Cadre Holdings Q2 2022 Earnings Report
Key Takeaways
Cadre Holdings reported a net sales increase to $118.2 million, with a gross profit margin of 36.6% and net income of $4.4 million. The company exceeded its pricing growth target, grew its orders backlog, and reaffirmed its full-year guidance.
Net sales for the second quarter reached $118.2 million.
Gross profit margin for the second quarter was 36.6%.
Net income for the second quarter amounted to $4.4 million, or $0.12 per diluted share.
Adjusted EBITDA for the second quarter was $18.4 million, with a margin of 15.6%.
Cadre Holdings
Cadre Holdings
Cadre Holdings Revenue by Segment
Forward Guidance
For the full year 2022, Cadre expects to generate net sales in the range of $444.0 million to $452.0 million and Adjusted EBITDA in the range of $72.5 million and $77.5 million. Cadre expects Adjusted EBITDA conversion in the range of 92-95% for the full year.
Positive Outlook
- Net sales are expected to be in the range of $444.0 million to $452.0 million.
- Adjusted EBITDA is expected to be in the range of $72.5 million and $77.5 million.
- Adjusted EBITDA conversion is expected to be in the range of 92-95%.
- The company anticipates continued strong demand for its products.
- The company expects its product portfolio mix to normalize in the second half of 2022.
Challenges Ahead
- Ongoing supply chain disruptions could impact results.
- Changes to global, social, and political economic conditions could impact results.
- Spending patterns of government agencies could impact results.
- Competitive pressures could impact results.
- The impact of acquisitions and related integration activities could impact results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income