Kadant ( (KAI) ) has released its Q4 earnings. Here is a breakdown of the information Kadant presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Kadant Inc. is a global supplier of technologies and engineered systems designed to enhance efficiency, optimize energy utilization, and increase productivity in process industries, with operations in 20 countries worldwide.
The company recently announced its financial results for the fourth quarter and fiscal year of 2024, showcasing a record-setting year in terms of revenue and adjusted EBITDA, despite some decreases in net income.
In the fourth quarter, Kadant experienced an 8% increase in revenue reaching $258 million, although net income saw a decrease of 12% to $24 million. Adjusted EBITDA rose by 8% to $52 million, with bookings also increasing by 10% to $241 million. For the full fiscal year, revenue hit a record $1.05 billion, up 10%, while adjusted EBITDA reached a record $230 million. However, net income decreased by 4% to $112 million.
The company attributed its strong performance to excellent execution by its businesses and contributions from recent acquisitions, despite facing economic headwinds and unfavorable foreign currency translation effects. The gross margin for the year was 44.3%, slightly impacted by acquisition-related costs.
Looking ahead, Kadant’s management remains optimistic, anticipating favorable project activity and stable demand for aftermarket parts as they enter 2025. The company expects revenue to range between $1.040 to $1.065 billion, with adjusted EPS projected to reach $9.70 to $10.05, while they continue to focus on maximizing customer and shareholder value.
