Kadant: Q2 Earnings Snapshot

Associated Press Finance
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WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported second-quarter profit of $29.7 million.

On a per-share basis, the Westford, Massachusetts-based company said it had net income of $2.54.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $245.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $231.2 million.

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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

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