Black Diamond Returns to Growth in Q1, Posting DD Gain as Inventory Clears

May 6, 2024

Clarus Corp., the parent of Black Diamond, the parent of the Black Diamond, Pieps, MaxTrax and Rhino-Rack brands, believes has laid the foundation to drive increased profitability and unlock new growth opportunities in 2024 and beyond. It appears Wall Street believes it too as CLAR shares surged nearly 19 percent on Friday after beating expectations and laying out a thoughtful strategic direction on a quarterly conference call with analysts.

Clarus first quarter revenue reached $69.3 million exceeding the company’s guidance of $64 million to $66 million, but falling short of the $70.3 million in the prior-year first quarter. The decline was said to be driven largely by the softness in the European wholesale market and Independent Global Distributor (IGD) markets in Outdoor, partially offset by strong Adventure segment sales growth. On a constant-currency basis, sales were down 0.5 percent. SGB Media