Welcome to our dedicated page for Kadant news (Ticker: KAI), a resource for investors and traders seeking the latest updates and insights on Kadant stock.
Kadant Inc., trading under the symbol KAI on the New York Stock Exchange, is a global supplier of high-value, critical components and engineered systems utilized in various process industries worldwide. Headquartered in Westford, Massachusetts, Kadant's products, technologies, and services play a pivotal role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity, particularly in resource-intensive sectors.
Established as an independent public company in 2001, Kadant has a rich history, with some of its business units serving industrial customers for over a century. The company operates through three primary segments:
- Flow Control: This segment includes fluid-handling, doctoring, cleaning, and filtration product lines.
- Industrial Processing: This comprises wood processing and stock-preparation product lines.
- Material Handling Systems: Kadant offers conveyor-belt equipment for industries such as mining, food processing, and packaging.
With a robust presence across North America, South America, Europe, and Asia, Kadant has steadily grown through acquisitions and internal development, cementing its position as a leading supplier in the process industries. The company employs approximately 3,400 people across 20 countries.
In 2023, Kadant reported record financial performance, achieving revenues of $957.7 million, an adjusted EBITDA of $201.3 million, and a free cash flow of $133.7 million. The company's strong financial health is underscored by its consistent growth in revenue and profitability, despite global economic uncertainties.
Kadant continues to innovate and expand its offerings, contributing significantly to sustainable industrial processing. The company's latest projects include advancements in fluid handling, material processing, and enhanced filtration systems, aimed at further improving efficiency and reducing environmental impact.
For the latest updates, Kadant's investors can visit the company's website and access financial reports, earnings calls, and other pertinent information. With a sound strategic vision and a commitment to sustainability, Kadant Inc. remains a crucial player in the industrial processing sector.
Kadant Inc. (NYSE: KAI) has achieved a significant milestone by being named one of America's Most Responsible Companies 2025 by Newsweek magazine for the fifth consecutive year. The recognition is based on the company's performance in Environmental, Social, and Corporate Governance (ESG) factors.
The selection process involved evaluating publicly available key performance indicators from various corporate reports and conducting an independent survey of U.S. citizens regarding their perception of companies' corporate social responsibility activities. Kadant was selected among 600 companies across 14 industry categories that demonstrated the highest scores in corporate responsibility.
Jeffrey L. Powell, president and CEO of Kadant, highlighted the company's commitment to Sustainable Industrial Processing®, noting the positive impact these initiatives have had on their customers. The recognition reinforces Kadant's ongoing dedication to responsible corporate practices and sustainability leadership.
Kadant (NYSE: KAI) has been recognized as one of America's Greenest Companies 2025 by Newsweek magazine, joining a prestigious list of 500 companies acknowledged for their dedication to environmental resource preservation. The recognition highlights Kadant's commitment to Sustainable Industrial Processing®.
Jeffrey L. Powell, president and CEO, emphasized that providing customers with resource-efficient solutions is fundamental to their value proposition, noting that sustainability-driven innovation has enabled Kadant to deliver exceptional value to stakeholders. The ranking process involved analyzing data from both public and private U.S.-based companies.
Kadant Inc. (NYSE: KAI) is hosting its 2024 Investor Day at the Lotte New York Palace Hotel in New York City. The event, themed 'Pioneering Industrial Solutions for a Sustainable Future,' will feature presentations from the company's executive leadership team and business leaders.
The company will demonstrate how its products and services enhance efficiency, optimize energy utilization, and maximize productivity in process industries while supporting customers' sustainability initiatives. The event includes a webcast presentation starting at 11:30 a.m. Eastern Standard Time, accessible through the company's website, with an interactive Q&A session. A replay will be available until December 12, 2025.
Kadant Inc. (NYSE: KAI) has announced its Board of Directors' approval of a quarterly cash dividend of $0.32 per share. The dividend will be paid on February 6, 2025 to stockholders of record as of the close of business on January 9, 2025. The company notes that future dividend declarations will require Board approval and may be adjusted based on business needs or market conditions.
Kadant Inc. (NYSE: KAI) reported strong Q3 2024 financial results with revenue increasing 11% to $272 million and net income rising 2% to $32 million. The company achieved record adjusted EPS of $2.84, up 6% year-over-year, and record adjusted EBITDA of $63 million representing 23.3% of revenue. Operating cash flow increased 12% to $52 million while bookings grew 15% to $240 million. The company narrowed its full-year 2024 revenue guidance to $1.047-$1.055 billion and raised adjusted EPS guidance to $9.93-$10.13.
Kadant Inc. (NYSE: KAI) has announced its upcoming 2024 Investor Day, scheduled for Thursday, December 12, 2024, at the Lotte New York Palace Hotel in New York City. The event will showcase presentations from the company's executive leadership team, focusing on business outlook, growth opportunities, and new five-year financial goals.
A live webcast will commence at 11:30 a.m. eastern time, featuring a question and answer session. The webcast will be accessible through the 'Investors' section on Kadant's website, with a replay available until December 12, 2025.
Kadant Inc. (NYSE: KAI) has scheduled its 2024 third quarter earnings release for Tuesday, October 29, 2024, after market close. The company will host a webcast conference call on Wednesday, October 30, 2024, at 11:00 a.m. eastern time to discuss financial performance and future expectations. Interested participants must register to join the Q&A session. The webcast replay will be available through November 29, 2024, on the company's website.
Kadant Inc. (NYSE: KAI) has been recognized as one of America's Greatest Workplaces for Parents and Families 2024 by Newsweek magazine. This prestigious award, announced on September 9, 2024, is based on over 693,000 reviews and acknowledges 1,000 top U.S. workplaces.
The recognition highlights Kadant's commitment to creating an environment that values employees, their families, and communities. The ranking considers eight key categories: compensation and benefits, training and career progression, working environment, diversity management, company image, sustainability, work-life balance, and corporate culture.
Jeffrey L. Powell, Kadant's president and CEO, emphasized the importance of their people as the company's most valuable resource. He stated that fostering a thriving culture has enabled Kadant to deliver exceptional value to all stakeholders.
Kadant Inc. (NYSE: KAI) has announced a quarterly cash dividend of $0.32 per share. The dividend will be paid on November 7, 2024 to stockholders of record as of the close of business on October 10, 2024. This decision was approved by Kadant's Board of Directors. It's important to note that future dividend declarations are subject to Board approval and may be adjusted based on changing business needs or market conditions. This announcement demonstrates Kadant's commitment to returning value to its shareholders through regular dividend payments.
Kadant Inc. (NYSE: KAI) reported strong financial results for Q2 2024:
- Revenue increased 12% to a record $275 million
- Net income increased 5% to $31.3 million
- GAAP EPS increased 5% to $2.66
- Adjusted EPS increased 11% to a record $2.81
- Adjusted EBITDA was a record $62 million (22.5% of revenue)
- Bookings increased 17% to $252 million
The company raised its full-year 2024 guidance:
- Revenue of $1.045 to $1.065 billion (up from $1.040-$1.065 billion)
- Adjusted EPS of $9.80 to $10.05 (up from $9.75-$10.05)
- GAAP EPS of $9.20 to $9.45
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