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Compass Group Diversified Holdings Llc (1345122) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Compass Group Diversified Holdings Llc

CIK: 1345122

Exhibit 99.1

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Compass Diversified Reports First Quarter 2021 Financial Results

Branded Consumer Performance Continues to Drive Record First Quarter Operating Results
Raises Full Year Guidance
Provides Update on Potential Change in Tax Classification
Westport, Conn., April 29, 2021
- 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 March 31, 2021.

First Quarter 2021 Highlights

Reported net sales of $461.6 million for the first quarter 2021;
Reported net income of $22.0 million for the first quarter 2021;
Reported non-GAAP Adjusted EBITDA of $88.0 million for the first quarter 2021;
Reported Cash Provided by Operating Activities of $36.4 million for the first quarter 2021, and non-GAAP Cash Flow Available for Distribution and Reinvestment (“CAD’) of $46.2 million for the first quarter 2021;
Completed a refinancing of its credit facilities concurrent with the issuance of $1.0 billion of 5.250% senior unsecured notes due 2029.
Paid a first quarter 2021 cash distribution of $0.36 per share on CODI's common shares in April 2021; and
Declared quarterly cash distributions 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 (the “Preferred Distributions”). The Preferred Distributions are payable on April 30, 2021.
“CODI’s outstanding performance in the first quarter, highlighted by record CAD and strong cash flow growth, was driven by impressive results from our branded consumer businesses, as we increased revenue and earnings across all of our consumer subsidiaries,” said Elias Sabo, CEO of Compass Diversified. “Last year’s acquisitions of two rapidly growing businesses, Marucci and BOA, underscore our success capitalizing on periods of market dislocations and have served to offset typical first quarter


The following information was filed by Compass Group Diversified Holdings Llc on Thursday, April 29, 2021 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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Compass Group Diversified Holdings Llc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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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)
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
Subsequent Event (Detail)
Subsequent Events
Subsequent Events (Details)
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: 0001345126-21-000014
Submitted to the SEC: Thu Apr 29 2021 4:17:13 PM EST
Accepted by the SEC: Thu Apr 29 2021
Period: Wednesday, March 31, 2021
Industry: Miscellaneous Products Of Petroleum And Coal

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