |
|
2018 |
|
|
|
|
Branded
Consumer |
|
|
|
5.11 Tactical |
$ |
88,089 |
|
$ |
83,957 |
Ergobaby |
22,452 |
|
22,162 |
Liberty |
22,204 |
|
23,453 |
Velocity Outdoor
(2) |
31,137 |
|
24,408 |
Total
Branded Consumer |
$ |
163,882 |
|
$ |
153,980 |
|
|
|
|
Niche
Industrial |
|
|
|
Advanced Circuits |
$ |
23,069 |
|
$ |
22,063 |
Arnold Magnetics |
30,028 |
|
29,399 |
Clean Earth |
63,632 |
|
58,221 |
Foam Fabricators
(1) |
30,682 |
|
30,490 |
Sterno Group
(1) |
91,196 |
|
90,027 |
Total
Niche Industrial |
$ |
238,607 |
|
$ |
230,200 |
|
|
|
|
|
$ |
402,489 |
|
$ |
384,180 |
(1) |
Foam Fabricators and
Rimports (Sterno Group add-on) are proforma as if those businesses
were acquired January 1, 2018. |
(2) |
The
above 2018 results exclude management's estimate of net sales,
before our ownership, of $10.9 million at Ravin which was acquired
in August 2018. |
Compass Diversified Holdings |
Net Income to Adjusted EBITDA and Cash flow
Available for Distribution and Reinvestment |
(Unaudited) |
|
|
|
|
|
Three Months Ended March 31, |
(in thousands) |
2019 |
|
2018 |
Net income
(loss) |
$ |
110,158 |
|
|
$ |
(1,621 |
) |
Loss from
discontinued operations, net of income tax |
(586 |
) |
|
(394 |
) |
Gain on
sale of discontinued operations |
121,659 |
|
|
— |
|
Income (loss)
from continuing operations |
$ |
(10,915 |
) |
|
$ |
(1,227 |
) |
Provision
(benefit) for income taxes |
403 |
|
|
(1,860 |
) |
Income (loss)
from continuing operations before income taxes |
$ |
(10,513 |
) |
|
$ |
(3,087 |
) |
Other
income (expense), net |
(571 |
) |
|
(1,374 |
) |
Amortization of debt issuance costs |
(927 |
) |
|
(1,098 |
) |
Gain
(loss) on sale of securities |
(5,300 |
) |
|
— |
|
Interest
expense, net |
(18,582 |
) |
|
(6,182 |
) |
Operating
Income |
$ |
14,867 |
|
|
$ |
5,567 |
|
Adjusted
For: |
|
|
|
Depreciation |
10,581 |
|
|
9,104 |
|
Amortization |
17,040 |
|
|
12,208 |
|
Non-controlling shareholder compensation |
2,116 |
|
|
2,340 |
|
Acquisition expenses |
366 |
|
|
2,189 |
|
Integration services fees |
281 |
|
|
656 |
|
Management fees |
11,082 |
|
|
10,762 |
|
Other |
414 |
|
|
80 |
|
Adjusted
EBITDA |
$ |
56,747 |
|
|
$ |
42,906 |
|
Interest
at Corporate, net of unused fee (1) |
(16,944 |
) |
|
(8,395 |
) |
Swap
payment |
(94 |
) |
|
(706 |
) |
Management fees |
(11,082 |
) |
|
(10,762 |
) |
Capital
expenditures (maintenance) |
(4,997 |
) |
|
(5,886 |
) |
Current
tax expense (cash taxes) (2) |
(2,029 |
) |
|
(1,783 |
) |
Preferred
share distributions |
(3,781 |
) |
|
(1,813 |
) |
Discontinued operations |
(171 |
) |
|
695 |
|
Miscellaneous items |
— |
|
|
(238 |
) |
Cash Available
for Distribution or Reinvestment ('CAD') |
$ |
17,649 |
|
|
$ |
14,018 |
|
(1) |
Interest expense at Corporate reflects consolidated interest
expense less non-cash components such as, unrealized gains and
losses on our swap and original issue discount amortization.
