What is the revenue and EPS growth rate for Cadre Holdings year over year?

What does Cadre Holdings do and what are its main business segments?

What were the key takeaways from Cadre Holdings’s earnings call?

What guidance did Cadre Holdings's management provide for the next earnings period?

What is the market's earnings forecast for Cadre Holdings next quarter?

What is Cadre Holdings's latest dividend and current dividend yield?

Did Cadre Holdings beat or miss consensus estimates last quarter?

What were the key takeaways from Cadre Holdings's earnings call?

- **Acquisition Momentum**: Completed TYR Tactical acquisition, adding $100M+ annual revenue and enhancing mission-critical safety portfolio.
- **Backlog Growth**: 50% YoY increase in orders backlog, driven by $86M blast seat contracts and $50M BEMO program.
- **Financial Resilience**: 2025 adjusted EBITDA up 140bps to $111.7M; 2026 guidance for 22-24% EBITDA growth despite near-term nuclear headwinds.
- **Strategic Focus**: Prioritizing M&A in public safety and nuclear markets, with 6x acquisitions since IPO.
- **Margin Outlook**: Q1 2026 EBITDA margins ~18.5%, improving in H2 as mix shifts to higher-margin public safety products.

**【CEO Summary Section】**
- Cadre delivered steady progress in 2025, focusing on portfolio expansion, integration, and demand across public safety, defense, and nuclear safety markets.
- Acquired Carr's Engineering (nuclear safety) and TYR Tactical (advanced protective gear), adding $50M+ in annualized revenue and enhancing mission-critical capabilities.
- Backlog grew 50% YoY, driven by large contracts like the $86M blast attenuation seat deal with GDELS and the $50M BEMO contract.
- Maintained financial discipline with a net leverage ratio of 2.5x post-TYR acquisition, enabling opportunistic M&A.

**【President's Q4 Update】**
- Q4 orders backlog up 50% YoY, reflecting strong demand in duty gear, blast mitigation, and nuclear safety.
- Secured $86M in blast attenuation seat contracts for military vehicles, with production ramping in 2026-2031.
- TYR Tactical integration underway, with initial projects leveraging TYR's hard armor capabilities in armor and Med-Eng businesses.
- Faced near-term nuclear business headwinds from delayed plutonium down blending, but long-term commercial nuclear opportunities offsetting losses.

**【CFO Financial Commentary】**
- 2025 adjusted EBITDA reached $111.7M (140bps margin improvement), with public safety margins up 188bps YoY.
- 2026 guidance: $736-758M revenue (22% YoY growth) and $136-141M EBITDA (24% YoY growth), driven by TYR and organic growth.
- Q1 2026 expected to be similar to Q3 2025, with margins ~39% due to volume/mix headwinds, improving in H2.
- CapEx of $10-14M for nuclear business capacity expansion, supporting long-term growth.

**【Q&A Highlights】**
- **Organic Growth**: 3-5% YoY target for public safety and nuclear, despite 2025 organic decline due to delayed orders.
- **Nuclear Mix Impact**: Near-term margin drag from reduced down blending activity, but commercial nuclear funnel growth offsetting losses.
- **TYR Contribution**: $100M+ revenue and 20% EBITDA margin in 2026, with no synergies baked into guidance.
- **Blast Seat Contract**: Production ramp begins Q2 2026, with most revenue in 2027-2031.
- **M&A Pipeline**: Active in public safety and nuclear, with disciplined return thresholds.


Cadre Holdings, Inc. (CDRE) Q4 2025 Earnings Call Transcript

- **Acquisition of TYR Tactical**: Adds $50 million IDIQ contract and global reach, with 7,000-ton presses for advanced armor materials.
- **Q3 Financial Beat**: 42% YoY sales growth, 610bp gross margin expansion, and $20 million sequential backlog increase.
- **BEMO Momentum**: $10 million initial purchase order and global expansion pipeline.
- **2025 Guidance**: 10.5% revenue growth, 18.2% EBITDA margin, and 2.7x leverage post-acquisition.
- **Key Risks**: Government shutdown delays, nuclear order timing, and cyber comp headwinds.

