Kadant (KAI) Tops Q1 EPS by 7c; Raises Revenue Outlook
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Kadant Reports First Quarter 2021 Results and Record Bookings
May 4, 2021 4:31 PM EDTWESTFORD, Mass., May 04, 2021 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the first quarter ended April 3, 2021.
First Quarter Financial Highlights
Bookings increased 16% to a record $204 million.Operating cash flow increased 209% to $19 million.Free cash flow increased 383% to $17 million.Revenue increased 8% to $172 million.GAAP diluted EPS and adjusted diluted EPS both increased 31% to $1.43.Net income increased 32% to $17 million.Adjusted EBITDA increased 14% to $31 million and represented 18.0% of revenue.Backlog was a... More