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Sep 30, 2021
Clarus Q3 2021 Earnings Report
Clarus reported record sales and Adjusted EBITDA with significant gross margin expansion.
Key Takeaways
Clarus Corporation reported a record third quarter with sales increasing by 69% year-over-year to $109.0 million. Adjusted EBITDA also reached a record $19.2 million. The company has revised its full year outlook, expecting sales of $362.5 million and adjusted EBITDA of $57 million.
Sales in Q3 2021 increased 69% year-over-year to a record $109.0 million.
Gross margin improved to 36.0%, with adjusted gross margin reaching 38.8%.
Adjusted EBITDA in Q3 2021 increased to a record $19.2 million.
The company upwardly revised its financial outlook, expecting 2021 sales and Adjusted EBITDA to grow approximately 62% and 155% year-over-year, respectively.
Clarus
Clarus
Forward Guidance
Clarus anticipates fiscal year 2021 sales to grow approximately 62% to $362.5 million and expects adjusted EBITDA in 2021 to increase approximately 155% to $57 million.
Positive Outlook
- Sales for Black Diamond are expected to increase 27% to $217.5 million.
- Sales for Sierra and Barnes combined are expected to increase 99% to $105 million.
- Sales for Rhino-Rack are expected to be $40 million for the second half of 2021.
- Rhino-Rack is expected to contribute approximately $6 million in adjusted EBITDA for the second half of 2021.
- Capital expenditures are expected to be approximately $8.5 million in 2021.