**【CEO Summary Section】**
- Announced acquisition of TY Tactical, a high-margin, mission-critical gear provider, expanding Cadre's international reach and hard armor capabilities.
- Highlighted the $50 million IDIQ contract for the BEMO (Blast Exposure Monitoring) system, with a $10 million initial purchase order and potential for global expansion.
- Emphasized disciplined M&A strategy, with $400 million deployed over 24 months and a focus on high-quality, cash-flow generative businesses.

**【CFO Financial Commentary】**
- Q3 net sales of $155.9 million (+42% YoY), driven by favorable pricing, reduced inventory step-up costs, and strong backlog growth ($20 million sequential increase).
- Gross margin improved 610 basis points YoY, with sequential gains in all core businesses (EOD, duty gear, nuclear).
- Full-year 2025 guidance: $624-630 million net sales (+10.5% YoY midpoint), $112-116 million adjusted EBITDA (+8.7% YoY midpoint), and 18.2% EBITDA margin.
- Pro forma leverage post-TYR acquisition expected at 2.7x, with strong free cash flow generation supporting M&A and dividends.

**【Q&A Highlights】**
- **Gross Margin Growth**: CFO noted broad-based improvement across all segments, driven by productivity, mix, and pricing, with Q4 margins expected to hold near Q3 levels.
- **TYR Integration**: CEO highlighted complementary customer bases (66% TYR international vs. 27% Cadre federal/military), and shared manufacturing capabilities (7,000-ton presses for advanced materials).
- **Government Shutdown Risks**: Management incorporated potential delays into Q4 guidance, with teams actively monitoring federal funding and end-user training cadences.
- **Nuclear Business Outlook**: CFO reaffirmed confidence in nuclear tailwinds (policy, private investment), despite near-term order timing variability.
- **BEMO Expansion**: President noted international interest in blast sensor technology, with potential follow-on orders post-U.S. military validation.


Cadre Holdings, Inc. (CDRE) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 revenue up 9% YoY to $157 million, driven by strong demand in public safety and nuclear sectors.
- **Strategic Acquisition**: Carr's Engineering division acquisition expands nuclear capabilities; integration underway with leadership changes.
- **M&A Pipeline**: $137 million cash and $175 million undrawn revolver support disciplined M&A targeting high-margin businesses.
- **Tariff Mitigation**: USMCA and regional sourcing limit impact; Q3 gross margin temporarily pressured by integration costs.
- **Long-Term Outlook**: U.S. nuclear policy and geopolitical instability support secular growth in safety products; nuclear gross margin target mid-40s.

**【CEO Summary Section】**
- Q2 revenue grew 9% YoY to $157 million, with gross profit up 10% YoY, driven by strong demand for safety products.
- Acquired Carr's Engineering division in April, expanding nuclear safety capabilities and international footprint.
- Maintains robust M&A pipeline, targeting high-margin, recurring-revenue businesses, with $137 million cash and $175 million undrawn revolver capacity.
- Emphasizes secular trends in public safety and nuclear demand, citing geopolitical instability and U.S. nuclear policy tailwinds.

**【President's Business Update】**
- Integration of Carr's Engineering underway, with functional teams (finance, IT, legal) prioritized; new leader Eric Gasvoda appointed to oversee nuclear businesses.
- Sales funnel shows higher proportion of large, delayed orders (e.g., body armor, EOD projects), with timing shifts to 2026 impacting Q2 guidance.
- Tariffs and supply chain dynamics manageable via regional sourcing (USMCA) and manufacturing flexibility, though near-term margin pressure expected.
- Consumer channel resilient despite weak gun sales, with holster demand sustained by brand loyalty and innovation.

