Compass Diversified ( NYSE: CODI ) turned in a wider loss per share for the fourth quarter mostly due to a $20.6M impairment expense with respect to the private equity firm's Ergobaby subsidiary.
The company also issued its guidance for 2023, calling for adjusted EBITDA of $420M-$460M, and adjusted earnings of $105M-$135M.
“End market demand for the majority of our core consumer brands remained strong, and we believe our high-quality, premium brands can take market share even in a difficult macroeconomic backdrop,” said CEO Elias Sabo.
Q4 EPS of -$0.37 , may not be comparable with the $0.42 consensus, dipped from -$0.21 in Q3 and from -$0.08 in the year-ago quarter.
Revenue of $594.92M, falling short of the $599.01M consensus, slipped from $597.61M in Q3 and increased from $559.89M in Q4 2021.
Operating income was $19.58M, down from $48.75M in the prior quarter and from $39.60M in the three months ended Dec. 31, 2021.
Adjusted EBITDA came in at $87.29M compared with $98.33M in Q3.
Earlier, Compass Diversified EPS of -$0.37, revenue of $594.9M misses by $4.11M .
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Compass Diversified posts wider loss per share vs. Q3 on impairment cost