Kadant to Hold Earnings Conference Call on Wednesday, October 30, 2024
Upcoming Earnings Release: Kadant Inc. will announce its third quarter results on October 29, 2024, followed by a webcast on October 30, 2024, at 11:00 a.m. ET to discuss financial performance and future expectations.
Company Overview: Kadant is a global supplier of technologies for sustainable industrial processing, with around 3,500 employees across 20 countries, focused on enhancing efficiency and productivity in process industries.
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Kadant Enters Agreement to Acquire voestalpine BÖHLER Profil
- Acquisition Agreement: Kadant has announced a definitive agreement to acquire Austria-based voestalpine BÖHLER Profil GmbH & Co KG, expected to close in the first quarter of 2026, marking a strategic expansion in the industrial processing sector.
- Financing Strategy: The acquisition will primarily be financed through Kadant's revolving credit facility, demonstrating the company's flexibility in capital management and financial strategy.
- Business Integration Plan: Upon closing, voestalpine BÖHLER Profil will become part of Kadant's Industrial Processing reporting segment and will be renamed Kadant Profil GmbH & Co KG, which is expected to enhance Kadant's competitive position in high-end industrial applications.
- Focus on Industry Specialization: voestalpine BÖHLER Profil specializes in near-net-shape rolling, delivering high-quality niche solutions, and the acquisition will further enrich Kadant's product offerings to meet the demanding needs of the industrial sector.
Kadant Inc. Reports Lower Q3 Profit, Exceeding Expectations
Earnings Performance: Kadant Inc. reported third-quarter earnings of $27.72 million ($2.35 per share), a decrease from $31.59 million ($2.68 per share) last year, but exceeded analysts' expectations of $2.16 per share.
Adjusted Earnings: Excluding special items, the company posted adjusted earnings of $30.57 million or $2.59 per share for the quarter.
Revenue Comparison: The company's revenue remained relatively stable, falling slightly to $271.57 million from $271.61 million in the previous year.
Future Guidance: Kadant Inc. provided guidance for the next quarter with EPS expected between $2.05 - $2.25 and revenue between $270 million - $280 million, while revising full-year revenue guidance to $1.036 billion - $1.046 billion.
