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Kadant: 3Q Earnings Snapshot

WESTFORD, Mass. (AP) _ Kadant Inc. (KAI) on Tuesday reported third-quarter profit of $16.1 million.

On a per-share basis, the Westford, Massachusetts-based company said it had profit of $1.41.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $173.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $172.9 million.

For the current quarter ending in December, Kadant expects its per-share earnings to range from $1.23 to $1.31.

The company said it expects revenue in the range of $172 million to $176 million for the fiscal fourth quarter.

Kadant expects full-year earnings in the range of $5.30 to $5.38 per share, with revenue ranging from $694 million to $698 million.

Kadant shares have climbed 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $88.82, a decrease of slightly more than 6% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KAI at https://www.zacks.com/ap/KAI