Clarus Q2 2021 Earnings Report
Key Takeaways
Clarus Corporation reported a record second quarter with sales increasing by 144% year-over-year to $73.3 million. The company also raised its full-year outlook, expecting sales and adjusted EBITDA to grow approximately 56% and 132% year-over-year, respectively.
Sales in the second quarter increased 144% year-over-year to a record $73.3 million.
Gross margin in the second quarter improved to 38.2% compared to 35.4% in the year-ago quarter.
Adjusted EBITDA in the second quarter increased to a record $11.7 million compared to $(1.3) million in the same year-ago quarter.
Clarus acquired Rhino-Rack for $AUD 194 million (approximately $USD 145 million) in cash and approximately 2.3 million shares of Clarus common stock.
Clarus
Clarus
Forward Guidance
Clarus anticipates fiscal year 2021 sales to grow approximately 56% to $350 million and expects adjusted EBITDA in 2021 to increase approximately 132% to $52 million.
Positive Outlook
- Sales for Black Diamond to increase 26% to $215 million compared to 2020.
- Sierra and Barnes combined to increase 80% to $95 million compared to 2020.
- Sales for Rhino-Rack to be $40 million for the second half of 2021.
- Adjusted EBITDA in 2021 to increase approximately 132% to $52 million compared to 2020.
- Rhino-Rack to contribute approximately $6 million in adjusted EBITDA for the second half of 2021.