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Compass Group Diversified Holdings Llc (1345122) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Compass Group Diversified Holdings Llc

HISTORY TOOLS
CIK: 1345122


Exhibit 99.1
codilogof2a30.jpg

Compass Diversified Holdings
Ryan J. Faulkingham
Chief Financial Officer
203.221.1703
ryan@compassequity.com 
Investor Relations and Media Contact:
The IGB Group
Leon Berman
212.477.8438
lberman@igbir.com
Compass Diversified Holdings Reports Second Quarter 2019 Financial Results

Generates Consolidated Operating Performance In-Line with Management Expectations and Sizeable Distributions to Shareholders

Increases Total Realized Gains to Shareholders to Over $1 Billion from Opportunistic Divestitures
Westport, Conn., July 31, 2019
 - Compass Diversified Holdings (NYSE: CODI) (“CODI,” “we,” “our” or the “Company”), an owner of leading middle market businesses, announced today its consolidated operating results for the three months ended June 30, 2019.

Second Quarter 2019 Highlights
•
Reported net sales of $336.1 million;
•
Reported net income of $218.2 million;
•
Reported non-GAAP Adjusted EBITDA of $52.1 million;
•
Reported Cash Provided by Operating Activities of $17.6 million, and non-GAAP Generated Cash Flow Available for Distribution and Reinvestment (“CAD”) of $26.2 million for the second quarter of 2019;
•
Paid a second quarter 2019 cash distribution of $0.36 per share on CODI’s common shares in July 2019, bringing cumulative distributions paid to $18.2352 per common share since CODI’s IPO in May of 2006;
•
Paid a quarterly cash distribution of $0.453125 per share on the Company’s 7.250% Series A Preferred Shares and $0.4921875 per share on the Company's 7.875% Series B Preferred Shares in July 2019;
•
Promoted Pat Maciariello to newly created position of Chief Operating Officer;
•
Completed the sale of our Clean Earth subsidiary for a gain of $206.3 million;
•
Compass Group Management volunteered to waive the management fee on cash balances held at CODI, commencing with the management fee due for the quarter ending June 30, 2019 and continuing until the quarter during which the Company next borrows under its revolving credit facility.
“The first half of 2019 was important for CODI, as we unlocked significant value for shareholders with the opportunistic and attractive divestitures of two subsidiaries, enabling us to significantly strengthen our balance sheet, while Compass Group Management waived the management fee on cash balances held at CODI,” said Elias Sabo, CEO of Compass Diversified Holdings. “For the six-month 2019 period, our leading


The following information was filed by Compass Group Diversified Holdings Llc on Wednesday, July 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Compass Group Diversified Holdings Llc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Compass Group Diversified Holdings Llc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Stockholders' Equity
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Operations
- Narrative (Details)
Acquisition
Acquisition (Tables)
Acquisition - Additional Information (Detail)
Acquisition - Pro Forma Information (Details)
Acquisition - Schedule Of Assets Acquired And Liabilities Assumed As Of The Acquisition Date (Detail)
Acquisition - Schedule Of Intangible Assets Recorded As Part Of Acquisition (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Components Of Operating Leases (Details)
Commitments And Contingencies - Lease Term And Discount Rate (Details)
Commitments And Contingencies - Maturity Of Lease Liabilities (Details)
Commitments And Contingencies - Supplemental Cash Flow Information Related To Leases (Details)
Commitments And Contingencies Supplemental Balance Sheet Information (Details)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Issuance Costs (Details)
Debt - Summary Of Debt Holdings (Detail)
Defined Benefit Plan
Defined Benefit Plan (Tables)
Defined Benefit Plan - Additional Information (Detail)
Defined Benefit Plan - Summary Of Net Periodic Benefit Cost (Detail)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Discontinued Operations - Summarized Balance Sheet Information (Details)
Discontinued Operations - Summarized Operating Results (Details)
Discontinued Operations Discontinued Operations (Policies)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Additional Information (Detail)
Fair Value Measurement - Assets Measured On Nonrecurring Basis (Details)
Fair Value Measurement - Reconciliations Of Change In Carrying Value Of Level 3 Fair Value Measurements (Detail)
Fair Value Measurement - Summary Of Liabilities Carried At Fair Value Measured On Recurring Basis (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Detail)
Goodwill And Other Intangible Assets - Summary Of Estimated Charges To Amortization Expense Of Intangible Assets (Detail)
Goodwill And Other Intangible Assets - Summary Of Other Intangible Assets (Detail)
Goodwill And Other Intangible Assets - Summary Of Reconciliation Of Change In Carrying Value Of Goodwill (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Reconciliation Between Federal Statutory Rate And Effective Income Tax Rate (Detail)
Noncontrolling Interest
Noncontrolling Interest (Tables)
Noncontrolling Interest - Company's Ownership Percentage Of Its Majority Owned Operating Segments And Related Noncontrolling Interest (Detail)
Operating Segment Data
Operating Segment Data (Tables)
Operating Segment Data - Additional Information (Detail)
Operating Segment Data - Summary Of Depreciation, Goodwill And Identifiable Assets Of Operating Segments (Detail)
Operating Segment Data - Summary Of Net Sales Of Operating Segments (Detail)
Operating Segment Data - Summary Of Profit (Loss) Of Operating Segments (Detail)
Presentation And Principles Of Consolidation
Presentation And Principles Of Consolidation (Policies)
Presentation And Principles Of Consolidation - Narrative (Details)
Property, Plant And Equipment And Inventory
Property, Plant And Equipment And Inventory (Tables)
Property, Plant And Equipment And Inventory - Summary Of Inventory (Detail)
Property, Plant And Equipment And Inventory - Summary Of Property, Plant And Equipment (Detail)
Related Party Transactions
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Stockholders' Equity - Summary Of Basic And Diluted Earnings Per Share (Detail)
Warranties
Warranties (Tables)
Warranties - Change In Carrying Value Of Company's Warranty Liability (Detail)

Material Contracts, Statements, Certifications & more

Compass Group Diversified Holdings Llc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
CIK: 1345122
Form Type: 10-Q Quarterly Report
Accession Number: 0001345126-19-000054
Submitted to the SEC: Wed Oct 30 2019 12:03:14 PM EST
Accepted by the SEC: Wed Oct 30 2019
Period: Monday, September 30, 2019
Industry: Miscellaneous Products Of Petroleum And Coal

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