Kadant (KAI) Tops Q2 EPS by 19c

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Go back to Kadant (KAI) Tops Q2 EPS by 19c

Kadant Reports Second Quarter 2022 Results

August 2, 2022 5:13 PM EDT

WESTFORD, Mass., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the second quarter ended July 2, 2022.

Second Quarter Financial Highlights

Bookings increased 25% to $266 million.Revenue increased 13% to $222 million.Net income increased 14% to $26 million.GAAP diluted EPS increased 14% to $2.24.Adjusted diluted EPS increased 11% to $2.24.Adjusted EBITDA increased 11% to a record $46 million and represented 20.7% of revenue.Operating cash flow decreased 58% to $19 million.Backlog was a record $379 million.

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