Cadre Holdings Inc

NYSE:CDREUnited States

Nov 6, 2024

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• -- Earnings Flash (CDRE) CADRE HOLDINGS Posts Q3 Revenue $109.4M, from 4:37PM ET on Wednesday Nov 06, 2024 by MT Newswires

  4:37PM ET on Wednesday Nov 06, 2024 by MT Newswires
  Companies Mentioned: CDRE
  04:37 PM EST, 11/06/2024 (MT Newswires) -- ...

• Cadre Holdings Reports Third Quarter 2024 Financial Results, from 4:15PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:15PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: CDRE
  and amortization 15,737 3,763 4,165 12,325 12,385 15,677 Interest expense 4,531 1,991 1,073 5,631 3,727 6,435 Provision for income taxes 14,283 1,335 4,293 8,352 11,463 11,172 ------ ------ ------ ------ ------ ------ EBITDA $73,192 $10,744 $20,584 $49,458 $56,622 $66,028 ====== ====== ====== ====== ====== ====== Add back: Restructuring and transaction costs(1) 3,192 515 439 5,371 1,132 7,431 Other general income(2) (92) -- -- -- -- (92) Other (income) expense, net(3) (936) (1,555) 315 225 (395) (316) Stock-based compensation expense(4) 9,368 2,104 2,208 6,255 7,060 8,563 Stock-based compensation payroll tax expense(5) 234 -- -- 441 220 455 LTIP bonus(6) 860 -- 185 49 489 420 Amortization of inventory step-up(7) -- 1,541 -- 3,851 -- 3,851 Contingent consideration expense(8) -- 176 -- 685 -- 685 ------ ------ ------ ------ ------ ------ Adjusted EBITDA $85,818 $13,525 $23,731 $66,335 $65,128 $87,025 ====== ====== ====== ====== ====== ====== Adjusted EBITDA margin(9) 16.5 % 12.4 % 19.0 % 16.9 % 18.2 % ____________________________ (1) Reflects the "Restructuring and transaction costs" line item on our consolidated statement of operations, which primarily includes transaction costs composed of legal and consulting fees. In addition, this line item reflects a $1.0 million transaction fee payable to Kanders & Company, Inc. for services related to the acquisition of ICOR that was accrued for during the year ended December 31, 2023 and a $1.8 million transaction fee paid to Kanders & Company, Inc. for services related to the acquisition of Alpha Safety for the nine months ended September 30, 2024, which are included in related party expense in the Company's consolidated statements of operations. Kanders & Company, Inc. is a company controlled by Warren B. Kanders, our Chairman of the Board and Chief Executive Officer. (2) Reflects gains from long-lived asset sales. (3) Reflects the "Other income (expense), net" line item on our consolidated statements of operations and primarily includes gains and losses due to fluctuations in foreign currency exchange rates. (4) Reflects compensation expense related to equity and liability classified stock-based compensation plans. (5) Reflects payroll taxes associated with vested stock-based compensation awards. (6) Reflects the cost of a cash-based long-term incentive plan awarded to employees that vests over three years. (7) Reflects amortization expense related to the step-up inventory adjustment recorded as a result of our recent acquisitions. (8) Reflects contingent consideration expense related to the acquisition of ICOR. (9) Reflects Adjusted EBITDA / Net sales for the relevant periods.
  

• Press Release: Cadre Holdings Reports Third Quarter 2024 Financial Results, from 4:15PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:15PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: CDRE
  and amortization 15,737 3,763 4,165 12,325 12,385 15,677 Interest expense 4,531 1,991 1,073 5,631 3,727 6,435 Provision for income taxes 14,283 1,335 4,293 8,352 11,463 11,172 ------ ------ ------ ------ ------ ------ EBITDA $73,192 $10,744 $20,584 $49,458 $56,622 $66,028 ====== ====== ====== ====== ====== ====== Add back: Restructuring and transaction costs(1) 3,192 515 439 5,371 1,132 7,431 Other general income(2) (92) -- -- -- -- (92) Other (income) expense, net(3) (936) (1,555) 315 225 (395) (316) Stock-based compensation expense(4) 9,368 2,104 2,208 6,255 7,060 8,563 Stock-based compensation payroll tax expense(5) 234 -- -- 441 220 455 LTIP bonus(6) 860 -- 185 49 489 420 Amortization of inventory step-up(7) -- 1,541 -- 3,851 -- 3,851 Contingent consideration expense(8) -- 176 -- 685 -- 685 ------ ------ ------ ------ ------ ------ Adjusted EBITDA $85,818 $13,525 $23,731 $66,335 $65,128 $87,025 ====== ====== ====== ====== ====== ====== Adjusted EBITDA margin(9) 16.5 % 12.4 % 19.0 % 16.9 % 18.2 % ____________________________ (1) Reflects the "Restructuring and transaction costs" line item on our consolidated statement of operations, which primarily includes transaction costs composed of legal and consulting fees. In addition, this line item reflects a $1.0 million transaction fee payable to Kanders & Company, Inc. for services related to the acquisition of ICOR that was accrued for during the year ended December 31, 2023 and a $1.8 million transaction fee paid to Kanders & Company, Inc. for services related to the acquisition of Alpha Safety for the nine months ended September 30, 2024, which are included in related party expense in the Company's consolidated statements of operations. Kanders & Company, Inc. is a company controlled by Warren B. Kanders, our Chairman of the Board and Chief Executive Officer. (2) Reflects gains from long-lived asset sales. (3) Reflects the "Other income (expense), net" line item on our consolidated statements of operations and primarily includes gains and losses due to fluctuations in foreign currency exchange rates. (4) Reflects compensation expense related to equity and liability classified stock-based compensation plans. (5) Reflects payroll taxes associated with vested stock-based compensation awards. (6) Reflects the cost of a cash-based long-term incentive plan awarded to employees that vests over three years. (7) Reflects amortization expense related to the step-up inventory adjustment recorded as a result of our recent acquisitions. (8) Reflects contingent consideration expense related to the acquisition of ICOR. (9) Reflects Adjusted EBITDA / Net sales for the relevant periods.