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Dec 31, 2022
Kadant Q4 2022 Earnings Report
Kadant's Q4 2022 performance was reported, demonstrating revenue growth and increased profitability, although bookings decreased.
Key Takeaways
Kadant reported a 6% increase in revenue to $232 million for Q4 2022. Net income increased by 8% to $26 million, and GAAP diluted EPS also increased by 8% to $2.23. Adjusted EBITDA increased by 10% to $50 million. However, bookings decreased by 7% to $215 million.
Revenue increased by 6% to a record $232 million.
Net income increased by 8% to $26 million.
GAAP diluted EPS increased by 8% to $2.23.
Adjusted EBITDA increased by 10% to $50 million, representing 21.3% of revenue.
Forward Guidance
For 2023, Kadant expects revenue of $900 to $925 million, GAAP diluted EPS of $8.72 to $8.97, and adjusted diluted EPS of $8.80 to $9.05. For the first quarter of 2023, the company expects GAAP diluted EPS of $2.08 to $2.20 on revenue of $217 to $223 million.
Positive Outlook
- Strong backlog at the end of 2022 positions the company well for a solid start to 2023.
- Ongoing project activity is healthy.
- Revenue of $900 to $925 million is expected for 2023.
- GAAP diluted EPS of $8.72 to $8.97 is expected for 2023.
- GAAP diluted EPS of $2.08 to $2.20 is expected for the first quarter of 2023.
Challenges Ahead
- Uncertainty in the latter half of 2023 as central banks work to ease inflationary pressures.
- Moving costs related to the relocation of one of our Chinese facilities, adjusted diluted EPS of $8.80 to $9.05.
- Revenue of $217 to $223 million is expected for the first quarter of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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