Kadant Stock Price, News & Analysis

Kadant Inc. (NYSE: KAI) announced orders worth approximately $10 million from an Asian containerboard producer to supply recycled fiber processing systems. These orders, booked in Q4 2020, aim to process recycled corrugated boxes for top liner production in corrugated packaging, with shipments expected in 2021. The company's leadership in fiber processing technology and strong reputation were crucial to securing this contract, as highlighted by CEO Jeffrey L. Powell.

Kadant Inc. (NYSE: KAI) announced a quarterly cash dividend of $0.24 per share, payable on February 4, 2021, to stockholders of record as of January 7, 2021. Future dividend declarations are subject to Board approval and may change based on business needs or market conditions. Kadant is a global supplier of critical components and engineered systems, enhancing process efficiency in resource-intensive industries with approximately 2,700 employees in 20 countries.

Kadant Inc. (NYSE: KAI) reported a decline in third-quarter revenue, which fell 11% year-over-year to $155 million, amid ongoing pandemic challenges. Bookings decreased by 16% to $143 million. Despite this, the company's operating cash flow was strong at $24 million, leading to free cash flow of $23 million. Adjusted diluted EPS was $1.31, reflecting a 5% decrease from the previous year. Although demand for parts and consumables was stable, there is uncertainty regarding market recovery timing, and the company has opted not to provide guidance for the upcoming quarter.

Kadant Inc. (NYSE: KAI) will release its 2020 third quarter financial results on October 27, 2020, after market close. A webcast discussing the earnings will take place on October 28, 2020, at 11:00 a.m. ET. Investors can access the live call through the Investor section of the company’s website. Kadant, based in Westford, Massachusetts, specializes in high-value components and engineered systems for process industries, committing to improving efficiency and productivity globally.

Kadant announced a quarterly cash dividend of $0.24 per share, payable on November 12, 2020, to stockholders on record by October 15, 2020. This declaration reflects the company's ongoing commitment to returning value to shareholders. The future of dividend payments will depend on Board approvals, which may change based on business conditions. Kadant operates globally, providing critical components for process industries, aiming to enhance efficiency and productivity.

Kadant Inc. (NYSE: KAI) reported second-quarter financial results for 2020, with significant declines in key metrics due to pandemic-related challenges. Bookings fell 24% to $133 million, while revenue decreased 14% to $153 million. GAAP diluted EPS dropped 30% to $1.00, and net income declined 29% to $12 million. Despite these downturns, the company maintained a solid liquidity position, with operating cash flow of $22 million. Management expressed optimism for future recovery, particularly in the fourth quarter, following strategic acquisitions and strong aftermarket performance.

Kadant Inc. (NYSE: KAI) has successfully completed its acquisition of Cogent Industrial Technologies Ltd., enhancing its industrial automation and control capabilities. This strategic move aims to deliver more integrated solutions for customers, bolstering their digital transformation efforts. President Jeffrey L. Powell emphasized that the acquisition will create new value in Kadant's offerings and expand its role in customers' digital ecosystems. Cogent is recognized for its expertise in automation, safety, and operational performance management, providing Kadant with a robust platform for future growth.

Kadant Inc. (NYSE: KAI) will announce its 2020 second quarter financial results on July 28, 2020, after market close. A follow-up webcast is scheduled for July 29, 2020, at 11:00 a.m. ET, where the Company will elaborate on its financial performance and future expectations. Investors can access the live call through the Company's website and participate via a dedicated phone line. A replay of the webcast will be available until August 28, 2020. Kadant specializes in critical components and engineered systems for process industries, emphasizing efficiency and productivity.

Kadant Inc. (NYSE: KAI) announced a new stock repurchase program, authorizing up to $20 million in equity securities from May 13, 2020, to May 13, 2021. The repurchases will occur at management's discretion, influenced by market conditions and agreements from previous financing. The program follows the expiration of an existing $20 million buyback authorized before May 15, 2020. Kadant specializes in high-value components for process industries worldwide, emphasizing efficiency and productivity.