Kadant: Q3 Earnings Snapshot
WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported third-quarter profit of $30.9 million.
On a per-share basis, the Westford, Massachusetts-based company said it had profit of $2.63. Earnings, adjusted for non-recurring costs, were $2.69 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $244.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $231.8 million.
For the current quarter ending in December, Kadant said it expects revenue in the range of $222 million to $230 million.
The company expects full-year earnings in the range of $9.65 to $9.75 per share, with revenue ranging from $941 million to $949 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
