Cadre Holdings Q2 2024 Earnings Report
Key Takeaways
Cadre Holdings reported a strong second quarter in 2024, with net sales increasing by 19% year-over-year to $144.3 million and net income rising by 14% year-over-year to $12.6 million. Adjusted EBITDA increased to $28.3 million with an adjusted EBITDA margin of 19.6%. The company is actively evaluating M&A opportunities and remains on track to deliver double-digit net sales and adjusted EBITDA growth in 2024.
Net sales reached $144.3 million for the second quarter of 2024.
Gross profit margin was 40.6% for the second quarter.
Net income was $12.6 million, or $0.31 per diluted share, for the second quarter.
Adjusted EBITDA was $28.3 million for the second quarter, with a margin of 19.6%.
Cadre Holdings
Cadre Holdings
Cadre Holdings Revenue by Segment
Forward Guidance
Due to limited production stemming from the recent cyber incident, Cadre has modified its full year guidance for 2024. The Company now expects to generate net sales in the range of $571 million to $582 million and Adjusted EBITDA in the range of $103 million and $109 million. We expect capital expenditures to be in the range of $7 million to $9 million.