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Dec 31, 2024
Compass Diversified Q4 2024 Earnings Report
Compass Diversified reported strong financial results for the fourth quarter of 2024, with double-digit sales growth and significant increases in Adjusted EBITDA.
Key Takeaways
Compass Diversified delivered strong financial results in Q4 2024, with net sales increasing by 13.8% to $620.3 million and Adjusted EBITDA growing by 29.0% to $118.2 million. This growth was primarily driven by strong performance in branded consumer businesses and improving industrial businesses.
Net sales increased by 13.8% to $620.3 million in Q4 2024 compared to Q4 2023.
Branded consumer net sales rose by 15.2% to $403.0 million, while industrial net sales increased by 11.4% to $217.2 million.
Subsidiary Adjusted EBITDA was $140.9 million, up 25% from Q4 2023, with branded consumer Adjusted EBITDA up 29.0% and industrial Adjusted EBITDA up 5.2%.
Adjusted EBITDA, a non-GAAP financial measure, increased by 29.0% to $118.2 million.
Forward Guidance
For the full year 2025, CODI expects its current subsidiaries to produce consolidated Subsidiary Adjusted EBITDA between $570 million and $610 million, with branded consumer vertical contributing $440 million to $465 million and industrial vertical contributing $130 million to $145 million. Overall Adjusted EBITDA, including management fees and corporate expenses, is expected to be between $480 million and $520 million, and Adjusted Earnings between $170 million and $190 million.
Positive Outlook
- Expected consolidated Subsidiary Adjusted EBITDA between $570 million and $610 million for FY 2025.
- Branded consumer vertical expected to contribute $440 million to $465 million to Subsidiary Adjusted EBITDA.
- Industrial vertical expected to contribute $130 million to $145 million to Subsidiary Adjusted EBITDA.
- Overall Adjusted EBITDA, including management fees and corporate expenses, expected to be between $480 million and $520 million for FY 2025.
- Adjusted Earnings expected to be between $170 million and $190 million for FY 2025.
Challenges Ahead
- Estimates are based on current subsidiaries and do not include additional acquisitions or divestitures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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