Filing Flows › Compass Diversified (CODI) › Q2 2026
Compass Diversified (CODI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
Compass Diversified (CODI) reported revenue of $424M for the second quarter 2026 (Q2 2026), -11% from a year earlier and -0.7% from the quarter before. Operating margin was 6.8%, net earnings $81.1M (19.1% of revenue).
Compass Diversified, Q2 2026: revenue $424M (-11% year over year), operating margin 6.8%, net earnings $81.1M, operating cash flow $29.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $424M | -0.7% | -11% |
| Gross profit | $200M | +6% | -4% |
| Operating profit | $29.0M | — | — |
| Net earnings | $81.1M | — | — |
| Operating cash flow | $29.7M | +24% | — |
| Free cash flow | $23.5M | +25% | — |
What changed
Revenue was $424.0M in Q2 2026, down 11% year over year and down 1% from the previous quarter. 5.11 Tactical was the largest line at 30% of revenue. Rimports lost $33.2M year over year (down 43%), 61% of the total change.
Gross margin was 47.2%, up 3.6 points from Q2 2025. Operating profit was $29.0M, a 6.8% margin (up 12.5 points year over year). Operating expenses fell 27% while revenue fell 11%. Net earnings were $81.1M. The effective tax rate was 35.3%. Non-operating items added $99.8M, 77% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $29.7M, 36% of net income including minority interests. Non-cash charges added back $35.1M of depreciation and amortization. Working capital and other items used $88.8M. Capital expenditures of $6.2M left free cash flow of $23.5M.
Questions
What was Compass Diversified's revenue in the second quarter 2026?
Compass Diversified (CODI) reported revenue of $424M for the second quarter 2026 (Q2 2026), -11% from a year earlier and -0.7% from the quarter before.
Was Compass Diversified profitable in the second quarter 2026?
Operating profit was $29.0M (6.8% of revenue) and net earnings $81.1M.