**【CFO Financial Commentary】**
- Q2 GAAP net sales $157 million, above expectations; adjusted EBITDA $28.3 million, up 10% YoY.
- Full-year 2025 guidance: $624-630 million net sales (10.5% YoY growth midpoint), $112-116 million adjusted EBITDA (18.2% margin).
- Q3 revenue and EBITDA expected flat vs. Q2, with H2 organic growth 6% and EBITDA up 19%.
- Tariff impact baked into guidance, assuming USMCA remains intact; incremental D&A and inventory step-up costs pressure Q3 gross margins.

**【Q&A Highlights】**
- **Order Timing**: Large ops delays (e.g., body armor, nuclear projects) pushed to 2026, but no budget cuts; confident in eventual wins.
- **Margins**: Long-term target for nuclear businesses: mid- to upper 40% gross margin; Q3 gross margin pressured by Carr's integration costs.
- **Nuclear Growth**: U.S. nuclear policy (executive orders on reactor licensing, fuel production) driving demand; Carr's integration to unlock synergies.
- **Tariff Mitigation**: Regional supply chains (USMCA, European sourcing) limit exposure; manufacturing relocation options explored.
- **New Products**: 24-month pipeline (e.g., HyperX, ballast duty holsters) performing above expectations, despite weak consumer gun market.

Cadre (CDRE)-6 Aug 25-2025 Q2 Earnings call transcript

- **Q1 Beat with Strong Growth**: $130.1M net sales (+15% YoY) and $20.5M EBITDA, driven by nuclear acquisition and EOD demand.
- **Margin Expansion**: 130bps gross margin improvement to 40%, fueled by pricing and lower inventory costs.
- **M&A Momentum**: $46M annualized contribution from Cars acquisition, with robust pipeline across nuclear and public safety.
- **Tariff Resilience**: Mitigation strategies (pricing, production shifts) offset $18-22M annualized impact, with Q4 expected to be strongest quarter.
- **Long-Term Tailwinds**: DOE nuclear modernization, SMR adoption, and bipartisan law enforcement funding support.

**【CEO Opening Remarks】**
- Cadre reported Q1 2025 results above expectations, driven by strong demand for mission-critical safety products and strategic execution.
- Highlighted the successful acquisition of Cars' engineering division, expanding nuclear market presence and adding $46M in annualized net sales.
- Emphasized M&A pipeline strength across nuclear, law enforcement, and military markets, with a focus on high-margin, recurring-revenue businesses.
- Noted Cadre's resilience in uncertain macro environments, with consistent organic growth and stable margins.

**【President Business Update】**
- Q1 net sales of $130.1M and adjusted EBITDA of $20.5M exceeded expectations, with 130bps YoY gross margin improvement due to pricing and lower inventory step-up amortization.
- Orders backlog increased $22.4M, driven by EOD and silo demand, with Q2 expected to be up 17% sequentially.
- Discussed long-term tailwinds in nuclear safety (e.g., DOE modernization, SMR adoption) and law enforcement (bipartisan funding support).
- Highlighted innovation in Axon integration, launching 30 new holsters with signal technology and 6 new pouches for non-firearm equipment.
- Noted cautious optimism on tariffs, with mitigation strategies (pricing, production shifts, productivity improvements) offsetting $18-22M annualized impact.

**【CFO Financial Review】**
- 2025 guidance: $618-648M net sales (11.6% midpoint growth) and $112-122M adjusted EBITDA (11.5% midpoint growth), with 18.5% EBITDA margin.
- Pro forma leverage ratio of 1.75x after acquisition, maintaining financial flexibility for M&A and organic growth.
- Tariff impact reduced to manageable levels due to exemptions and mitigation actions, with confidence in full offset for 2025.
- Second-half strength expected from armor and EOD project timing, with Q4 likely the largest quarter.

