Kadant (KAI) Tops Q3 EPS by 34c

Kadant (NYSE: KAI) reported Q3 EPS of $1.31, $0.34 better than the analyst estimate of $0.97. Revenue for the quarter came in at $155 million versus the consensus estimate of $144.48 million.

Summary and Outlook

“Capital projects are showing signs of increasing activity and we expect a solid sequential improvement in our capital bookings in the fourth quarter," Mr. Powell continued. "We also expect demand for our parts and consumables to remain stable as our customers perform year-end maintenance on their equipment. As our business continues to strengthen, we anticipate the benefits we receive from government employee retention programs, primarily in Canada and China, will be lower in the fourth quarter. Our global footprint and the diversity of our product offerings have provided stability as the timing of the market recovery has shown to vary by region and industry. While we have seen a recent strengthening in consumer demand, there is still uncertainty surrounding the timing of the recovery in markets around the world and as a result, we will not be providing guidance at this time.”

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

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