Aerospace and defense company Cadre (NYSE: CDRE) will be announcing earnings results tomorrow afternoon. Here’s what to look for.
Cadre beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $176 million, up 41.3% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations.
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 decline 8.5% year on year to $126.2 million, a reversal from the 23.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 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 missed Wall Street’s revenue estimates twice over the last two years.
Looking at Cadre’s peers in the aerospace and defense segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Byrna delivered year-on-year revenue growth of 57.3%, meeting analysts’ expectations, and CACI reported revenues up 11.8%, topping estimates by 1.5%. Byrna traded up 8.2% following the results while CACI was also up 7.9%.
Read our full analysis of Byrna’s results here and CACI’s results here.
There has been positive sentiment among investors in the aerospace and defense segment, with share prices up 13% on average over the last month. Cadre is up 5.1% during the same time and is heading into earnings with an average analyst price target of $42 (compared to the current share price of $29.74).
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