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Jul 02, 2022
Kadant Q2 2022 Earnings Report
Kadant's performance continued strongly into the second quarter with outstanding bookings and record adjusted EBITDA.
Key Takeaways
Kadant reported a strong second quarter with a 13% increase in revenue to $222 million and a 14% increase in net income to $26 million. Bookings increased 25% to $266 million, and adjusted EBITDA reached a record $46 million.
Bookings increased 25% to $266 million.
Revenue increased 13% to $222 million.
Net income increased 14% to $26 million.
Adjusted EBITDA increased 11% to a record $46 million, representing 20.7% of revenue.
Forward Guidance
The company is raising the lower end of its revenue guidance and now expects revenue of $890 to $905 million in 2022. For the third quarter of 2022, the company expects GAAP diluted EPS of $1.99 to $2.09 on revenue of $211 to $218 million.
Positive Outlook
- Good levels of project activity despite ongoing macroeconomic challenges.
- Record backlog positions the company well for the year.
- Revenue guidance raised to $890 to $905 million for 2022.
- Expects adjusted diluted EPS of $8.80 to $9.00 for 2022.
- Maintaining GAAP diluted EPS guidance of $10.05 to $10.25.
Challenges Ahead
- Expect industrial demand to moderate as consumer demand slows.
- Negative effect from foreign currency translation, lowering revenue guidance by $45 million.
- Negative effect from foreign currency translation, lowering adjusted diluted EPS guidance by $0.49.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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