Cadre Hldgs Inc - CDRE STOCK NEWS

Cadre Holdings (NYSE: CDRE), a global manufacturer and distributor of safety equipment for law enforcement, first responders, military, and nuclear markets, has announced a quarterly cash dividend declaration. The company's Board of Directors has approved a dividend of $0.095 per share, equivalent to $0.38 per share annually.

The dividend will be paid on May 16, 2025 to shareholders of record as of May 2, 2025. Future dividend declarations remain subject to the Board of Directors' discretion.

Cadre Holdings (NYSE: CDRE) has completed its acquisition of Carr's Engineering Division for an enterprise value of £75 million. The acquisition includes industry-leading brands such as Wälischmiller GmbH, CarrsMSM, Bendalls Engineering, NW Total Engineered Solutions, and NuVision Engineering, but excludes Chirton Engineering.

The transaction was funded through incremental term debt, aligned with Cadre's amended and restated credit facility from December 2024. The acquisition strengthens Cadre's position in the nuclear safety sector and expands its international market presence while providing entry into new product categories.

Cadre Holdings (NYSE: CDRE) reported strong financial results for Q4 and full year 2024. The company achieved annual net sales of $567.6 million, up from $482.5 million in 2023, with a gross margin of 41.1%. Net income reached $36.1 million ($0.90 per diluted share) for 2024.

Q4 2024 highlights include net sales of $176.0 million, gross profit margin of 43.9%, and net income of $13.0 million. The company generated record Adjusted EBITDA of $104.8 million for the year, with an improved margin of 18.5%.

Looking ahead, Cadre expects 2025 net sales between $572-601 million and Adjusted EBITDA of $105-115 million. The company expanded its credit facilities to $590 million and increased its quarterly dividend by 8.6% to $0.095 per share. Additionally, Cadre announced the acquisition of Carr's Engineering Division for £75 million to strengthen its nuclear safety business.

Cadre Holdings (NYSE: CDRE), a global manufacturer and distributor of safety equipment for law enforcement, first responders, military and nuclear markets, has scheduled its Q4 and Full Year 2024 earnings release for March 11, 2025, after market close.

The company will host a conference call on March 12, 2025, at 10:00 a.m. ET to discuss the results and present its 2025 financial guidance. The call will feature CEO Warren Kanders, President Brad Williams, and CFO Blaine Browers.

Participants can join via phone at (800)-715-9871 (domestic) or (646)-307-1963 (international) using passcode 3272793, or through a live webcast on Cadre's website. A replay will be available until March 26, 2025.

Cadre Holdings (NYSE: CDRE) has announced a quarterly dividend increase to $0.095 per share, representing a 9% increase on an annualized basis from $0.35 to $0.38 per share. The dividend will be paid on February 14, 2025 to shareholders of record as of January 31, 2025.

The company, which specializes in manufacturing and distributing safety equipment for law enforcement, first responders, military, and nuclear markets, attributes this increase to strong free cash flow generation. CEO Warren B. Kanders emphasized that this decision reflects confidence in the company's fundamentals while maintaining support for organic growth and M&A objectives.

Cadre Holdings (NYSE: CDRE) has announced a definitive agreement to acquire the Engineering Division from Carr's Group for £75 million in cash. The acquisition includes multiple nuclear brands such as Wälischmiller GmbH, CarrsMSM, Bendalls Engineering, NW Total, and NuVision Engineering.

The Engineering Division, which generated £51 million in revenue for FY ended August 31, 2024, operates across the UK, Germany, and US. It specializes in designing, manufacturing, and servicing equipment for nuclear end-markets. The division is divided into three segments: Robotics (Wälischmiller GmbH and CarrsMSM), UK Engineering (Bendalls Engineering and NW Total), and US Engineering (NuVision Engineering).

The transaction is expected to close in H1 2025, funded through available cash and credit facility. The acquisition will expand Cadre's international presence and provide entry into new nuclear safety categories including automation, robotics, and nuclear medicine.

Cadre Holdings (NYSE: CDRE) has announced the appointment of Gianmaria Delzanno to its board of directors, effective January 13, 2025. He will replace retiring director Nicholas Sokolow as lead independent director and Chairman of the Nominating and Corporate Governance Committee, while also serving on the Audit and Compensation Committees.

Delzanno brings over 40 years of experience in M&A, corporate financing, and private equity. He has been President of Delzanno & Co. Inc. since 1996, previously held positions at Schroder Wertheim & Co. and S.G. Warburg & Co., and has extensive board experience across various industries. The appointment aligns with Cadre's M&A-focused growth strategy, leveraging Delzanno's expertise in mergers, acquisitions, and corporate finance.

Cadre Holdings (NYSE: CDRE) has secured new credit facilities totaling $590 million with a five-year maturity. The financing package includes a $175 million undrawn revolving credit facility, a $225 million term loan, and two delayed draw term loans of $115 million and $75 million.

The company plans to use the revolving credit facility and term loan for working capital, general corporate purposes, and refinancing existing debt. The delayed draw term loans will support acquisition activities, with the $115 million facility available for six months and the $75 million facility for eighteen months.

Combined with $93.0 million in cash and equivalents as of September 30, 2024, Cadre now has approximately $458.0 million of capital for growth objectives.

Cadre Holdings (NYSE: CDRE) reported Q3 2024 financial results with net sales of $109.4 million, down from $125.1 million in Q3 2023, primarily due to cybersecurity incidents in July and September 2024. Net income was $3.7 million ($0.09 per diluted share), compared to $11.1 million in Q3 2023. Gross profit margin decreased to 36.6% from 42.8% year-over-year. The company modified its full-year 2024 guidance, now expecting net sales between $560-571 million and Adjusted EBITDA of $101-107 million. A quarterly dividend of $0.0875 per share was declared.