Cadre Holdings Q3 net sales rise 42% on demand for armor and duty gear products

Cadre Holdings

04/11/2025 22:04

Overview

Cadre Holdings Q3 net sales grow 42% yr/yr but slightly misses analyst expectations

Adjusted EBITDA for Q3 beats analyst estimates, reflecting strong operational performance

Company announces acquisition of TYR Tactical, largest since going public

Outlook

Company expects 2025 net sales between $624 mln and $630 mln

Cadre anticipates 2025 Adjusted EBITDA between $112 mln and $116 mln

Capital expenditures for 2025 expected to be $7 mln to $8 mln

Result Drivers

ACQUISITIONS AND DEMAND - Net sales growth driven by recent acquisitions and strong demand for armor and duty gear products

GROSS PROFIT DRIVERS - Gross profit increase due to higher volume, favorable pricing, and decreased inventory amortization

BACKLOG INCREASE - Organic backlog increased by $20 mln from Q2 to Q3, indicating strong future demand

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Miss
$155.90 mln
$158 mln (6 Analysts)
Q3 Net Income
$10.90 mln
Q3 Adjusted EBITDA
Beat
$29.80 mln
$27.51 mln (6 Analysts)
Q3 Gross Margin
42.70%
Q3 Adjusted EBITDA Margin
19.10%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for Cadre Holdings Inc is $46.50, about 8.7% above its November 3 closing price of $42.46

The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 24 three months ago

Press Release: ID:nBw5sGyzya

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)