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Oct 02, 2021
Kadant Q3 2021 Earnings Report
Reported record revenue and bookings with strong performance driven by excellent execution and end-market demand.
Key Takeaways
Kadant reported a strong third quarter with record revenue and bookings. Revenue increased by 29% to $200 million, and bookings increased by 71% to $245 million. Net income increased by 38% to $20 million, and adjusted EBITDA increased by 36% to $41 million.
Bookings increased 71% to a record $245 million.
Revenue increased 29% to a record $200 million.
Operating cash flow increased 56% to $38 million.
Adjusted EBITDA increased 36% to $41 million and represented 20.5% of revenue.
Kadant
Kadant
Forward Guidance
The company is decreasing its revenue expectation to $778 to $783 million for 2021 from its previous range of $783 to $793 million due to supply chain constraints, delays in shipments, and the timing of capital orders.
Positive Outlook
- Strong momentum built up during the first three quarters of 2021 has led to record backlog.
- Expect a solid finish to the year.
- See strong demand for our products.
Challenges Ahead
- Supply chain constraints
- Delays in shipments
- Timing of capital orders are moderating our outlook for the fourth quarter.