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Kadant Inc. - KAI STOCK NEWS

Welcome to our dedicated page for Kadant news (Ticker: KAI), a resource for investors and traders seeking the latest updates and insights on Kadant stock.

Kadant Inc., trading under the symbol KAI on the New York Stock Exchange, is a global supplier of high-value, critical components and engineered systems utilized in various process industries worldwide. Headquartered in Westford, Massachusetts, Kadant's products, technologies, and services play a pivotal role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity, particularly in resource-intensive sectors.

Established as an independent public company in 2001, Kadant has a rich history, with some of its business units serving industrial customers for over a century. The company operates through three primary segments:

  • Flow Control: This segment includes fluid-handling, doctoring, cleaning, and filtration product lines.
  • Industrial Processing: This comprises wood processing and stock-preparation product lines.
  • Material Handling Systems: Kadant offers conveyor-belt equipment for industries such as mining, food processing, and packaging.

With a robust presence across North America, South America, Europe, and Asia, Kadant has steadily grown through acquisitions and internal development, cementing its position as a leading supplier in the process industries. The company employs approximately 3,400 people across 20 countries.

In 2023, Kadant reported record financial performance, achieving revenues of $957.7 million, an adjusted EBITDA of $201.3 million, and a free cash flow of $133.7 million. The company's strong financial health is underscored by its consistent growth in revenue and profitability, despite global economic uncertainties.

Kadant continues to innovate and expand its offerings, contributing significantly to sustainable industrial processing. The company's latest projects include advancements in fluid handling, material processing, and enhanced filtration systems, aimed at further improving efficiency and reducing environmental impact.

For the latest updates, Kadant's investors can visit the company's website and access financial reports, earnings calls, and other pertinent information. With a sound strategic vision and a commitment to sustainability, Kadant Inc. remains a crucial player in the industrial processing sector.

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Kadant (NYSE: KAI) has acquired Dynamic Sealing Technologies (DSTI) for approximately $55 million in cash, with financing from its revolving credit facility. DSTI, based in Andover, Minnesota, specializes in engineered fluid sealing and transfer solutions for rotating applications, serving industries like defense, energy, medical, and factory automation. The acquisition, which includes DSTI's $25 million revenue for the twelve months ending March 31, 2024, will expand Kadant's Flow Control segment. Both Kadant's CEO, Jeffrey L. Powell, and DSTI's president, Jeffrey S. Meister, expressed enthusiasm about the integration. A conference call will be held on June 4, 2024, to discuss the acquisition further.

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Kadant (NYSE: KAI) has announced that its Board of Directors has authorized a share repurchase program of up to $50 million, effective from May 16, 2024, through May 16, 2025. This allows the company to buy back its equity securities in public or private transactions, including those under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and volume of the repurchases will depend on market conditions, credit agreement limitations, and other factors. Notably, the company has yet to repurchase any shares under the current $50 million authorization expiring on May 18, 2024.

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Kadant (NYSE: KAI) has announced a quarterly cash dividend of $0.32 per share, approved by its Board of Directors.

The dividend is scheduled to be paid on August 8, 2024, to stockholders recorded by the close of business on July 11, 2024.

Future dividends will be subject to the Board's approval and may change according to business needs or market conditions.

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Kadant Inc. reported a record revenue of $249 million in the first quarter of 2024, marking an 8% increase year over year. However, the company saw a decrease in net income and EPS, with operating cash flow falling by 38%. The aftermarket parts segment performed well, offsetting flat capital equipment revenue. Kadant maintains revenue and EPS guidance for the full year 2024, expecting revenue of $1.040 to $1.065 billion and adjusted EPS of $9.75 to $10.05.

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Kadant Inc. (NYSE: KAI) will release its 2024 first quarter results on April 30, 2024, and hold a webcast on May 1, 2024, at 11:00 a.m. eastern time to discuss financial performance and future expectations. Participants can register for the live Q&A session on the company's website.
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Kadant Inc. (KAI) raises its quarterly dividend to $0.32 per share, reflecting a positive outlook on the company's financial health. The dividend will be paid on May 8, 2024, to stockholders of record as of April 10, 2024.
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Kadant Inc. (NYSE: KAI) reports record revenue and cash flow in FY 2023, with notable increases in operating cash flow, free cash flow, and net income. Despite a decrease in net income for the fiscal year, adjusted EPS reached a record $10.04. The company anticipates achieving record revenue, cash flow, and adjusted EBITDA in 2024.
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Kadant Inc. (KAI) has been recognized as one of 'America's Most Responsible Companies 2024' by Newsweek magazine for the fourth consecutive year. The company's commitment to sustainable industrial processing and strong performance in Environmental, Social, and Corporate Governance (ESG) factors led to this prestigious recognition.
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Kadant Inc. (KAI) is set to announce its 2023 fourth quarter and full-year results on February 14, 2024, followed by a webcast the next day. The Company will discuss financial performance and future expectations during the call.
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Kadant Inc. (NYSE: KAI) completes the acquisition of KWS Manufacturing Company, Ltd. for approximately $84 million in cash, expanding its product portfolio and enhancing its internal capabilities. KWS, a leading manufacturer of conveying equipment for the bulk material handling industry, had revenue of $45 million for the trailing twelve months ended September 30, 2023. The acquisition was primarily financed through borrowings under Kadant's revolving credit facility. Kadant will hold a conference call and webcast on January 29, 2024, to discuss the acquisition.
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FAQ

What does Kadant Inc. do?

Kadant Inc. supplies high-value components and engineered systems to process industries, enhancing efficiency and productivity.

Where is Kadant Inc. headquartered?

Kadant Inc. is headquartered in Westford, Massachusetts, USA.

What are the main segments of Kadant Inc.?

Kadant operates through three main segments: Flow Control, Industrial Processing, and Material Handling Systems.

How long has Kadant been in business?

While Kadant became an independent public company in 2001, some of its business units have been serving customers for over 100 years.

What was Kadant's revenue in 2023?

Kadant reported a record revenue of $957.7 million in 2023.

How many employees does Kadant have?

Kadant employs approximately 3,400 people across 20 countries.

What industries does Kadant serve?

Kadant serves industries such as papermaking, recycling, lumber manufacturing, mining, food processing, and packaging.

What is Kadant's stock symbol?

Kadant's stock trades under the symbol KAI on the New York Stock Exchange.

How can I access Kadant's latest financial updates?

Kadant's latest financial updates can be accessed through the 'Investors' section of their website at www.kadant.com.

What are Kadant's future growth expectations?

Kadant expects to achieve record revenue, cash flow, and adjusted EBITDA in 2024, with a focus on sustainable industrial processing and strategic acquisitions.

Kadant Inc.

NYSE:KAI

KAI Rankings

KAI Stock Data

3.90B
11.74M
1.08%
104.97%
12.11%
Sawmill, Woodworking, and Paper Machinery Manufacturing
Manufacturing
Link
United States of America
WESTFORD