Kadant (KAI) Tops Q1 EPS by 18c, Offers Guidance
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Kadant Reports First Quarter 2022 Results
May 3, 2022 4:46 PM EDTWESTFORD, Mass., May 03, 2022 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the first quarter ended April 2, 2022.
First Quarter Financial Highlights
Bookings increased 30% to a record $266 million.Revenue increased 31% to a record $226 million.Operating cash flow increased 24% to $24 million.Free cash flow increased 24% to $21 million.Net income was $41 million, including a $15 million after-tax gain on the sale of a facility.GAAP diluted EPS increased 147% to $3.53.Adjusted diluted EPS increased 49% to $2.28.Adjusted EBITDA increased 41% to a... More