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 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.
Kadant Inc. (NYSE: KAI) will announce its fourth quarter and full-year 2021 results on February 16, 2022, after market close. A webcast discussing the financial performance and future outlook will be held on February 17, 2022, at 11:00 AM ET. Investors can listen live by visiting the company’s website. A replay will be available until March 18, 2022. Kadant operates globally, supplying critical components and engineered systems for process industries, enhancing efficiency and productivity.
Kadant announced a quarterly cash dividend of $0.25 per share, payable on February 3, 2022, to stockholders on record as of January 6, 2022. The decision reflects the company's ongoing commitment to return value to shareholders. Future dividends will depend on board approval, allowing adjustments based on market conditions and business needs. Kadant operates in over 21 countries and focuses on enhancing process efficiency in resource-intensive industries.
Kadant Inc. (NYSE: KAI) reported strong third-quarter results for 2021, with revenue increasing by 29% to a record $200 million. Bookings rose 71% to $245 million, contributing to a net income increase of 38% to $20 million. Operating cash flow grew by 56% to $38 million, while adjusted diluted earnings per share surged by 50% to $1.97. Despite robust performance, the company adjusted its 2021 revenue forecast down to $778-$783 million due to supply chain constraints and inflationary pressures. The backlog reached a record $299 million, signaling strong future demand.
Kadant Inc. (NYSE: KAI) plans to release its 2021 third quarter results on November 2, 2021, after market close. A webcast discussing financial performance and future expectations will occur on November 3, 2021, at 11:00 a.m. ET. Investors can access the live call via the company’s website and participate in a Q&A session by calling specified numbers. Kadant is a global supplier of critical components and engineered systems for process industries, based in Westford, Massachusetts, with around 2,900 employees across 21 countries.
Kadant Inc. (NYSE: KAI) announced on September 30, 2021, that it achieved its 2021 climate goal of sourcing 100% of its electricity from renewable sources. This initiative involved purchasing renewable energy certificates, eliminating greenhouse gas emissions from electricity usage and reducing its global greenhouse gas footprint by 30% compared to 2020 levels. CEO Jeffrey L. Powell emphasized the company's ongoing commitment to sustainability while helping customers use renewable resources efficiently.
Kadant Inc. (NYSE: KAI) has declared a quarterly cash dividend of $0.25 per share, payable on November 11, 2021, to stockholders of record as of the close of business on October 14, 2021. Future dividends are subject to Board approval and may vary based on market conditions. This announcement emphasizes Kadant's commitment to returning value to shareholders while acknowledging potential risks and uncertainties affecting its business, including those related to the COVID-19 pandemic and global economic conditions.
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