Cadre Reports 32% Sales Rise in Q2, Raises Full-Year Outlook

Cadre (NYSE:CDRE) posted second‑quarter net sales of $207.1 million, up 32% year over year, driven by higher demand for armor, duty gear, nuclear products and recent acquisitions. Adjusted EBITDA rose 56% to $?? million and gross profit increased 36% to $87.1 million, with a 120‑basis‑point improvement in gross margin. The company highlighted record backlog growth, especially in explosive ordnance disposal and nuclear safety markets, and announced the acquisition of Alien Gear Holsters.

Guidance for 2026 was lifted, with projected net sales of $749‑$769 million and adjusted EBITDA of $139‑$144 million, implying an EBITDA margin of about 18.6%. CFO Blaine Browers said the outlook reflects the acquisition and stronger demand.

Analyst coverage turned more positive: JPMorgan Chase raised its price target to $45 and gave Cadre an "overweight" rating, while Zacks moved the rating to "hold" and other firms maintained buy or hold stances. The stock traded around $33.42, with a market cap of $1.43 billion and an EPS of $0.26 for the quarter, beating estimates.