Compass Diversified (CODI) Earnings
Compass Diversified is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.08. CODI has beaten EPS estimates in 4 of its last 11 reported quarters (average surprise +93.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.06 | $0.12 | +300.0% | $427M | -2.5% |
| Feb 26, 2026 | — | $-0.98 | — | $473M | — |
| Feb 27, 2025 | $0.56 | $0.62 | +10.7% | $549M | -12.2% |
| Oct 30, 2024 | $0.54 | $0.43 | -20.4% | $583M | -8.0% |
| Jul 31, 2024 | $0.50 | $0.92 | +84.0% | $543M | -1.4% |
| May 1, 2024 | $0.46 | $0.46 | +0.0% | $524M | -2.9% |
| Feb 28, 2024 | $0.40 | $0.32 | -20.0% | $423M | -26.6% |
| Nov 2, 2023 | $0.42 | $0.38 | -9.5% | $570M | -2.2% |
| Aug 2, 2023 | $0.39 | $0.49 | +25.6% | $524M | -5.9% |
| May 3, 2023 | $0.36 | $0.29 | -19.4% | $542M | +0.1% |
| Mar 1, 2023 | $0.42 | $0.31 | -26.2% | $595M | -0.7% |
| Nov 3, 2022 | $0.46 | $0.46 | +0.0% | $598M | +8.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Sold Sterno's food service business at attractive valuation despite muted M&A environment. - Completed sale lease back at Altour and applied proceeds to debt reduction. - Subsidiaries collectively outperformed in first quarter with consumer businesses leading. - Honeypot had exceptional momentum with revenue and EBITDA growth. - BOA had strong quarter with revenue and EBITDA growth. - 5.11 Tactical had solid margin and cash flow with retail format grand opening. - Arnold had standout quarter with adjusted EBITDA nearly doubling. - Altor faced challenges but team focused on execution. - Rimports in transition period with stranded costs and commercial relationship issues
Guidance
- Full year 2026 subsidiary adjusted EBITDA expected between $320 to $365 million. - Consumer businesses adjusted EBITDA between $225 to $260 million. - Industrial businesses adjusted EBITDA between $95 and $105 million including stranded costs. - Expect capex between $30 to $40 million for 2026 and corporate cash management between $25 to $30 million. - Outlook does not include impact of potential acquisitions or divestitures except sale of Sterno's food service business and no significant impact from evolving trade environment
Segment performance
GAAP net revenues were $427 million, down 5.9% year-over-year. GAAP net loss from continuing operations was $30.8 million, an improvement of approximately $19 million year-over-year. Net sales were in line with prior year, with strong double-digit growth at the honeypot and Arnold offset by ongoing challenges at Altor. Subsidiary adjusted EBITDA was $83.9 million, an increase of 6.3%, with consumer up 11.6% and industrial down 4.5% compared to the prior year period. Consumer net sales increased 2.3%, while industrial net sales declined 3.3%. Arnold had adjusted EBITDA nearly doubling year over year. The honeypot had revenue growth of nearly 25% and EBITDA growth of over 40% compared to prior period. BOA had revenue growth of 6.5% and EBITDA growth of 11% compared to prior year period. 5.11 Tactical delivered solid margin performance and strong cash flow. Altor faced challenging first quarter. Rimports will be a transition period with stranded costs and updated commercial relationship weighing on near-term results
Risks & headwinds
- Broader environment including geopolitical uncertainty, tighter private credit markets could limit monetizing businesses at attractive values. - Leverage ratio above target range and shares trade at discount to intrinsic value. - Altor faced competitive pressure in cold chain and consumer headwinds in appliance market. - Rimports has transition period with stranded costs and updated commercial relationship impacting near-term results. - Evolving tariff environment creates market uncertainty and timing/magnitude of tariff-related refunds difficult to forecast
Analyst Q&A
Q: Clarify guidance, impact of Sterno sale, stranded costs, corporate costs, etc.
A: Sale of Sterno's food service business closed, repaid debt, Rimports has transition with stranded costs and commercial negotiations.
Q: Regarding leverage, long-term goal, impact of Sterno sale on timeline, share buybacks.
A: Long-term goal 3 - 3.5 times leverage, next milestone under 4 times, share buybacks possible once under 4 times.
Q: SG&A lower in quarter, reason.
A: Normal prudent management, businesses looking to reduce SG&A.
Q: Honeypot growth drivers, tariff recoveries, MSA review.
A: Honeypot growth from market share gains and category extension, no Q1 tariff recoveries, MSA review ongoing.
Q: Urgency of other sale processes, tariff refunds process.
A: Urgency to delever and return capital, tariff refunds process ongoing with no clarity yet