CODI-PC Compass Diversified Holdings

MIXED Impact: 5/10 8-K
Horizon weeks Filed May 6, 2026 Processed 1mo ago SEC 0001345126-26-000041
8-K Item 2.02: Earnings release
Latest settled — T+20d
CODI-PC ▼ -0.27% at T+20d
NEUTRAL call ✗ call lost -0.27% · α vs SPY -3.41% · entry $21.90 → $21.84
Next anchor: T+60d in 7w
Currently $22.30 · +1.83% from $21.90 entry
Entry anchored
May 6, 2026
via day open
T+1d
+0.27%
call +0.27% · α -0.56%
$21.96
settled 5w ago
T+5d
-0.23%
call -0.23% · α -1.73%
$21.85
settled 28d ago
T+20d
-0.27%
call -0.27% · α -3.41%
$21.84
settled 6d ago
T+60d
—
call — · α —
—
in 7w

Price Chart

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Executive Summary

Compass Diversified reported Q1 2026 GAAP net revenues of $426.9M (down 5.9% YoY, missing $437.7M consensus), but ex-Lugano revenues were flat at $426.9M. Net loss narrowed to $30.8M from $49.8M, and Subsidiary Adjusted EBITDA rose 6.3% to $83.9M. The company completed the sale of Sterno's food service business for $292.5M, using proceeds to reduce debt and avoid milestone fees.

Key Financial Metrics

Free Cash Flow
$18.8M
Gross Margin
44.37%

Actionable Insight

The Sterno divestiture and deleveraging are near-term positives, but core revenue (ex-Lugano) is flat, signaling muted organic growth. Monitor Q2 2026 for evidence of sustained EBITDA improvement and further debt paydown.

Key Facts

  • GAAP net revenues $426.9M vs. $453.8M prior year, down 5.9%
  • Excluding Lugano, revenues flat at $426.9M vs. $426.9M prior year
  • Net loss from continuing operations improved to $30.8M from $49.8M
  • Subsidiary Adjusted EBITDA up 6.3% to $83.9M
  • Sold Sterno food service business for $292.5M enterprise value, net proceeds ~$280M
  • Guidance for FY2026 Subsidiary Adjusted EBITDA $320M-$365M (adjusted for Sterno sale)
  • Cash and cash equivalents $65.2M; revolver availability ~$100M

Financial Impact

Sale of Sterno generated ~$280M in net proceeds, reducing debt below 1.0x senior secured leverage

revenuedebtebitda

Risk Factors

  • Ongoing Lugano bankruptcy and litigation over internal controls
  • Potential NYSE listing non-compliance
  • Macroeconomic headwinds affecting middle-market subsidiaries

Market Snapshot

Exchange
NYSE
Sector
Household Furniture

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001345126-26-000041
Document: codi-20260506.htm0001345126-26-000041
Document: 0001345126-26-000041-index-headers.html0001345126-26-000041
Document: 0001345126-26-000041-index.html0001345126-26-000041
Document: 0001345126-26-000041.txt0001345126-26-000041
8-K Data (Synthetic)0001345126-26-000041
2 reports for CODI-PC
Performance horizon
Filters
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Reports for CODI-PC — sortable, filterable
Type Now
May 6, 2026
4w ago
8-K
MIXED ★ 5/10
$21.90 $21.84▼ −0.27%▼ −3.41%$22.30 (+1.83%)
Apr 10, 2026
8w ago
DEFA14A
NEUTRAL ★ 3/10
$20.09 $22.00▲ +9.50%▲ +1.77%$22.30 (+10.99%)
Showing 2 of 2

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