CODI’s bottom line swung back to a profit of $26,376,000 in Q2 from a loss of $11,251,000 on total sales that grew 19% to $515,597,000 from $431,525,000. Gross margin improved 90 b.p. to 41.1%, and SG&A was up 17%, leveraging 50 b.p. to 24.4% of sales from 24.9%. Looking at the balance of the year, the portfolio company raised its guidance based on Q2 performance in the face of macro headwinds. Including the newly acquired PrimaLoft, adjusted EBITDA is now expected between $445 million and $470 million.
As for CODI’s sports brands, ... Log in to view full article.