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Jul 03, 2021
Kadant Q2 2021 Earnings Report
Achieved record results driven by strong demand and operational execution.
Key Takeaways
Kadant reported record results for the second quarter of 2021, with significant increases in bookings, revenue, operating cash flow, free cash flow, net income, and EPS. The company's performance was driven by a broadening economic recovery and strong demand across all operating segments.
Bookings increased 60% to a record $213 million.
Revenue increased 28% to a record $196 million.
Operating cash flow increased 101% to a record $44 million.
Adjusted EBITDA increased 56% to a record $41 million, representing 21.1% of revenue.
Kadant
Kadant
Forward Guidance
The company is increasing its revenue expectation to $783 to $793 million for 2021.
Positive Outlook
- U.S. continues its robust growth
- Other regions begin to show increasing economic momentum
- Well positioned to capitalize on opportunities
- End market demand will continue to show strength
- Acquisition of the Clouth Group of Companies will further strengthen our revenue performance for the year
Challenges Ahead
- Growing risk the COVID-19 Delta variant
- Supply chain constraints present to near-term economic growth
- Headwinds from supply chain constraints
- Inflationary pressure on material costs
- Variability and difficulty in accurately predicting revenues from large capital equipment and systems projects