Aerospace and defense company Cadre Holdings (NYSE:CDRE). will be announcing earnings results tomorrow after the bell. Here's what to expect.
Cadre beat analysts' revenue expectations by 7.7% last quarter, reporting revenues of $137.9 million, up 23.4% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' Products revenue estimates.
Is Cadre a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Cadre's revenue to grow 17.3% year on year to $142.1 million, improving from the 2.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.29 per share.
The majority of analysts covering the company have 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 5% on average.
Looking at Cadre's peers in the aerospace and defense segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Axon delivered year-on-year revenue growth of 34.6%, beating analysts' expectations by 5.4%, and AerSale reported revenues up 11.2%, falling short of estimates by 12.7%. Axon traded up 18.3% following the results.
Read our full analysis of Axon's results here and AerSale's results here.
Investors in the aerospace and defense segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Cadre is down 6.6% during the same time and is heading into earnings with an average analyst price target of $41.9 (compared to the current share price of $32.74).
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