Kadant IncKAI
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Q2 earnings and revenue beat estimates, and full-year guidance raised.
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Kadant IncKadant Q2 Earnings Beat Estimates, Raises Full-Year Guidance
Earnings
Kadant reported second-quarter revenue of $312.9 million, beating analyst estimates of $299.2 million and growing 22.6% year over year, while adjusted EPS of $3.42 also topped expectations of $2.77. The company slightly raised its full-year revenue guidance to $1.2 billion at the midpoint from $1.19 billion and lifted adjusted EPS guidance to $12.56 at the midpoint. Management credited strong aftermarket demand and recent acquisitions for the results, despite softness in global capital equipment markets. Analysts on the earnings call focused on project pipeline strength, M&A performance, and capital equipment bookings, with CEO Jeffrey Powell noting improving bookings and a stronger pipeline in packaging, aerospace, and OSB.
Kadant IncQ2 earnings and revenue beat estimates, and full-year guidance raised.