Cadre Holdings Lifts 2026 Outlook as Q2 Sales Climb 32% and Adjusted EBITDA Rises 56%
CDRE sits 24% above its 52-week low of $25.73.
Summary
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.
Key Events · Earnings and Guidance · CDRE
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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%.
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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).
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Record Backlog Supports Outlook
Orders backlog hit a record $368M, up $13M sequentially, driven by strong EOD demand and nuclear market activity.
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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.
Analysis · 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.
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In the 30 days to Oct 4, 2026, 36.7% of the 1012 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.64%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CDRE was trading at $32.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $25.73 to $48.76. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.