Cadre posts Q1 revenue growth, record backlog as margins pressure CDRE shares

Cadre Holdings Inc. (NYSE: CDRE) reported first-quarter 2026 revenue of $155.4 million, up 19.5% from a year earlier and in line with Wall Street estimates, while adjusted earnings of $0.18 a share topped consensus by 98.7%. Shares traded at $27.24 after the report, down from $31.42 before earnings. The aerospace and defense supplier guided full-year revenue to $747 million at the midpoint, 0.9% above analysts’ estimates. Management cited recurring demand across law enforcement, military and nuclear safety products, along with a record orders backlog, including an $87 million blast attenuation seat contract. Margin pressure weighed on results, with management pointing to unfavorable product mix in armor and nuclear products and softness in third-party discretionary distribution items. Cadre said 2026 growth will depend on backlog conversion, integration of TIER Tactical and Alien Gear Holsters, and demand tied to government defense and nuclear budgets.