Kadant (KAI) Tops Q2 EPS by 32c

Kadant (NYSE: KAI) reported Q2 EPS of $1.06, $0.32 better than the analyst estimate of $0.74. Revenue for the quarter came in at $152.9 million versus the consensus estimate of $150.01 million.

Summary and Outlook

“Our decentralized structure and global footprint combined with our strong aftermarket business have provided stability in this environment,” Mr. Powell continued. “We were pleased with the solid execution by our divisions, resulting in $21 million of free cash flow for the second quarter further strengthening our liquidity position. Looking ahead, we expect the third quarter will be our weakest quarter of the year and are anticipating an improvement in business activity in the fourth quarter assuming economies continue to re-open and consumer demand strengthens. However, given the current uncertainty surrounding the timing of the recovery in markets around the world, we will not be providing guidance at this time. Despite this, the underlying fundamentals of our markets and our business remain strong.”

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

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