Aerospace and defense company Cadre (NYSE:CDRE) will be reporting earnings this Wednesday afternoon. Here’s what to look for.
Cadre beat analysts’ revenue expectations last quarter, reporting revenues of $207.1 million, up 31.8% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Cadre a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cadre’s revenue to grow 22.4% year on year, slowing from the 42.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cadre has missed Wall Street’s revenue estimates multiple times over the last two years.
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’s revenues decreased 45.7% year on year, missing analysts’ expectations by 5.3%, and Huntington Ingalls reported revenues up 10.8%, topping estimates by 5.3%. Byrna traded up 11.6% following the results while Huntington Ingalls was also up 13.5%.
Read our full analysis of Byrna’s results here and Huntington Ingalls’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 27.9% during the same time and is heading into earnings with an average analyst price target of $45.83 (compared to the current share price of $31.58).
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