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Sep 28, 2024
Kadant Q3 2024 Earnings Report
Kadant reported a solid third quarter in 2024, marked by strong operational execution and record adjusted EPS.
Key Takeaways
Kadant Inc. reported an 11% increase in revenue to $272 million for Q3 2024. The company achieved a gross margin of 44.7%, and record adjusted EBITDA of $63 million. Net income increased by 2% to $32 million, with GAAP EPS rising by 2% to $2.68 and adjusted EPS increasing by 6% to a record $2.84.
Revenue increased 11% to $272 million.
Adjusted EBITDA was a record $63 million, representing 23.3% of revenue.
GAAP EPS increased 2% to $2.68, while adjusted EPS increased 6% to a record $2.84.
Bookings increased 15% to $240 million.
Kadant
Kadant
Forward Guidance
Kadant expects revenue of $252 to $260 million, GAAP EPS of $1.81 to $2.01 and adjusted EPS of $1.90 to $2.10 for the fourth quarter of 2024.
Positive Outlook
- Demand for capital equipment is expected to gain momentum as customers prepare for 2025 projects.
Challenges Ahead
- Industrial manufacturing sectors in Europe and Asia continue to face significant headwinds.