Cadre (CDRE) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Company Participants Matthew Berkowitz - Managing DirectorWarren Kanders - Chairman and CEOBrad Williams - PresidentBlaine Browers - CFOGreg Konrad - SVP-Equity Research Conference Call Participants Mark Smith - Senior Research AnalystJeff Van Sinderen - Senior AnalystLarry Solow - Partner & Managing director - Equity AnalystMatthew Koranda - MD & Senior Research Analyst Operator Good morning, and welcome to Cagery Holdings First Quarter twenty twe ...

Cadre (CDRE) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Company Participants Matthew Berkowitz - Managing DirectorWarren Kanders - Chairman and CEOBrad Williams - PresidentBlaine Browers - CFOGreg Konrad - SVP-Equity Research Conference Call Participants Mark Smith - Senior Research AnalystJeff Van Sinderen - Senior AnalystLarry Solow - Partner & Managing director - Equity AnalystMatthew Koranda - MD & Senior Research Analyst Operator Good morning, and welcome to Cagery Holdings First Quarter twenty twe ...

Cadre (CDRE) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Speaker0 Good morning, and welcome to Cagery Holdings First Quarter twenty twenty five Conference Call. Today's call is being recorded. At this time, I would like to turn the conference over to Matt Berkowitz of the IGB Group for introductions and the reading of the Safe Harbor statement. Please go ahead, sir. Speaker1 Thank you, and welcome to today's conference call to discuss Cadre's first quarter results. Before we begin, I'd like to remind eve ...

Cadre Holdings, Inc. (CDRE) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 76.92%. A quarter ago, it was expected that this company would post earnings of $0.48 per share when it actually produced earnings of $0.32, delivering a surprise of -33.33%.Over the last four quarters, the co ...

FIRST QUARTER 2025 FORWARD-LOOKING STATEMENTS Please note that in this presentation we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a numbe ...

Financial Performance - Net sales for Q1 2025 were $130.1 million, a decrease of 5.1% compared to $137.9 million in Q1 2024[20] - Gross profit for Q1 2025 was $56.1 million, resulting in a gross margin of 43.2%, slightly down from 41.7% in Q1 2024[20] - Operating income increased to $13.6 million in Q1 2025, up 13.2% from $12.0 million in Q1 2024[20] - Net income for Q1 2025 was $9.2 million, representing a 33.5% increase from $6.9 million in Q1 2024[20] - Basic net income per share rose to $0.23 in Q1 2025, compared to $0.18 in Q1 2024, reflecting a 27.8% increase[20] - The company reported a comprehensive income of $9.1 million for Q1 2025, compared to $7.3 million in Q1 2024[20] - Adjusted EBITDA for the three months ended March 31, 2025, was $20.5 million, down from $24.5 million in the same period of 2024, representing a decrease of 16.3%[144] - Net income increased by $2.3 million, or 33.5%, to $9.2 million for the three months ended March 31, 2025, primarily due to the non-recurrence of acquisition-related costs incurred in 2024[122][130] Assets and Liabilities - Total current assets increased to $332.5 million as of March 31, 2025, up from $327.6 million at the end of 2024[17] - Total liabilities decreased to $338.7 million as of March 31, 2025, down from $341.2 million at the end of 2024[17] - Cash and cash equivalents at the end of Q1 2025 were $133.4 million, an increase from $124.9 million at the end of 2024[23] - As of March 31, 2025, total shareholders' equity increased to $317,562, up from $311,515 on December 31, 2024, reflecting a growth of approximately 1.7%[24] - Outstanding debt as of March 31, 2025, was $220.5 million, a slight decrease from $223.2 million as of December 31, 2024[149] - As of March 31, 2025, total long-term debt, net of unamortized debt discount and issuance costs, was $209,134,000, a slight decrease from $211,830,000 as of December 31, 2024[73] Cash Flow - Net cash provided by operating activities was $17.4 million in Q1 2025, significantly higher than $2.1 million in Q1 2024[23] - Net cash used in investing activities was $1.3 million for the three months ended March 31, 2025, significantly lower than $142.6 million in the same period of 2024, which included acquisitions[171] - The company paid dividends of $3.9 million during the three months ended March 31, 2025[172] Acquisitions and Investments - The company completed the acquisition of ICOR Technology Inc. for a total consideration of $41,508,000, which includes $2,226,000 in contingent consideration[51] - The acquisition of Alpha Safety Intermediate, LLC was completed for a total consideration of $102,531,000, with goodwill recognized at $49,133,000[57] - The Company acquired Carr's Engineering Limited and Carr's Engineering (US), Inc. for approximately $99,750 in April 2025[112] - The Company drew $97,500 of the $115,000 available under the DDTL- A-1 Facility in connection with the acquisition of the Nuclear Engineering Division[114] Segment Performance - Net sales for the Product segment were $112,735 and for the Distribution segment were $27,862 for the three months ended March 31, 2025, totaling $130,106[111] - The Product segment net sales decreased by $6.1 million, or 5.1%, to $112.7 million for the three months ended March 31, 2025, primarily due to decreases in explosive ordnance disposal and armor products[132] - The Distribution segment net sales decreased by $0.3 million, or 1.2%, to $27.9 million for the three months ended March 31, 2025, primarily due to decreased demand for hard goods[132] Expenses and Costs - Cost of goods sold for the Product segment decreased by $5.2 million, or 7.6%, to $62.6 million for the three months ended March 31, 2025[133] - Selling, general and administrative expenses increased by $1.0 million, or 2.5%, for the three months ended March 31, 2025, primarily due to recent acquisitions[134] - Interest expense increased by $0.6 million, or 36.3%, to $2.2 million for the three months ended March 31, 2025, primarily due to debt refinancing[136] Tax and Compliance - The effective tax rate for the three months ended March 31, 2025, was 26.6%, higher than the statutory rate due to state taxes and non-deductible executive compensation[99] - The effective tax rate for the three months ended March 31, 2025, was 26.6%, compared to 22.1% for the same period in 2024[137] - The company follows U.S. GAAP for financial reporting, ensuring compliance with SEC regulations and maintaining transparency in financial statements[26] Market and Risk Factors - A 10% increase or decrease in the value of the Canadian dollar would have caused reported net sales to increase or decrease by approximately $0.9 million for the three months ended March 31, 2025[190] - A 10% increase or decrease in the value of the Mexican peso would have caused reported net income to increase or decrease by approximately $0.5 million for the same period[190] - There have been no material changes in market risk exposures as of March 31, 2025[182] Internal Controls and Governance - The company's disclosure controls and procedures were deemed effective as of March 31, 2025[191] - No changes in internal control over financial reporting occurred during the three months ended March 31, 2025[192]

