Cadre Holdings, Inc. ( (CDRE) ) has released its Q3 earnings. Here is a breakdown of the information Cadre Holdings, Inc. presented to its investors.
Cadre Holdings, Inc., based in Jacksonville, Florida, is a global leader in the manufacturing and distribution of safety equipment and related products for sectors such as law enforcement, military, and nuclear markets, known for its innovative product offerings and premium brands.
Cadre Holdings recently released its third quarter 2024 financial results, highlighting a robust demand for its mission-critical safety equipment despite experiencing some operational setbacks due to cybersecurity incidents earlier in the year.
The company reported net sales of $109.4 million for the third quarter, a decrease from the previous year’s $125.1 million, impacted by cybersecurity incidents that disrupted production and order fulfillment. However, for the nine months ending September 30, 2024, net sales rose to $391.6 million compared to $357.9 million for the same period in 2023, driven by acquisitions and increased demand for armor and duty gear products. Adjusted EBITDA stood at $13.5 million for the third quarter and $66.3 million for the nine months, with adjusted EBITDA margins of 12.4% and 16.9%, respectively.
Despite the challenges, Cadre Holdings declared a quarterly dividend and emphasized its strategic focus on leveraging favorable industry trends and a robust M&A pipeline to strengthen its market position. The company is confident in its resilience and ability to grow despite external conditions, aiming for continued expansion and enhanced market leadership.
Looking forward, Cadre Holdings has implemented necessary countermeasures to address cybersecurity threats and foresees a positive trajectory, adjusting its full-year guidance to project net sales between $560 million and $571 million, with adjusted EBITDA expected to range from $101 million to $107 million.
