Matthew Koranda's questions to Cadre Holdings Inc (CDRE) leadership • Q2 2025
Question
Matthew Koranda from Roth Capital Partners, LLC asked for an update on the Cars acquisition integration, specifically regarding any identified commercial synergies and their potential timing. He also questioned if the revised EBITDA guidance implies lower margins due to the nature of the delayed projects.
Answer
President Brad Williams explained it's still early in the Cars integration process, but leadership teams have identified five potential commercial synergy areas to explore, leveraging cross-brand relationships and product positions. CFO Blaine Browers confirmed that the lower implied margin in the revised EBITDA guidance is due to some of the delayed large opportunities having a better-than-average margin mix.