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Compass Diversified Holdings' (CODI) CEO Alan Offenberg on Q4 2017 Results - Earnings Call Transcript

Mar. 01, 2018 2:20 PM ETCompass Diversified (CODI)5 Comments
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Compass Diversified Holdings (NYSE:CODI) Q4 2017 Earnings Conference Call March 1, 2018 9:00 AM ET


Leon Berman - IR

Alan Offenberg - Partner, CEO & Executive Director

Elias Sabo - Founding Partner, CGM

Ryan Faulkingham - EVP, CFO & Co-Compliance Officer

David Swanson - Partner, CGM

Pat Maciariello - Partner


Lawrence Solow - CJS Securities

Leslie Vandegrift - Raymond James

Douglas Mewhirter - SunTrust Robinson Humphrey

Brian Hogan - William Blair & Company


Good morning and welcome to Compass Diversified Holdings' 2017 fourth quarter and full year conference call. Today's call is being recorded. All lines have been placed on mute. [Operator Instructions]. At this time, I would like to turn the conference over to Leon Berman of the IGB Group for introductions and the reading of the safe harbor statement. Please go ahead, sir.

Leon Berman

Thank you and welcome to Compass Diversified Holdings' fourth quarter and full year 2017 conference call. Representing the company today are Alan Offenberg, CEO; Ryan Faulkingham, CFO; and Elias Sabo, CODI'S CEO-elect and a founding partner of Compass Group management. Also joining us today are Dave Swanson and Pat Maciariello, partners of Compass Group management, who will be available for questions during the Q&A portion of today's call.

Before we begin, I would like to point out that the Q4 press release, including the financial tables and non-GAAP financial measure reconciliations, are available on the company's website at www.compassdiversifiedholdings.com. The company also filed its Form 10-K with the SEC last night, which includes reconciliations of non-GAAP financial measures discussed on this call.

Please note that references to EBITDA in the following discussions refer to adjusted EBITDA as reconciled to net income in the company's financial filings. The company does not provide a reconciliation of the ratio of its estimated cash flow

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Comments (5)

any thoughts on the new preferred offering?
I always feel like the management team does a good job of capital allocation and considering all the different types of financing available. I don't really have an opinion one way or the other really....but I'm generally not a fan of adding more debt, so in that regard I guess I'm okay with this strategy. Being able to easily issue more equity is one of the upsides of being publicly traded...
Hampton108 profile picture
Just a little bump in the divvy please...

Long: CODI
I was hoping for a divy increase too. But per the conference call, it appears that they are looking for a payout ratio closer to 50% until they consider raising the dividend. That could be a few years....
Hampton108 profile picture
At least they’ve been consistent...something to be said for that, and at +/-8% certainly better than many other investing instruments!!!
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