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Article Date: November 2023
Word Count: 312

Compass Diversified Red Ink Deepens on Impairment

Net loss attributable to shareholders expanded to $10,154,000 from as loss of $1,774,000 in the prior year, dinged by a $32.6 million non-cash impairment related to Velocity Outdoor, on sales that were down 1% to $569,565,000 from $575,819,000. Excluding the impairment, adjusted EBITDA was up 13% to $103,902,000 from $91,872,000. Ahead of Q3 earnings, the company announced it will sell Marucci Sports to Fox Factory at an enterprise value of $572 million. CODI expects to see a pre-tax gain between $225 to $245 million, with proceeds going to debt paydown and ... Log in to view full article.


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