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Kadant: Q1 Earnings Snapshot
By AP News - May 02, 2023, 05:24 PM ET
Last Updated - Jun 21, 2023, 11:44 PM EDT
WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported first-quarter earnings of $28.1 million.
The Westford, Massachusetts-based company said it had profit of $2.40 per share.
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The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $229.8 million in the period.
For the current quarter ending in June, Kadant expects its per-share earnings to range from $2.05 to $2.15.
The company said it expects revenue in the range of $230 million to $235 million for the fiscal second quarter.
Kadant expects full-year earnings in the range of $8.90 to $9.15 per share, with revenue ranging from $910 million to $935 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a KAI">Zacks stock report on KAI at https://www.zacks.com/ap/KAI
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