Kadant reports Q1 adjusted EPS $2.38, consensus $1.88

Reports Q1 revenue $249M, consensus $246.11M. “We had a solid start to 2024 with record revenue and strong adjusted EBITDA and adjusted EPS in the first quarter,” said Jeffrey Powell, CEO of Kadant. “Our most recent acquisitions are performing well and contributed to our record revenue, as did a notably strong performance by our Industrial Processing segment. Our aftermarket parts revenue was up 13% in the first quarter and comprised 69% of our total revenue. The strength in aftermarket parts enabled us to offset flat capital equipment revenue caused by the general slowdown of manufacturing activity in some regions of the world, including Europe and Asia.”