**【Q&A Highlights】**
- **Tariff Mitigation**: Price increases, production shifts (e.g., U.S.-Canada border), and productivity initiatives offset $18-22M annualized impact.
- **Acquisition Integration**: Focus on IT, finance, and operating model adoption in Q2, with EBITDA margin expansion expected over time.
- **Market Trends**: Nuclear demand supported by DOE modernization and SMR development; law enforcement budgets resilient to macro cycles.
- **M&A Strategy**: Balanced pipeline across nuclear and public safety, with disciplined execution and balance sheet strength.

Cadre (CDRE)-7 May 25-2025 Q1 Earnings call transcript

- **Record Financials**: 18% revenue growth and 22% EBITDA growth in 2024, driven by Q4 execution excellence.
- **Strategic M&A**: $51M Carr's acquisition expands nuclear safety into automation and robotics, with 80% international revenue.
- **Tariff Risk**: $18-22M annual impact, offset by price adjustments and supply chain diversification.
- **Dividend Growth**: 9% increase reflects financial strength and shareholder returns.
- **2025 Outlook**: 2-5% organic growth, with Q1 at 12-14% EBITDA margin and back-end loaded projects.

**【CEO Opening Remarks】**
- Reported record Q4 and full-year results: 18% revenue growth and 22% adjusted EBITDA growth in 2024.
- Announced acquisition of Carr's Group Engineering division, expanding nuclear safety capabilities into automation, robotics, and nuclear medicine.
- Highlighted financial flexibility with $590M credit facilities and a 9% dividend increase.

**【President (Brad Williams) Business Overview】**
- Q4 execution excellence drove record revenue, gross margin, and EBITDA.
- Emphasized M&A pipeline in nuclear and law enforcement, with Carr's acquisition adding $51M in annual revenue.
- Discussed tailwinds in public safety spending and nuclear modernization, offset by macro uncertainties in 2025.

**【CFO (Blaine Browers) Financial Review】**
- Q4 net sales: $176M (15% YoY), adjusted EBITDA: $38.5M (18.8% margin).
- 2025 guidance: $572-601M revenue (2-5% organic growth), $105-115M EBITDA (5-10% growth).
- Tariff impact estimate: $18-22M annually, with 3-month lag in mitigation.
- Pro forma leverage post-Carr's: ~1.75x, maintaining financial flexibility.

**【Q&A Highlights】**
- **Government Spending Uncertainty**: 20% federal, 50% state exposure; delays in procurement processes, not demand reduction.
- **Tariff Mitigation**: Price adjustments, supply chain diversification, and productivity improvements to offset $18-22M impact.
- **Nuclear Growth**: Carr's acquisition expands TAM into new markets; long-term contracts and recurring orders support stability.
- **2025 Execution**: Q1 expected to be 20% of annual revenue, with stronger second-half project timing similar to 2023.

Actual	-0.19	0.13	-0.3	0.12	0.13	0.17	0.19	0.29	0.29	0.25	0.18	0.31	0.09	0.32	0.23	0.3	0.27	0.27
Forecast	-0.1875	0.1833	0.1967	0.1967	0.2013	0.2138	0.1525	0.175	0.2143	0.1843	0.2383	0.2686	0.0617	0.455	0.12	0.2643	0.2614	0.4
Surprise	-1.33%	-29.08%	-252.52%	-38.99%	-35.42%	-20.49%	+24.59%	+65.71%	+35.32%	+35.65%	-24.46%	+15.41%	+45.87%	-29.67%	+91.67%	+13.51%	+3.29%	-32.50%

CDRE

CDRE fundamentals

CDRE Q4 2025 Earnings

Earnings Call

You can ask Aime

CDRE

CDRE fundamentals

CDRE Q4 2025 Earnings

Earnings Call

CDRE Earnings Call Summary for Q4/202510:00 AM on Mar 11, 2026

CDRE Earnings Call Summary for Q3/202510:00 AM on Nov 5, 2025

CDRE Earnings Call Summary for Q2/202510:00 AM on Aug 6, 2025

CDRE Earnings Call Summary for Q1/202510:00 AM on May 7, 2025

CDRE Earnings Call Summary for Q4/202410:00 AM on Mar 12, 2025

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