Clarus Q2 sales down 27% to $83.7M; net loss of $2.1M; lowers FY2023 guidance

Clarus Corp

2023-Q2 EPS reported -$0.01 revenue$181,112,000

Sales $83.7M (down 27% YoY); net loss $2.1M vs income $3.8M; adj. EPS $0.11 vs $0.33 YoY.
Adjusted EBITDA $7.3M (8.7% margin) vs $17.6M (15.3%) YoY; all segments declined.
Outdoor sales declined 24% to $40.1M; Precision Sport down 27% to $25.8M; Adventure down 34% to $17.9M.
FY2023 guidance lowered: sales $385-400M, adj. EBITDA $42-50M; free cash flow $30-35M.
Net debt $127.2M, leverage 2.7x; credit facility matures 2027; NOL carryforwards $17.7M.

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