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Jun 27, 2020
Kadant Q2 2020 Earnings Report
Kadant's financial performance declined in the second quarter of 2020 due to pandemic-related challenges and a difficult comparable period, but cash flow remained strong.
Key Takeaways
Kadant reported a decrease in revenue and earnings per share for the second quarter of 2020 compared to the previous year. Revenue decreased by 14% to $153 million, and GAAP diluted EPS decreased by 30% to $1.00. The company's cash flow and balance sheet remained strong, with operating cash flow of $22 million and free cash flow of $21 million.
Bookings decreased 24% to $133 million.
Revenue decreased 14% to $153 million.
GAAP diluted EPS decreased 30% to $1.00.
Adjusted EBITDA decreased 19% to $27 million and represented 17.4% of revenue.
Forward Guidance
Kadant expects the third quarter will be the weakest quarter of the year and anticipates an improvement in business activity in the fourth quarter assuming economies continue to re-open and consumer demand strengthens. However, given the current uncertainty surrounding the timing of the recovery in markets around the world, the company will not be providing guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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