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Cadre Holdings Q1 2025 Earnings Report
Cadre Holdings reported a decrease in net sales but an increase in net income for the first quarter of 2025, driven by favorable gross profit margins and lower acquisition-related costs.
Key Takeaways
Cadre Holdings, Inc. reported first-quarter 2025 net sales of $130.1 million, a decrease from $137.9 million in the prior year, primarily due to large order shipment timing. Despite this, net income increased to $9.2 million from $6.9 million, and gross profit margin improved to 43.1% from 41.8%, driven by favorable mix and pricing.
Net sales for Q1 2025 were $130.1 million, a decrease from $137.9 million in Q1 2024.
Net income for Q1 2025 increased to $9.2 million, up from $6.9 million in Q1 2024.
Gross profit margin improved to 43.1% in Q1 2025, compared to 41.8% in Q1 2024.
Adjusted EBITDA for Q1 2025 was $20.5 million, with an Adjusted EBITDA margin of 15.8%.
Cadre Holdings
Cadre Holdings
Cadre Holdings Revenue by Segment
Revenue by Segment
Product Segment Revenue
CapyFin.comDistribution Segment Revenue
CapyFin.com Forward Guidance
For the full year 2025, Cadre expects net sales to be between $618 million and $648 million, and Adjusted EBITDA to be between $112 million and $122 million. Capital expenditures are projected to be in the range of $8 million to $10 million.
Positive Outlook
- Expected net sales growth for the full year 2025.
- Anticipated increase in Adjusted EBITDA for the full year 2025.
- Guidance incorporates the estimated impact of tariffs, suggesting proactive management.
- Mitigating actions are expected to help offset future potential impacts.
- Continued strong demand for mission-critical safety equipment.
Challenges Ahead
- Guidance assumes mitigating actions will offset future potential impacts, which may not fully materialize.
- Net income guidance is not provided due to inherent difficulty in forecasting certain expenses and gains.
- The business environment is described as having 'more pronounced uncertainty'.
- Potential risks and uncertainties could cause actual results to differ materially from forward-looking statements.
- No assurance that non-GAAP financial measures are comparable to similarly titled measures used by other publicly traded companies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income