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Dec 30, 2023
Kadant Q4 2023 Earnings Report
Kadant reported a solid finish to a record-setting year with revenue up 3% and strong growth in the material handling segment.
Key Takeaways
Kadant Inc. reported its financial results for the fourth quarter and fiscal year ended December 30, 2023. Revenue increased 3% to $239 million. Net income increased 5% to $27 million. GAAP EPS increased 4% to $2.33. Adjusted EPS increased 3% to $2.41.
Revenue increased 3% to $239 million.
Operating cash flow increased 68% to $59 million.
Free cash flow increased 114% to $49 million.
Net income increased 5% to $27 million.
Forward Guidance
The company expects to achieve record revenue, cash flow, and adjusted EBITDA in 2024. For 2024, the company expects revenue of $1.040 billion to $1.065 billion, GAAP EPS of $9.55 to $9.85, and adjusted EPS of $9.75 to $10.05. For the first quarter of 2024, the company expects revenue of $238 to $246 million, GAAP EPS of $1.76 to $1.86 and adjusted EPS of $1.90 to $2.00.
Positive Outlook
- Expects to achieve record revenue in 2024.
- Expects to achieve record cash flow in 2024.
- Expects to achieve record adjusted EBITDA in 2024.
- Healthy demand in key end markets.
- First quarter will be weaker than the remaining quarters of 2024 due to the timing of capital projects.
Challenges Ahead
- Facing economic uncertainties around the world.
- Earnings performance will be affected by increased borrowing costs.
- Earnings performance will be affected by non-cash intangible amortization expense associated with our recently announced acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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