Cadre (US:CDRE)2025-05-06 22:23Financial Performance - Net sales for Q1 2025 were $130.1 million, compared to $137.9 million in Q1 2024[33] - Gross margin improved to 43.1% in Q1 2025, a 130 bps increase year-over-year[33] - Net income for Q1 2025 was $9.2 million, or $0.23 per diluted share, compared to $6.9 million, or $0.18 per diluted share in Q1 2024[33] - Adjusted EBITDA for Q1 2025 was $20.5 million, with an adjusted EBITDA margin of 15.8%[33] Acquisition and Outlook - Completed the acquisition of Carr's Engineering division in April 2025 for £75 million[28] - Carr's Engineering division contributed £51 million in revenue for FY 2024[28] - The company reaffirms its 2025 guidance, projecting net sales between $618 million and $648 million and adjusted EBITDA between $112 million and $122 million[41] - The 2025 guidance assumes approximately $46 million in net sales and $6.5 million in EBITDA from the acquired Engineering Division[41] Strategic Objectives - The company continues to execute its strategic objectives and capitalize on favorable market trends[14] - The company is focused on M&A opportunities[43]