earnings
confidence high
sentiment negative
materiality 0.75
Cadre Q2 net sales $118.2M (+3.2% YoY); adj. EBITDA $18.4M, net income $4.4M down from $6.8M
Cadre Holdings, Inc.
2022-Q2 EPS reported
-$0.16
revenue$222,638,000
- Net sales $118.2M vs $114.6M Q2 2021; gross margin 36.6% vs 42.1% due to mix and inventory step-up.
- Net income $4.4M ($0.12 diluted EPS) vs $6.8M ($0.25); adjusted EBITDA $18.4M vs $20.5M.
- Completed acquisition of Cyalume Technologies for $35.7M cash on May 5, 2022, funded from credit facilities.
- Declared Q3 dividend $0.08/share; secondary offering raised ~$53.6M net ($47M + $6.6M over-allotment).
- Reaffirmed FY2022 guidance: net sales $444-452M, adj. EBITDA $72.5-77.5M, conversion 92-95%.