Kadant (KAI) Tops Q3 EPS by 22c

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Go back to Kadant (KAI) Tops Q3 EPS by 22c

Kadant Reports Third Quarter 2022 Results

November 1, 2022 4:37 PM EDT

WESTFORD, Mass., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) reported its financial results for the third quarter ended October 1, 2022.

Third Quarter Financial Highlights

Revenue increased 12% to $225 million.Bookings decreased 14% to $211 million.Net income increased 34% to $27 million.GAAP diluted EPS increased 34% to $2.35.Adjusted diluted EPS increased 21% to a record $2.38.Adjusted EBITDA increased 17% to a record $48 million and represented 21.3% of revenue.Operating cash flow decreased 34% to $25 million.Backlog was $350 million.

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