The following is a summary of the Compass Diversified (CODI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Compass Diversified reported Q1 2024 revenue of $524.3 million, an 8% increase from Q1 2023.

• Adjusted EBITDA in Q1 2024 was $94.8 million, up 28% compared to $74.1 million in Q1 2023.

• The strongest performance was the branded consumer vertical with an 11% growth in pro forma revenue and 22% growth in pro forma EBITDA.

• The Industrial vertical, however, saw a decline in revenues and adjusted EBITDA.

• Consolidated net income for the Q1 2024 was $5.8 million, compared to a net income of $109.6 million in Q1 2023.

• CODI has raised its full-year 2024 adjusted earnings guidance range.

Business Progress:

• Compass Diversified focuses on owning and managing businesses with industry-leading growth potential.

• Despite facing some hurdles, they expressed confidence in their portfolio managers' ability to generate ample sources of capital and nurture growth.

• BOA saw better than expected growth and PrimaLoft is expected to bounce back in Q2.

• The Honey Pot Company, acquired in Q1 2024, is now fully integrated and the divestiture of Crosman aligns with their strategic vision.

• The company is planning on portfolio expansion and boosting ESG efforts, as evident from their first sustainability report.

More details: Compass Diversified IR

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