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Compass Group Diversified Holdings Llc (1345122) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Compass Group Diversified Holdings Llc

CIK: 1345122


Exhibit 99.1

codilogo2020a02.jpg

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Compass Diversified Reports Third Quarter 2020 Financial Results

Branded Consumer Performance Drives Strong Third Quarter Operating Results, Increasing CAD from Prior Year

Completes Platform Acquisition of Performance Fit Innovator BOA Technology Subsequent to Quarter-End

Achieves Milestone as Cumulative Distributions Paid Increase to Over $20 per Share Since CODI's IPO

Westport, Conn., October 28, 2020
- Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today its consolidated operating results for the three months ended September 30, 2020.

Third Quarter 2020 Highlights
Reported net sales of $418.9 million;
Reported net income of $20.9 million;
Reported non-GAAP Adjusted EBITDA of $73.9 million;
Reported Cash Provided by Operating Activities of $24.5 million and non-GAAP Cash Flow Available for Distribution and Reinvestment ("CAD") of $43.5 million;
Announced platform acquisition of BOA Technology Inc., which closed in October;
Appointed Katie Melzer as Managing Director and Head of Business Development;
Completed the accretive add-on acquisition of Polyfoam Corp by CODI’s subsidiary Foam Fabricators;
Paid a third quarter 2020 cash distribution of $0.36 per share on CODI's common shares in October 2020, bringing cumulative distributions paid to $20.0352 per common share since CODI's IPO in May of 2006; and
Declared a quarterly cash distribution of $0.453125 per share on the Company's 7.250% Series A Preferred Shares, $0.4921875 per share on the Company's 7.875% Series B Preferred Shares, and $0.4921875 per share on the Company's 7.875% Series C Preferred Shares payable on October 30, 2020;

"The competitive advantage gained through our permanent capital structure has never been more apparent,” said Elias Sabo, CEO of Compass Diversified. “CODI’s strong performance in the third quarter is a testament to our differentiated model and the outperformance of our branded consumer businesses. Our team continues to execute on our acquisition strategy amid heightened uncertainty, and we are pleased to have completed the acquisition of another growing and aspirational brand, BOA Technology. As we continue to transform our portfolio, BOA joins a strong lineup of branded consumer business, including Marucci, 5.11,



The following information was filed by Compass Group Diversified Holdings Llc on Wednesday, October 28, 2020 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 2020 10-K Annual Report includes:

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

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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 - 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)
Subsequent Event (Detail)
Subsequent Events
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

CIK: 1345122
Form Type: 10-Q Quarterly Report
Accession Number: 0001345126-20-000062
Submitted to the SEC: Wed Oct 28 2020 4:16:16 PM EST
Accepted by the SEC: Wed Oct 28 2020
Period: Wednesday, September 30, 2020
Industry: Miscellaneous Products Of Petroleum And Coal

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