Clarus Q3 net income drops 38% to $2.8M; cuts FY22 EBITDA guidance to $64M from $78M

Clarus Corp

2022-Q3 EPS reported $0.30 revenue$343,924,000

Q3 sales $115.7M (+6% YoY, +9% constant currency); net income $2.8M ($0.07 diluted) vs $4.5M ($0.13) YoY.
Adj EBITDA $15.1M (13.0% margin) vs $19.2M (17.7%) YoY; FX headwind $3.3M, freight headwind $2.3M.
FY22 guidance cut: sales ~$445M (prior $470M); adj EBITDA ~$64M (prior $78M); free cash flow $0 to -$5M.
Adventure segment sales $18.6M, down due to vehicle delivery constraints and weak demand in Australia and North America.
Repurchased 527,277 shares for $7.2M in Q3; $42.8M remaining under $50M stock repurchase program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Clarus Corp reported Third Quarter 2022 results: revenue $115.7 million, net income $2.8 million, EPS $0.07 per diluted share. Guidance lowered.

Period: Third Quarter 2022
Revenue: $115.7 million
Net income: $2.8 million
EPS: $0.07 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

Clarus Reports Third Quarter 2022 Results – Sales in the Third Quarter of 2022 Increased 6% Year-Over-Year to $115.7 Million

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Source: SEC EDGAR

accession 0001104659-22-115419

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