Acquisition and Expansion in Nuclear Sector
Cadre successfully completed the acquisition of the engineering division from Cars, enhancing its nuclear vertical. The acquisition is expected to contribute approximately $46 million in net sales and $6.5 million of EBITDA.
Strong Financial Performance
First-quarter net sales were $130.1 million and adjusted EBITDA was $20.5 million, exceeding expectations. Gross margin improved by 130 basis points year over year.
Increased Orders Backlog
Orders backlog increased by $22.4 million during the quarter, driven primarily by EOD and silo demand.
Dividend Increase
Cadre increased its dividend payments by 9% this year, marking the 14th consecutive dividend increase, reflecting confidence in the business's strength and consistency.
Resilience in Law Enforcement and Nuclear Markets
Despite economic turbulence, Cadre has delivered consistent and stable growth, supported by entrenched positions in favorable industry trends.