We include the cash component of our swap payment above in our
reconciliation to CAD. |
(2) |
Current tax expense is calculated by deducting
the change in deferred tax from the statement of cash flows from
the income tax provision on the statement of operations |
Compass Diversified Holdings |
Adjusted EBITDA (1) |
(unaudited) |
|
|
|
|
|
Three months ended March 31, |
(in thousands) |
2019 |
|
2018 |
|
|
|
|
Branded
Consumer |
|
|
|
5.11 Tactical |
$ |
8,305 |
|
|
$ |
5,896 |
|
Ergobaby |
5,597 |
|
|
4,698 |
|
Liberty |
2,222 |
|
|
3,346 |
|
Velocity Outdoor
(2) |
3,987 |
|
|
3,147 |
|
Total Branded Consumer |
$ |
20,111 |
|
|
$ |
17,087 |
|
|
|
|
|
Niche
Industrial |
|
|
|
Advanced Circuits |
$ |
7,339 |
|
|
$ |
6,865 |
|
Arnold Magnetics |
3,210 |
|
|
3,398 |
|
Clean Earth |
8,260 |
|
|
6,733 |
|
Foam Fabricators
(2) |
7,226 |
|
|
3,503 |
|
Sterno Group
(2) |
13,900 |
|
|
8,908 |
|
Total Niche Industrial |
$ |
39,935 |
|
|
$ |
29,407 |
|
|
|
|
|
Corporate expense (3) |
(3,299 |
) |
|
(3,588 |
) |
Total Adjusted EBITDA |
$ |
56,747 |
|
|
$ |
42,906 |
|
(1) |
Please refer to our
recently filed 10-Q for detail on subsidiary pro forma adjusted
EBITDA, and reconciliation to Net Income. |
(2) |
The above 2018 results
exclude management's estimate of adjusted EBITDA, before our
ownership, of $5.5 million at Rimports, $2.8 million at Foam
Fabricators and $2.9 million at Ravin. |
(3) |
Please refer to the
recently filed 10-Q for a reconciliation of our Corporate expense
to Net Income. |
Compass Diversified Holdings |
Summarized Statement of Cash Flows |
(unaudited) |
|
|
|
|
|
Three Months Ended March 31, |
(in thousands) |
2019 |
|
2018 |
Net cash (used in)
provided by operating activities |
$ |
(8,936 |
) |
|
$ |
6,643 |
|
Net cash provided by (used in)
investing activities |
168,944 |
|
|
(415,628 |
) |
Net cash (used in) provided by
financing activities |
(172,448 |
) |
|
413,418 |
|
Effect of foreign currency on cash |
(1,049 |
) |
|
2,007 |
|
Net increase (decrease)
in cash and cash equivalents |
(13,489 |
) |
|
6,440 |
|
Cash and cash
equivalents — beginning of period |
53,326 |
|
|
39,885 |
|
Cash and cash
equivalents — end of period |
$ |
39,837 |
|
|
$ |
46,325 |
|
|
|
|
|
Compass Diversified Holdings |
Condensed Consolidated Table of Cash Flows Available
for Distribution and Reinvestment |
(unaudited) |
|
Three Months Ended March 31, |
(in thousands) |
2019 |
|
2018 |
Net income (loss) |
$ |
110,158 |
|
|
$ |
(1,621 |
) |
Adjustments to reconcile net income (loss) to net
cash provided by operating activities: |
|
|
|
Depreciation and amortization |
28,638 |
|
|
22,933 |
|
Gain on
sale of business |
(121,659 |
) |
|
— |
|
Amortization of debt issuance costs and original issue
discount |
1,079 |
|
|
1,353 |
|
Unrealized (gain) loss on derivatives |
1,099 |
|
|
(2,901 |
) |
Noncontrolling stockholder charges |
2,205 |
|
|
2,551 |
|
Provision
for loss on receivables |
696 |
|
|
328 |
|
Other |
334 |
|
|
(177 |
) |
Deferred
taxes |
(2,323 |
) |
|
(4,311 |
) |
Changes in operating assets and
liabilities |
(29,163 |
) |
|
(11,512 |
) |
Net cash (used in) provided by operating
activities |
(8,936 |
) |
|
6,643 |
|
Plus: |
|
|
|
Unused
fee on revolving credit facility |
387 |
|
|
452 |
|
Successful acquisition costs |
366 |
|
|
2,189 |
|
Integration services fee (1) |
281 |
|
|
656 |
|
Realized loss from foreign currency
effect (2) |
363 |
|
|
1,339 |
|
Changes in operating assets and
liabilities |
29,163 |
|
|
11,512 |
|
Loss on
sale of Tilray shares |
5,300 |
|
|
— |
|
Less: |
|
|
|
