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 reported strong Q2 2022 results with revenues rising 13% to $222 million and net income increasing 14% to $26 million. The GAAP diluted EPS also grew 14% to $2.24. Bookings surged by 25% to $266 million, setting a record backlog of $379 million. However, operating cash flow fell 58% to $19 million, attributed to increased working capital. Kadant has raised its revenue guidance for 2022 to between $890 million and $905 million, while maintaining GAAP diluted EPS guidance of $10.05 to $10.25.
Kadant Inc. (NYSE: KAI) will release its second quarter results for 2022 after the market closes on August 2, 2022. A webcast discussing the financial performance and future expectations will be held on August 3, 2022, at 11:00 a.m. ET. Investors can access the webcast through the company’s website and must register for the live Q&A session. The earnings release and webcast presentation will be available in the Investors section of the website through September 2, 2022. Kadant specializes in technologies that enhance efficiency in process industries.
Kadant Inc. (NYSE: KAI) has announced a $50 million share repurchase program effective from May 19, 2022, to May 19, 2023. The buyback aims to enhance shareholder value and is contingent on market conditions and compliance with credit agreements established on March 1, 2017. This follows the expiration of a $20 million buyback authorization on May 20, 2022, under which no shares were repurchased. Kadant, based in Westford, Massachusetts, provides technologies that promote sustainable industrial processing.
Kadant Inc. (NYSE: KAI) has announced a quarterly cash dividend of $0.26 per share. This dividend will be paid on August 11, 2022, to shareholders on record as of the close of business on July 14, 2022. The declaration of future dividends is subject to Board approval and may be adjusted based on business needs or market conditions. Kadant is known for its role in enhancing efficiency and maximizing productivity across process industries, employing around 3,000 people in 20 countries.
Kadant Inc. (KAI) reported robust financial results for Q1 2022, with bookings up 30% to $266 million and revenue increasing 31% to $226 million. Operating cash flow rose 24% to $24 million, while net income surged 149% to $41 million, driven by a $15 million gain from a facility sale. Adjusted diluted EPS rose 49% to $2.28. The backlog reached a record $348 million, prompting management to raise 2022 revenue guidance to $885-$905 million from $870-$890 million and GAAP diluted EPS guidance to $10.05-$10.25 from $8.50-$8.70.
Kadant Inc. (NYSE: KAI) will announce its 2022 first quarter results after the market closes on May 3, 2022. A webcast discussing the financial performance and future expectations will follow on May 4, 2022, at 11:00 a.m. ET. Interested parties can access the call through the Company’s website. Kadant specializes in technologies that enhance efficiency and sustainability in industrial processing, employing around 3,000 people across 20 countries.
Kadant Inc. (NYSE: KAI) announced the expansion of its board from six to seven members with the appointment of Rebecca Martinez O’Mara, effective May 1, 2022. Ms. O’Mara brings extensive experience from her roles at Stanley Black & Decker, Grundfos, and Sullair. The company anticipates her background in industrial manufacturing and sustainability will enhance board capabilities. Concurrently, Dr. William P. Tully will resign from the board on January 1, 2023, reducing the board size back to six members. Tully has served since 2010, and the company appreciates his contributions.
Kadant Inc. (NYSE: KAI) has announced an increase in its quarterly cash dividend to $0.26 per share. This dividend will be payable on May 11, 2022, to stockholders of record by the close of business on April 13, 2022. The increase reflects the company’s ongoing commitment to returning value to shareholders, though future dividends remain subject to Board approval and may be adjusted according to market conditions.
Kadant Inc. (NYSE: KAI) reported record financial results for Q4 2021, with revenue up 30% to $219 million and GAAP EPS rising 48% to $2.07. Operating cash flow reached $61 million, a 51% increase, while free cash flow was $56 million, up 47%. For the full year, revenue grew 24% to $787 million, with GAAP diluted EPS increasing 51% to $7.21. The company achieved a record backlog of $310 million, indicating strong demand. Despite challenges from supply chain issues, Kadant remains optimistic about 2022, projecting EPS of $8.50 to $8.70 on revenue of $870 to $890 million.
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