Filing Flows › Compass Diversified (CODI) › Q3 2026
Compass Diversified (CODI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Compass Diversified (CODI) reported revenue of $423M for the third quarter 2026 (Q3 2026), -11% from a year earlier and -0.3% from the quarter before. Operating margin was 7.5%, net earnings $21.5M (5.1% of revenue).
Compass Diversified, Q3 2026: revenue $423M (-10% year over year), operating margin 7.5%, net earnings $21.5M, operating cash flow $51.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $423M | -0.3% | -11% |
| Gross profit | $199M | -0.7% | -4% |
| Operating profit | $31.8M | +10% | — |
| Net earnings | $21.5M | -73% | — |
| Operating cash flow | $51.6M | +74% | +383% |
| Free cash flow | $44.9M | +91% | 93× |
What changed
Revenue was $422.9M in Q3 2026, down 11% year over year and roughly flat from the previous quarter. 5.11 Tactical was the largest line at 32% of revenue. Rimports lost $38.5M year over year (down 52%), 77% of the total change.
Gross margin was 46.9%, up 3.0 points from Q3 2025. Operating profit was $31.8M, a 7.5% margin (up 9.9 points year over year). Operating expenses fell 24% while revenue fell 11%. Net earnings were $21.5M. The tax line was a benefit of $20.1M on pre-tax earnings of $3.5M.
Operating cash flow was $51.6M (up 383% year over year), 218% of net income including minority interests. Non-cash charges added back $34.6M of depreciation and amortization. Working capital and other items used $6.7M. Capital expenditures of $6.6M left free cash flow of $44.9M.
Questions
What was Compass Diversified's revenue in the third quarter 2026?
Compass Diversified (CODI) reported revenue of $423M for the third quarter 2026 (Q3 2026), -11% from a year earlier and -0.3% from the quarter before.
Was Compass Diversified profitable in the third quarter 2026?
Operating profit was $31.8M (7.5% of revenue) and net earnings $21.5M.