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Oct 01, 2022
Kadant Q3 2022 Earnings Report
Kadant reported strong revenue and earnings performance despite macroeconomic challenges.
Key Takeaways
Kadant's Q3 2022 results showed a 12% increase in revenue to $225 million, a 34% increase in net income to $27 million, and a 21% increase in adjusted diluted EPS to a record $2.38. Despite macroeconomic headwinds, the company delivered solid execution and excellent contributions across all operating segments.
Revenue increased 12% to $225 million.
Net income increased 34% to $27 million.
GAAP diluted EPS increased 34% to $2.35.
Adjusted EBITDA increased 17% to a record $48 million, representing 21.3% of revenue.
Forward Guidance
Kadant is narrowing its revenue and adjusted diluted EPS guidance. The company now expects revenue of $890 to $896 million and GAAP diluted EPS of $10.02 to $10.19 for 2022. For the fourth quarter of 2022, the company expects GAAP diluted EPS of $1.90 to $2.07 on revenue of $217 to $223 million.
Positive Outlook
- Well positioned to finish the year strong.
- Significant amount of capital projects to deliver in the upcoming quarter.
- Backlog remains at a near-record level.
Challenges Ahead
- Expect macroeconomic headwinds to strengthen.
- Order activity to continue to moderate through the remainder of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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