Maintenance capital expenditures (3) |
4,997 |
|
|
5,972 |
|
Payment
of interest rate swap |
94 |
|
|
706 |
|
Preferred
share distributions |
3,781 |
|
|
1,813 |
|
Other |
403 |
|
|
282 |
|
CAD |
$ |
17,649 |
|
|
$ |
14,018 |
|
|
|
|
|
Distribution paid in
April 2019/ 2018 |
$ |
21,564 |
|
|
$ |
21,564 |
|
(1) |
Represents fees paid by
newly acquired companies to the Manager for integration services
performed during the first year of ownership, payable
quarterly. |
(2) |
Reflects
the foreign currency transaction gain/ loss resulting from the
Canadian dollar intercompany loans issued to Manitoba Harvest. |
(3) |
Excludes
growth capital expenditures of approximately $2.5 million and $6.2
million for the three months ended March 31, 2019 and 2018,
respectively. |
Compass Diversified Holdings |
Maintenance Capital Expenditures |
(unaudited) |
|
|
|
Three months ended March 31, |
(in thousands) |
2019 |
|
2018 |
Niche
Industrial |
|
|
|
Advanced Circuits |
$ |
188 |
|
$ |
97 |
Arnold Magnetics |
1,112 |
|
1,252 |
Clean Earth |
1,350 |
|
1,257 |
Foam Fabricators |
498 |
|
398 |
Sterno Group |
452 |
|
384 |
Total
Niche Industrial |
$ |
3,600 |
|
$ |
3,388 |
|
|
|
|
Branded
Consumer |
|
|
|
5.11 Tactical |
$ |
212 |
|
$ |
1,362 |
Ergobaby |
71 |
|
288 |
Liberty |
126 |
|
61 |
Velocity Outdoor |
988 |
|
787 |
Total
Branded Consumer |
$ |
1,397 |
|
$ |
2,498 |
|
|
|
|
|
$ |
4,997 |
|
$ |
5,886 |
Compass Diversified Holdings |
Condensed Consolidated Balance Sheets |
|
|
|
|
|
March 31, 2019 |
|
December 31, 2018 |
(in thousands) |
(unaudited) |
|
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash
equivalents |
$ |
39,837 |
|
$ |
50,749 |
Accounts
receivable, net |
263,494 |
|
265,234 |
Inventories |
313,910 |
|
307,437 |
Prepaid
expenses and other current assets |
87,964 |
|
35,810 |
Current
assets of discontinued operations |
— |
|
21,955 |
Total
current assets |
705,205 |
|
681,185 |
Property, plant and
equipment, net |
203,549 |
|
208,661 |
Goodwill and intangible
assets, net |
1,345,230 |
|
1,361,014 |
Other non-current
assets |
115,642 |
|
12,008 |
Non-current assets of
discontinued operations |
— |
|
109,467 |
Total
assets |
$ |
2,369,626 |
|
$ |
2,372,335 |
|
|
|
|
Liabilities and
stockholders’ equity |
|
|
|
Current
liabilities |
|
|
|
Accounts
payable and accrued expenses |
$ |
207,165 |
|
$ |
226,424 |
Due to
related party |
10,609 |
|
11,093 |
Current
portion, long-term debt |
5,000 |
|
5,000 |
Other
current liabilities |
27,338 |
|
7,334 |
Current
liabilities of discontinued operations |
— |
|
9,429 |
Total
current liabilities |
250,112 |
|
259,280 |
Deferred income
taxes |
61,023 |
|
62,284 |
Long-term debt |
955,395 |
|
1,098,871 |
Other non-current
liabilities |
102,315 |
|
17,790 |
Non-current liabilities
of discontinued operations |
— |
|
14,768 |
Total
liabilities |
1,368,845 |
|
1,452,993 |
Stockholders'
equity |
|
|
|
Total stockholders'
equity attributable to Holdings |
948,594 |
|
859,372 |
Noncontrolling
interest |
52,187 |
|
48,810 |
Noncontrolling interest of discontinued operations |
— |
|
11,160 |
Total
stockholders' equity |
1,000,781 |
|
919,342 |
Total
liabilities and stockholders’ equity |
$ |
2,369,626 |
|
$ |
2,372,335 |
|
|
|
|
Compass Diversified HoldingsRyan J. FaulkinghamChief Financial
Officer203.221.1703ryan@compassequity.com |
Investor Relations and Media Contact:The IGB GroupLeon
Berman212.477.8438lberman@igbir.com |
Compass Diversified (NYSE:CODI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Compass Diversified (NYSE:CODI)
Historical Stock Chart
From Sep 2023 to Sep 2024