Cadre (US:CDRE)2024-05-07 23:27Q1 2024 Financial Highlights - Net sales for Q1 2024 were $137.9 million[36], compared to $111.7 million in Q1 2023[36] - Adjusted EBITDA for Q1 2024 was $24.5 million[36], a 23% increase year-over-year at guidance midpoint[21] - Adjusted EBITDA margin for Q1 2024 was 17.8%[36], a 120 bps improvement year-over-year[36] - Net income for Q1 2024 was $6.9 million, or $0.18 per diluted share[36] Full Year 2024 Outlook - The company projects net sales to be in the range of $553 million to $572 million[21, 54] - The company projects adjusted EBITDA to be in the range of $104 million to $108 million[21, 54] - Capital expenditures are expected to be between $8 million and $10 million[54] Balance Sheet - Cash and cash equivalents totaled $87.052 million as of March 31, 2024[23, 42] - Total debt, net of capitalized discount/issuance costs, was $215.835 million[23] - Net debt (total debt net of cash) was $128.783 million[23] M&A Activities - Completed acquisitions of ICOR Technology in January and Alpha Safety in March[13] - The company continues to actively evaluate pipeline of M&A opportunities[29]