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Dec 31, 2023
Cadre Holdings Q4 2023 Earnings Report
Cadre Holdings' Q4 2023 earnings were reported, revealing a mix of increased revenue and strategic acquisitions.
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
Revenue by Segment
Product Segment Revenue
CapyFin.comDistribution Segment Revenue
CapyFin.com 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