Kadant Reports 2018 Second Quarter Results
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Kadant (KAI) Tops Q2 EPS by 7c, Revenues Beat; Lowers FY18 EPS View Due to 'FX & Tariffs,' Boosts FY18 Revenue Outlook
July 30, 2018 4:56 PM EDTKadant (NYSE: KAI) reported Q2 EPS of $1.07, $0.07 better than the analyst estimate of $1.00. Revenue for the quarter came in at $155 million versus the consensus estimate of $149.94 million.
Revenue increased 41% to a record $155 millionGAAP diluted EPS increased 50% to $1.08Adjusted diluted EPS increased 3% to $1.07Net income increased 53% to $12 millionAdjusted EBITDA increased 37% to $26 million and represented 17% of revenueGross margin was 44.0%Bookings increased 47% to $176 millionBacklog increased 8% sequentially to a record $194 millionCash flow from operations increased 20% to $28 million
Management Commentary
The strong start we... More
