Cadre Holdings Lifts 2026 Outlook as Q2 Sales Climb 32% and Adjusted EBITDA Rises 56%

summarizeSummary

Cadre Holdings posted Q2 2026 net sales of $207.1M (+32% YoY) and adjusted EBITDA of $42.0M (+56% YoY), and raised full-year guidance. A record backlog of $368M supports the outlook, but net debt climbed to $320.3M.

check_boxKey Events · Earnings and Guidance · CDRE

• Q2 Sales and Profit Surge

  Net sales rose 32% YoY to $207.1M, while adjusted EBITDA jumped 56% to $42.0M, with the adjusted EBITDA margin expanding 310 bps to 20.3%.

• Full-Year Guidance Raised

  The 2026 net sales outlook was lifted to $749M–$769M (from $736M–$758M) and adjusted EBITDA to $139M–$144M (from $136M–$141M).

• Record Backlog Supports Outlook

  Orders backlog hit a record $368M, up $13M sequentially, driven by strong EOD demand and nuclear market activity.

• Net Debt Surges on M&A

  Net debt increased to $320.3M as of June 30, 2026, from $184.4M at year-end 2025, reflecting $163.9M in business acquisitions during H1 2026.

auto_awesomeAnalysis · CDRE · Industrial Applications And Services

A powerful second quarter saw sales advance 32% to $207.1M and adjusted EBITDA leap 56% to $42.0M, fueled by acquisitions and vigorous demand across nuclear safety, armor, and duty gear. Management raised the full-year forecast, now projecting sales of $749M–$769M and adjusted EBITDA of $139M–$144M. A record $368M orders backlog, up $13M sequentially, points to sustained momentum. Yet net debt swelled to $320.3M from $184.4M at year-end, reflecting aggressive M&A spending — a risk if growth decelerates. The results and guidance increase arrive against a backdrop of recent insider selling by the CEO, which investors will weigh against the operational strength.