Exhibit 99.1 Cadre Holdings Reports First Quarter 2025 Financial Results Capitalizes on Continued Strong Demand for Mission Critical Safety Equipment Completes Acquisition of Multiple Leading Nuclear Brands, Expanding Geographic Footprint Increased Guidance Reflects Completed Acquisition and Reaf irmed Organic Growth Expectations 2025 Outlook: Net Sales of $618 to $648 Million and Adjusted EBITDA of $112 to $122 Million JACKSONVILLE, Fla., May 6, 2025 – Cadre Holdings, Inc. (NYSE: CDRE) ("Cadre" or "Company ...

Cadre (CDRE) Q4 2024 Earnings Call March 12, 2025 07:47 PM ET Company Participants Matthew Berkowitz - Managing DirectorWarren Kanders - Chairman and CEOBrad Williams - PresidentBlaine Browers - CFOSheila Kahyaoglu - Managing Director Conference Call Participants Larry Solow - Partner & Managing director - Equity AnalystJeff Van Sinderen - Senior AnalystMatthew Koranda - MD & Senior Research AnalystMark Smith - Senior Research Analyst Operator Good morning, and welcome to Cadre Holdings Fourth Quarter of tw ...

Cadre Holdings, Inc. (NYSE:CDRE) Q4 2024 Earnings Conference Call March 12, 2025 10:00 AM ET Company Participants Matt Berkowitz - Investor Relations, IGB Group Warren Kanders - Chief Executive Officer and Chairman Brad Williams - President Blaine Browers - Chief Financial Officer Conference Call Participants Lawrence Solow - CJS Securities Jeff Van Sinderen - B. Riley Securities Sheila Kahyaoglu - Jefferies Matt Koranda - ROTH Capital Mark Smith - Lake Street Capital Markets Operator Good morning and welco ...

FOURTH QUARTER 2024 FORWARD-LOOKING STATEMENTS Please note that in this presentation we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a numb ...