Cadre Holdings, Inc. (NYSE:CDRE) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET
Company Participants
Matt Berkowitz - IGB Group
Warren Kanders - Chairman & Chief Executive Officer
Brad Williams - President
Blaine Browers - Chief Financial Officer
Conference Call Participants
Jeff Van Sinderen - B. Riley
Matt Koranda - ROTH MKM
Mark Smith - Lake Street
Operator
Good afternoon, and welcome to the Cadre Holdings First Quarter 2024 Conference Call. Today's call is being recorded. All lines have been placed on mute. [Operator Instructions].
At this time, I would like to turn the conference over to Matt Berkowitz of the IGB Group for introductions and the reading of the safe harbor statement. Please go ahead, sir.
Matt Berkowitz
Thank you, and welcome to today's conference call to discuss Cadre's first quarter results. Before we begin, I would like to remind everyone that during today's call, we will be making several forward-looking statements, and we make these statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our best estimates and assumptions based on our understanding of information known to us today. These forward-looking statements are subject to the risks and uncertainties that face Cadre and industries and markets in which we operate.
More information on potential factors that could affect Cadre's financial results is included from time to time in Cadre public reports filed with the Securities and Exchange Commission. Please also note that we have posted presentation materials on our website at www.cadre-holdings.com, which supplement our comments this evening and include a reconciliation of certain non-GAAP financial measures.
I would like to remind everyone that this call will be available for replay through May 21, 2024, starting at 8 p.m. Eastern Time tonight. A webcast replay will also be available via the link provided in today's press release as well as on Cadre's website.
At this time, I would like to turn the call over to Cadre's Chairman and CEO, Warren Kanders.
Warren Kanders
Good afternoon, and thank you for joining Cadre's earnings call to discuss our results for the first quarter of 2024. I am joined today by our President, Brad Williams; and Chief Financial Officer, Blaine Browers.
Following a year of record net sales and adjusted EBITDA, our significant momentum continued in the first quarter. Driven by the team's outstanding strategic execution, together with strong sustained demand for our mission-critical safety equipment. We generated first quarter net sales and adjusted EBITDA that were the highest in our history and represented increases of 23% and 32%, respectively.