Cadre Holdings Secures FBI Contract for Ballistic Panels
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 02 2026
0mins
Source: seekingalpha
- Contract Awarded: Cadre Holdings' subsidiary Safariland has been selected as the ballistic panel provider for the FBI, responsible for supplying the SX HP ballistic panel, marking a significant expansion in the company's federal law enforcement market.
- Contract Value: The five-year contract is valued at $61 million and falls under an indefinite delivery/indefinite quantity agreement, reflecting the government's ongoing demand for high-performance safety equipment.
- Product Integration: Safariland's SX HP ballistic panel will be integrated into Predictive Ballistics LLC's Overt Armor Kit, enhancing the system's protective capabilities and meeting law enforcement agencies' requirements for high-quality gear.
- Market Strategy: The contract win not only expands Cadre's federal law enforcement business pipeline but also supports its strategy of supplying mission-critical safety equipment to government customers, further solidifying its market position.
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Analyst Views on CDRE
Wall Street analysts forecast CDRE stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 28.750
Low
50.00
Averages
52.67
High
55.00
Current: 28.750
Low
50.00
Averages
52.67
High
55.00
About CDRE
Cadre Holdings, Inc. is engaged in the manufacturing and distribution of safety products. The Company's equipment provides protection to allow users to safely perform their duties and protect those around them in hazardous or life-threatening situations. Its core products include body armor, explosive ordnance disposal equipment, duty gear and nuclear safety products. Its principal body armor product offerings include concealable, corrections and tactical armor, which provide varying levels of protection against ballistic or sharp instrument threats. It offers an engineered portfolio of critical operator survival suits, blast sensors, accessories and vehicle blast attenuation seats for bomb safety technicians, among others. Its engineered products are utilized in over 100 countries by federal, state and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians. Its key brands include Safariland and Med-Eng, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cadre Holdings Secures FBI Contract for Ballistic Panels
- Contract Awarded: Cadre Holdings' subsidiary Safariland has been selected as the ballistic panel provider for the FBI, responsible for supplying the SX HP ballistic panel, marking a significant expansion in the company's federal law enforcement market.
- Contract Value: The five-year contract is valued at $61 million and falls under an indefinite delivery/indefinite quantity agreement, reflecting the government's ongoing demand for high-performance safety equipment.
- Product Integration: Safariland's SX HP ballistic panel will be integrated into Predictive Ballistics LLC's Overt Armor Kit, enhancing the system's protective capabilities and meeting law enforcement agencies' requirements for high-quality gear.
- Market Strategy: The contract win not only expands Cadre's federal law enforcement business pipeline but also supports its strategy of supplying mission-critical safety equipment to government customers, further solidifying its market position.
See More
Cadre Holdings Secures FBI Contract, Highlighting Competitive Strength
- Significant Contract Value: Cadre Holdings' subsidiary Safariland has been selected as the ballistic panel provider for a five-year, $61 million contract with the FBI, underscoring its strong competitive position and market demand in the safety equipment sector.
- Product Innovation Recognition: The Safariland SX™ HP ballistic panel was chosen over 11 competing products after a rigorous evaluation, demonstrating Cadre's ongoing investment in next-generation protective equipment and technological innovation.
- Growing Market Demand: This contract reflects Cadre's growth potential in federal law enforcement business, aligning with the company's strategy to develop highly engineered, mission-critical products that meet stringent market standards.
- Long-Term Growth Outlook: Federal agency contracts typically feature multi-year terms and stable demand driven by equipment modernization cycles, positioning Cadre's products to support sustained growth in the future.
See More
Cadre Exceeds Q1 Revenue Expectations with 19.5% Growth
- Significant Revenue Growth: Cadre reported Q1 2026 revenue of $155.4 million, a 19.5% year-over-year increase that surpassed analyst expectations of $155 million, indicating strong ongoing demand in law enforcement, military, and nuclear safety products.
- Profitability Improvement: The company’s adjusted EPS of $0.18 exceeded analyst estimates of $0.09 by 98.7%, reflecting robust performance in core offerings, although overall operating margin declined.
- Record Backlog: Cadre exited the quarter with a record $355 million in orders backlog, signaling strong future demand, particularly driven by contracts like the General Dynamics deal and contributions from the TIER Tactical acquisition.
