Kadant: Q2 Earnings Snapshot
By AP News
Published - Jul 31, 2024, 03:46 AM ET
Last Updated - Jul 31, 2024, 03:46 AM EDT
WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported second-quarter profit of $31.3 million.
On a per-share basis, the Westford, Massachusetts-based company said it had profit of $2.66. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $2.81 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.43 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $274.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $264.4 million.
