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Dec 31, 2024
Cadre Holdings Q4 2024 Earnings Report
Cadre Holdings reported a record Q4 2024 with a 41.3% revenue increase and improved profitability.
Key Takeaways
Cadre Holdings achieved strong financial performance in Q4 2024, with revenue increasing by 41.3% year-over-year to $176.0 million, driven by acquisitions and strong shipments of Armor and Duty Gear. Adjusted EBITDA grew significantly to $38.5 million, leading to a higher adjusted EBITDA margin of 21.9%. Gross profit margin improved to 43.9%, reflecting stronger operational efficiencies. Net income reached $13.0 million, up from $9.6 million in Q4 2023.
Revenue grew 41.3% year-over-year to $176.0 million.
Adjusted EBITDA increased to $38.5 million, with a 21.9% margin.
Gross profit margin improved to 43.9%, up from 39.9% in Q4 2023.
Net income rose to $13.0 million, driven by increased gross profit.
Revenue by Segment
Forward Guidance
Cadre Holdings expects continued revenue and EBITDA growth in 2025, supported by acquisitions and strong demand for its products.
Positive Outlook
- Revenue guidance set between $572 million and $601 million for 2025.
- Adjusted EBITDA expected to range between $105 million and $115 million.
- Strong demand trends in core safety product markets.
- Expansion in nuclear safety through recent acquisitions.
- Improved cash flow to support dividends and strategic investments.
Challenges Ahead
- Potential macroeconomic headwinds impacting sales volume.
- Fluctuations in raw material costs affecting profitability.
- Integration risks from recent acquisitions.
- Increased interest expenses due to higher debt levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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