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Kadant ( (KAI) ) has shared an update.
Kadant Inc. reported strong financial results for the third quarter of 2024, with revenue increasing 11% to $272 million and a record adjusted EBITDA of $63 million. The company saw significant growth in bookings, driven by recent acquisitions and robust new order activity in the Americas. Despite challenges in Europe and Asia, Kadant’s aftermarket parts business thrived, contributing to record adjusted EPS and margin performance. The company expects continued demand for its capital equipment as it narrows its revenue and EPS guidance for the year.
For an in-depth examination of KAI stock, go to TipRanks’ Stock Analysis page.
