Kadant raises FY24 EPS view to $9.93-$10.13 from $9.80-$10.05, consensus $9.93

Narrows FY24 revenue view to $1.047B-$1.055B from $1.045B-$1.065B, consensus $1.05B. “Our solid performance the past three quarters has positioned us well to finish the year strong,” CEO Jeffrey L. Powell stated. “We expect demand for our capital equipment to gain momentum as our customers prepare for 2025 projects even as the industrial manufacturing sectors in Europe and Asia continue to face significant headwinds. We are narrowing our revenue guidance for the full year to $1.047 to $1.055 billion in 2024, revised from our previous guidance of $1.045 to $1.065 billion, and now expect GAAP EPS of $9.25 to $9.45 in 2024, revised from our previous GAAP EPS guidance of $9.20 to $9.45. We are raising our adjusted EPS guidance for 2024 and now expect $9.93 to $10.13, revised from our previous guidance of $9.80 to $10.05. The 2024 adjusted EPS guidance excludes $0.68 of acquisition-related costs, revised from $0.60 of acquisition-related costs in our previous guidance.