Cadre Holdings Q4 2023 Earnings Report
Key Takeaways
Cadre Holdings reported Q4 2023 net sales of $124.6 million compared to $123.6 million for the same quarter in the prior year. Net income for the quarter was $9.6 million, or $0.25 per diluted share, compared to $6.6 million in the prior year. The company's Adjusted EBITDA for the quarter was $20.7 million, representing a 16.6% margin.
Net sales for the fourth quarter reached $124.6 million.
Gross profit margin for the fourth quarter was 39.9%.
Net income for the fourth quarter was $9.6 million, or $0.25 per diluted share.
Adjusted EBITDA for the fourth quarter was $20.7 million, with a margin of 16.6%.
Cadre Holdings
Cadre Holdings
Cadre Holdings Revenue by Segment
Forward Guidance
For the full year 2024, Cadre expects to generate net sales in the range of $553 million to $572 million and Adjusted EBITDA in the range of $104 million and $108 million. We expect capital expenditures to be in the range of $8 million to $10 million.
Positive Outlook
- Anticipates net sales between $553 million and $572 million for full year 2024.
- Expects Adjusted EBITDA to be in the range of $104 million to $108 million for full year 2024.
- Capital expenditures are projected to be between $8 million and $10 million.
- Strategic acquisitions of ICOR Technology and Alpha Safety are expected to contribute to growth.
- Ongoing implementation of the Cadre operating model and strong secular tailwinds are expected to drive performance.
Challenges Ahead
- Has not provided net income guidance due to forecasting difficulty.
- Logistical challenges related to supply chain disruptions and delays
- The impact of inflation
- Increased expenses associated with being a public company
- Our ability to integrate the operations of the businesses we have acquired, including, without limitation, ICOR Technology Inc. and Alpha Safety, and may acquire in the future
Revenue & Expenses
Visualization of income flow from segment revenue to net income