Compass Diversified Brands Suffer from Inventory Headwinds
Net income from continuing operations in CODI’s branded consumer companies related to sports, outdoor and apparel—5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor—declined by 68% to $6.9 million from $21.4 million for the period ended June 30. Total revenues from the five companies fell by 9% to $261.4 million from $288.0 million. While its overall Q2 results exceeded expectations and some “green shoots” were seen at PrimaLoft in the form of increased bookings, CODI opted to maintain its FY23 outlook that calls for $430 to $460 million in adjusted EBITDA ... Log in to view full article.