Kadant ( (KAI) ) has realeased its Q3 earnings. Here is a breakdown of the information Kadant presented to its investors.
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Kadant Inc. is a global supplier of technologies and engineered systems focused on enhancing efficiency in industrial processing. The company is headquartered in Westford, Massachusetts, and operates with approximately 3,500 employees across 20 countries worldwide.
Kadant Inc. recently announced its financial results for the third quarter of 2024, reporting significant growth across several key financial metrics. The company’s revenue grew by 11% to reach $272 million, and it achieved record adjusted earnings per share (EPS) at $2.84.
The third quarter also saw a substantial increase in operating cash flow, up by 12% to $52 million, and a 27% rise in free cash flow, amounting to $48 million. Kadant’s adjusted EBITDA reached a record $63 million, representing 23.3% of revenue. The company credited its recent acquisitions and robust new order activity, particularly in the Americas, for this strong performance.
Looking ahead, Kadant’s management remains optimistic, anticipating increased demand for their capital equipment as customers gear up for projects in 2025. The company has narrowed its revenue guidance for the full year, expecting between $1.047 and $1.055 billion, and revised its GAAP EPS guidance to $9.25-$9.45. Adjusted EPS guidance has been raised to $9.93-$10.13, reflecting the company’s confidence in its strategic initiatives and market position.
