AP NEWS

Kadant: 4Q Earnings Snapshot

February 13, 2019

WESTFORD, Mass. (AP) _ Kadant Inc. (KAI) on Wednesday reported fourth-quarter earnings of $18.4 million.

On a per-share basis, the Westford, Massachusetts-based company said it had net income of $1.61. Earnings, adjusted for non-recurring costs, were $1.66 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $163.9 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $160.7 million.

For the current quarter ending in April, Kadant expects its per-share earnings to range from $1.11 to $1.17.

The company expects full-year earnings in the range of $5.20 to $5.35 per share.

Kadant shares have risen slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $87.49, a drop of nearly 7 percent 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