Kadant (KAI) Tops Q3 EPS by 35c, Raises FY 2017 Guidance

Kadant (NYSE: KAI) reported Q3 EPS of $1.49, $0.35 better than the analyst estimate of $1.14. Revenue for the quarter came in at $153 million versus the consensus estimate of $141.33 million.

GUIDANCE:

Kadant sees Q4 2017 EPS of $1.02-1.06. Kadant sees Q4 2017 revenue of $143-146 million.

Kadant sees FY 2017 EPS ex-items of $4.37-$4.41. Kadant sees FY 2017 revenue of $509-512 million.

"Guidance“While we began the year with a fairly optimistic outlook, steadily improving global market conditions combined with contributions from our acquisitions and excellent execution by our operations teams have further raised our expectations for 2017,” Mr. Painter continued. “We now expect to report full year revenue of $509 to $512 million, revised from our previous guidance of $488 to $494 million. We expect to achieve GAAP diluted EPS of $3.56 to $3.60 in 2017, revised from our previous guidance of $3.18 to $3.26. The revised 2017 guidance includes pre-tax acquisition costs of $5.0 million, or $0.38 per diluted share, and pre-tax amortization expense associated with acquired profit in inventory and backlog of $6.6 million, or $0.43 per diluted share. Excluding these acquisition-related expenses, we expect adjusted diluted EPS of $4.37 to $4.41 for 2017. For the fourth quarter of 2017, we expect GAAP diluted EPS of $0.87 to $0.91 on revenue of $143 to $146 million, including $0.15 of amortization expense associated with acquired profit in inventory and backlog. Excluding the amortization expense, we expect adjusted diluted EPS of $1.02 to $1.06 for the fourth quarter of 2017.”

For earnings history and earnings-related data on Kadant (KAI) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c
• Diana Shipping withdraws bid to acquire Genco Shipping