Kadant (KAI) Tops Q1 EPS by 7c; Raises Revenue Outlook

Kadant (NYSE: KAI) reported Q1 EPS of $1.43, $0.07 better than the analyst estimate of $1.36. Revenue for the quarter came in at $172 million versus the consensus estimate of $170.02 million.

Management Commentary“Our global workforce continued its focus on safely meeting our customers’ needs despite challenging circumstances in many areas of the world,” said Jeffrey L. Powell, president and chief executive officer. “New order activity continued the momentum from the second half of 2020 leading to record bookings and backlog in the first quarter of 2021. Strong demand for parts and consumables as well as a high level of capital project activity in our Industrial Processing and Flow Control segments led to our record-setting performance.

"Solid execution across all our operating segments generated strong cash flows and further improved our liquidity position. As market conditions continue to show signs of improvement, we are optimistic for the remainder of the year, particularly as COVID-19 vaccines become more available.”

GUIDANCE:

Kadant sees FY2021 revenue of $710-730 million, versus the consensus of $704.16 million.

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

You May Also Be Interested In

• Outlook Therapeutics (OTLK) Misses Q3 EPS by 9c
• Acurx Pharmaceuticals (ACXP) Tops Q2 EPS by 4c
• Edible Garden AG (EDBL) Reports Q2 Loss of $18.79