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Jun 30, 2022
Compass Diversified Q2 2022 Earnings Report
Reported record financial performance driven by net sales growth of 19% and raised full-year outlook due to strong performance and PrimaLoft acquisition.
Key Takeaways
Compass Diversified reported a strong second quarter with a 19% increase in net sales to $515.6 million and a significant rise in net income to $31.0 million. The company raised its full-year outlook based on continued strong performance and the acquisition of PrimaLoft.
Net sales increased by 19% to $515.6 million, or 13% on a pro forma basis.
Branded consumer net sales rose by 21% to $326.5 million, or 12% on a pro forma basis.
Niche industrial net sales grew by 16% to $189.1 million.
Net income increased significantly to $31.0 million compared to a net loss of $11.3 million in the same quarter last year.
Forward Guidance
CODI expects its current subsidiaries, including PrimaLoft, to produce consolidated subsidiary Adjusted EBITDA for the full year 2022 of between $445 million and $470 million. The Company expects to earn between $130 million and $145 million in Adjusted Earnings for the full year 2022, including PrimaLoft, and including Advanced Circuits as a result of the expectation of reclassifying Advanced Circuits to continuing operations during the third quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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