Kadant (KAI) Tops Q2 EPS by 40c, Beats on Revenue; Offers FY23 Guidance

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Go back to Kadant (KAI) Tops Q2 EPS by 40c, Beats on Revenue; Offers FY23 Guidance

Kadant Reports Second Quarter 2023 Results

August 1, 2023 4:21 PM EDT

WESTFORD, Mass., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the second quarter ended July 1, 2023.

Second Quarter Financial Highlights  

Revenue increased 11% to a record $245 millionBookings decreased 19% to $215 millionOperating cash flow increased 20% to $22 millionNet income increased 14% to $30 millionGAAP EPS increased 13% to $2.54Adjusted EPS increased 13% to a record $2.54Adjusted EBITDA increased 12% to a record $52 million and represented 21.0% of revenueBacklog was $363 million

Note: Percent changes above are... More