Kadant (KAI) Tops Q1 EPS by 22c, Beats on Revenue; Offers FY23 Guidance
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Kadant Reports First Quarter 2023 Results
May 2, 2023 4:32 PM EDTWESTFORD, Mass., May 02, 2023 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the first quarter ended April 1, 2023.
First Quarter Financial Highlights Â
Bookings increased 3% to a record $275 millionOperating cash flow increased 55% to $37 millionRevenue increased 1% to $230 millionNet income decreased 32% to $28 millionGAAP EPS decreased 32% to $2.40Adjusted EPS increased 5% to a record $2.40Adjusted EBITDA increased 6% to $49 million and represented 21.1% of revenueBacklog was a record $393 millionNote: Percent changes above are... More
