Aerospace and defense company Cadre (NYSE: CDRE) will be announcing earnings results this Tuesday afternoon. Here’s what to look for.
Cadre beat analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $157.1 million, up 8.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and full-year EBITDA guidance missing analysts’ expectations.
Is Cadre a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Cadre’s revenue to grow 46.5% year on year to $160.2 million, a reversal from the 12.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cadre has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.4% on average.
Looking at Cadre’s peers in the aerospace and defense segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byrna delivered year-on-year revenue growth of 35.1%, meeting analysts’ expectations, and RTX reported revenues up 11.9%, topping estimates by 5.4%. Byrna traded up 15.6% following the results while RTX was also up 10.8%.
Read our full analysis of Byrna’s results here and RTX’s results here.
Investors in the aerospace and defense segment have had steady hands going into earnings, with share prices flat over the last month. Cadre is up 13.8% during the same time and is heading into earnings with an average analyst price target of $43 (compared to the current share price of $42.70).
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