- Accelerated Acquisition Strategy: The successful acquisitions of TIER Tactical and Alien Gear Holsters are expected to enhance sales and margins through product synergies and improved market positioning, strengthening Cadre's competitive edge in public safety and nuclear markets.
See More
Cadre Holdings Q1 2026 Earnings Call Insights
- Significant Sales Growth: Cadre Holdings reported Q1 2026 net sales of $155.4 million, reflecting a 19% year-over-year increase, indicating strong market performance and positioning the company to achieve its full-year sales target of $736 million to $758 million.
- Record Backlog: The company ended Q1 with a record backlog of $355 million, which included an organic increase of $108 million from Q4 to Q1, suggesting robust future production capacity and market demand.
- Ongoing Acquisition Strategy: Cadre has deployed over $400 million in targeted M&A since the start of 2024, including the acquisition of TYR Tactical in January and Alien Gear Holsters in April, which are expected to enhance the product range and increase customer wallet share.
- Improving Margin Expectations: Despite facing some market challenges, management anticipates that adjusted EBITDA margins will reach 17.5% in 2026 as sales grow and product mix improves, providing support for the company's future financial health.
See More
Cadre Holdings Reports Decline in Q1 Earnings
- Earnings Decline: Cadre Holdings reported a net income of $1.98 million for Q1, translating to $0.05 per share, a significant drop from $9.25 million and $0.23 per share last year, indicating a notable weakening in profitability.
- Revenue Growth: Despite the earnings decline, the company achieved a 19.5% year-over-year revenue increase to $155.43 million, up from $130.11 million last year, suggesting strong sales performance likely driven by increased market demand.
- Full-Year Guidance: The company provided a full-year revenue guidance of $736 million to $758 million, reflecting management's cautiously optimistic outlook for future performance, aiming to achieve targets despite current profitability challenges.
- Market Reaction: The earnings decline may lead to negative market reactions towards Cadre Holdings, prompting investors to closely monitor how the company addresses profitability challenges and its future growth strategies.
See More
Catawba River Capital Reduces Stake in Cadre Holdings
- Share Reduction Details: Catawba River Capital sold 199,018 shares of Cadre Holdings in Q1 2026, with an estimated transaction value of $7.95 million, indicating a cautious outlook on near-term defense spending growth.
- Stake Proportion Change: Following this sale, Cadre Holdings now represents only 4.03% of Catawba's assets under management, down from 8.3% in the previous quarter, reflecting a reassessment of the company's future performance.
- Financial Performance Overview: Cadre Holdings achieved record adjusted EBITDA for the third consecutive year in 2025, with annual sales rising from $567.6 million to $610.3 million, and gross margin improving from 41.1% to 42.5%, although shares fell due to softer-than-expected revenue and earnings.
- Market Outlook Analysis: While Cadre's underlying business appears strong, long-term investors must consider whether acquisitions and margin improvements can reignite the stock after a year of significant underperformance.
See More
Cadre Holdings Secures FBI Contract for Ballistic Panels
- Contract Awarded: Cadre Holdings' subsidiary Safariland has been selected as the ballistic panel provider for the FBI, responsible for supplying the SX HP ballistic panel, marking a significant expansion in the company's federal law enforcement market.
- Contract Value: The five-year contract is valued at $61 million and falls under an indefinite delivery/indefinite quantity agreement, reflecting the government's ongoing demand for high-performance safety equipment.
- Product Integration: Safariland's SX HP ballistic panel will be integrated into Predictive Ballistics LLC's Overt Armor Kit, enhancing the system's protective capabilities and meeting law enforcement agencies' requirements for high-quality gear.
- Market Strategy: The contract win not only expands Cadre's federal law enforcement business pipeline but also supports its strategy of supplying mission-critical safety equipment to government customers, further solidifying its market position.
See More
Cadre Holdings Secures FBI Contract, Highlighting Competitive Strength
- Significant Contract Value: Cadre Holdings' subsidiary Safariland has been selected as the ballistic panel provider for a five-year, $61 million contract with the FBI, underscoring its strong competitive position and market demand in the safety equipment sector.
