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Mar 31, 2021
Clarus Q1 2021 Earnings Report
Clarus reported record first quarter results and raised full-year outlook.
Key Takeaways
Clarus Corporation reported a 41% increase in sales to $75.3 million for the first quarter of 2021. The company also raised its full-year outlook, expecting sales and adjusted EBITDA to grow approximately 32% and 70% year-over-year, respectively.
First quarter sales increased 41% year-over-year to $75.3 million.
Gross margin improved 130 basis points to 35.9%.
Net income improved substantially to $5.7 million, or $0.17 per diluted share.
Adjusted EBITDA increased 191% to $10.6 million.
Forward Guidance
Clarus anticipates fiscal year 2021 sales to grow approximately 32% to $295 million and expects adjusted EBITDA in 2021 to increase approximately 70% to $38 million.
Positive Outlook
- Sales for Black Diamond to increase 20% to $205 million compared to 2020.
- Sierra and Barnes combined to increase 71% to $90 million compared to 2020.
- Capital expenditures of approximately $7.5 million.
- Free cash flow of approximately $15 million.
- Expects to continue leveraging the high demand for diversified portfolio of brands.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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