Cadre Holdings Q2 EPS USD 0.26

Cadre Holdings, Inc. (NYSE: CDRE) reported second-quarter 2023 earnings per share (EPS) of $0.26, reflecting strong performance across key financial metrics. The company achieved net sales of $121.1 million for the quarter, representing growth compared to the same period in 2022. This increase was driven by the Cyalume acquisition, higher armor and holster volume, and strong agency demand for hard goods, partially offset by timing factors related to explosive ordnance disposal (EOD) products.

Gross profit for the quarter reached $50.7 million, with a gross profit margin of 41.9%, up from 36.6% in the prior-year period. The improvement was attributed to favorable pricing, product mix, and productivity gains. Adjusted EBITDA for the quarter was $22.8 million, with an adjusted EBITDA margin of 18.8%, marking a significant increase compared to the prior year.

Net income for the quarter was $11.0 million, or $0.29 per diluted share, compared to $4.4 million, or $0.13 per diluted share, in the second quarter of 2022. The company also declared a quarterly cash dividend of $0.08 per share in July 2023.

Looking ahead, Cadre raised its full-year 2023 adjusted EBITDA guidance to a range of $80 to $84 million and expects net sales between $472 and $484 million. The company remains focused on expanding its market leadership through strategic acquisitions and operational efficiency, while maintaining a disciplined approach to capital allocation.