- Product Innovation Recognition: The Safariland SX™ HP ballistic panel was chosen over 11 competing products after a rigorous evaluation, demonstrating Cadre's ongoing investment in next-generation protective equipment and technological innovation.
- Growing Market Demand: This contract reflects Cadre's growth potential in federal law enforcement business, aligning with the company's strategy to develop highly engineered, mission-critical products that meet stringent market standards.
- Long-Term Growth Outlook: Federal agency contracts typically feature multi-year terms and stable demand driven by equipment modernization cycles, positioning Cadre's products to support sustained growth in the future.
See More
Cadre Exceeds Q1 Revenue Expectations with 19.5% Growth
- Significant Revenue Growth: Cadre reported Q1 2026 revenue of $155.4 million, a 19.5% year-over-year increase that surpassed analyst expectations of $155 million, indicating strong ongoing demand in law enforcement, military, and nuclear safety products.
- Profitability Improvement: The company’s adjusted EPS of $0.18 exceeded analyst estimates of $0.09 by 98.7%, reflecting robust performance in core offerings, although overall operating margin declined.
- Record Backlog: Cadre exited the quarter with a record $355 million in orders backlog, signaling strong future demand, particularly driven by contracts like the General Dynamics deal and contributions from the TIER Tactical acquisition.
- Accelerated Acquisition Strategy: The successful acquisitions of TIER Tactical and Alien Gear Holsters are expected to enhance sales and margins through product synergies and improved market positioning, strengthening Cadre's competitive edge in public safety and nuclear markets.
See More
Cadre Holdings Q1 2026 Earnings Call Insights
- Significant Sales Growth: Cadre Holdings reported Q1 2026 net sales of $155.4 million, reflecting a 19% year-over-year increase, indicating strong market performance and positioning the company to achieve its full-year sales target of $736 million to $758 million.
- Record Backlog: The company ended Q1 with a record backlog of $355 million, which included an organic increase of $108 million from Q4 to Q1, suggesting robust future production capacity and market demand.
- Ongoing Acquisition Strategy: Cadre has deployed over $400 million in targeted M&A since the start of 2024, including the acquisition of TYR Tactical in January and Alien Gear Holsters in April, which are expected to enhance the product range and increase customer wallet share.
- Improving Margin Expectations: Despite facing some market challenges, management anticipates that adjusted EBITDA margins will reach 17.5% in 2026 as sales grow and product mix improves, providing support for the company's future financial health.
See More
Cadre Holdings Reports Decline in Q1 Earnings
- Earnings Decline: Cadre Holdings reported a net income of $1.98 million for Q1, translating to $0.05 per share, a significant drop from $9.25 million and $0.23 per share last year, indicating a notable weakening in profitability.
- Revenue Growth: Despite the earnings decline, the company achieved a 19.5% year-over-year revenue increase to $155.43 million, up from $130.11 million last year, suggesting strong sales performance likely driven by increased market demand.
- Full-Year Guidance: The company provided a full-year revenue guidance of $736 million to $758 million, reflecting management's cautiously optimistic outlook for future performance, aiming to achieve targets despite current profitability challenges.
- Market Reaction: The earnings decline may lead to negative market reactions towards Cadre Holdings, prompting investors to closely monitor how the company addresses profitability challenges and its future growth strategies.
See More
Catawba River Capital Reduces Stake in Cadre Holdings
- Share Reduction Details: Catawba River Capital sold 199,018 shares of Cadre Holdings in Q1 2026, with an estimated transaction value of $7.95 million, indicating a cautious outlook on near-term defense spending growth.
- Stake Proportion Change: Following this sale, Cadre Holdings now represents only 4.03% of Catawba's assets under management, down from 8.3% in the previous quarter, reflecting a reassessment of the company's future performance.
- Financial Performance Overview: Cadre Holdings achieved record adjusted EBITDA for the third consecutive year in 2025, with annual sales rising from $567.6 million to $610.3 million, and gross margin improving from 41.1% to 42.5%, although shares fell due to softer-than-expected revenue and earnings.
- Market Outlook Analysis: While Cadre's underlying business appears strong, long-term investors must consider whether acquisitions and margin improvements can reignite the stock after a year of significant underperformance.
See More
