- Compass Diversified press release ( NYSE: CODI ): Q3 GAAP EPS of -$0.23 misses by $0.33 .
- Revenue of $597.61M (+22.4% Y/Y) beats by $48.56M .
- Branded consumer net sales up 34% to $378.2 million, and up 21% on a pro forma basis.
- Niche industrial net sales up 7% to $219.4 million.
- Operating income up 16% to $48.7 million.
- Adjusted Earnings, a non-GAAP financial measure, up 28% to $46.0 million.
- Adjusted EBITDA, a non-GAAP financial measure, up 27% to $98.3 million.
- Paid a third quarter 2022 cash distribution of $0.25 per share on CODI's common shares in October 2022.
- Increases 2022 Outlook: As a result of CODI’s strong financial performance in the third quarter, its expectations for the remainder of 2022 and its current view of the economy, the Company is raising its outlook. CODI expects its current subsidiaries to produce consolidated subsidiary Adjusted EBITDA for the full year 2022 of between $460 million and $470 million. This estimate is based on the summation of the Company’s expectations for its current subsidiaries in 2022, absent additional acquisitions or divestitures, includes a reduction for management fees paid at the subsidiaries of approximately $7.5 million and excludes corporate expenses such as interest expense, management fees paid at CODI and corporate overhead. In addition, the Company expects to earn between $145 million and $155 million in Adjusted Earnings for the full year 2022.
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Compass Diversified GAAP EPS of -$0.23 misses by $0.33, revenue of $597.61M beats by $48.56M