Kadant (KAI) Tops Q3 EPS by 30c; Lowers FY Revenue Outlook
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Kadant Reports Third Quarter 2021 Results and Record Bookings
November 2, 2021 4:22 PM EDTWESTFORD, Mass., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the third quarter ended October 2, 2021.
Third Quarter Financial Highlights
Bookings increased 71% to a record $245 million.Revenue increased 29% to a record $200 million.Operating cash flow increased 56% to $38 million.Free cash flow increased 53% to $35 million.Net income increased 38% to $20 million.GAAP diluted EPS increased 37% to $1.75.Adjusted diluted EPS increased 50% to $1.97.Adjusted EBITDA increased 36% to $41 million and represented 20.5% of revenue.Backlog was... More