For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-11406 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 KADANT INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Kadant Inc. (NYSE:KAI) Q3 2023 Earnings Call Transcript November 1, 2023 11:00 AM ET Company Participants Michael McKenney - Executive Vice President and Chief Financial Officer Jeffrey Powell - President and Chief Executive Officer Conference Call Participants Gary Prestopino - Barrington Research Associates, Inc. Lawrence De Maria - William Blair Aditya Madan - D.A. Davidson & Co. John Franzreb - Sidoti Operator Good day and thank you for standing by. Welcome to the Kadant Third Quarter 2023 Earnings Conf ...

Bookings in our Material Handling segment were down 19% compared to the same period last year, largely due to reduced capital project activity in our billing product line. The record-setting revenue volume combined with solid execution by our businesses in this segment helped boost adjusted EBITDA margin to a record 22.9% in the quarter. We are encouraged by the number of infrastructure projects already underway and the additional projects being planned since the passage of the infrastructure bill in the U. ...

I would now like to hand the conference over to your speaker today, Michael McKenney, Executive Vice President and Chief Financial Officer. Please go ahead. With that, I'll turn the call over to Jeff Powell, who will give you an update on Kadant's business and future prospects. Following Jeff's remarks, I'll give an overview of our financial results for the quarter, and we will then have a Q&A session. Jeff? Turning now to our Industrial Processing segment. We experienced softer yet still good demand for bo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________ FORM 10-K (mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-11406 KADANT INC. (Exact name of Registrant as specified in its charter) (State or other ...

Kadant Inc. (NYSE:KAI) Q4 2022 Earnings Conference Call February 16, 2023 11:00 AM ET Company Participants Michael McKenney - Executive Vice President & Chief Financial Officer Jeff Powell - President & Chief Executive Officer Conference Call Participants Kurt Yinger - D.A. Davidson Operator Good day, and thank you for standing by. Welcome to the Kadant's Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a ...

Financial Data and Key Metrics Changes - Q3 2022 revenue increased by 12% year-over-year to $225 million, benefiting from record capital shipments [10] - Adjusted EBITDA reached a record $48 million, with an EBITDA margin of 21.3% [11][28] - GAAP diluted EPS rose by 34% to $2.35, while adjusted diluted EPS increased by 21% to a record $2.38 [27][31] - Operating cash flow decreased by 34% to $24.9 million, and free cash flow decreased by 46% to $18.5 million due to increased working capital [29] Business Line Data and Key Metrics Changes - Flow Control segment revenue reached a record $87 million, up 14% year-over-year, with bookings at $85 million, up 11% [13] - Industrial Processing segment revenue increased by 5% to $86 million, with adjusted EBITDA margin at 24% [16] - Material Handling segment revenue rose by 23% to $52 million, with parts revenue constituting 57% of total revenue [18] Market Data and Key Metrics Changes - Strong demand for aftermarket parts was noted, while new capital order activity moderated [9] - The company experienced a favorable foreign currency translation effect of $3.4 million in Q3 2022 [24] Company Strategy and Development Direction - The company is focused on completing a significant number of capital projects and maintaining a strong backlog [20][21] - There is an expectation of moderated spending in the coming months due to central bank actions aimed at reducing inflation [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from inflation, supply chain constraints, and geopolitical tensions but expressed confidence in the company's operational strength [21] - The company anticipates a potential risk from China's Zero COVID policy affecting operations [38] Other Important Information - The company narrowed its revenue guidance for 2022 to $890 million to $896 million, citing delays in capital shipments [37] - SG&A expenses as a percentage of revenue decreased to 23.7% in Q3 2022 compared to 26.2% in the prior year [26] Q&A Session Summary Question: Capital bookings decline and customer sentiment - Management indicated that the decline in capital bookings is a mix of market reactions and a wait-and-see attitude due to economic conditions [41][47] Question: Impact of capital project shifts - Approximately $10 million in capital projects were shifted from Q4 2022 to the first half of 2023, primarily affecting the Industrial Processing segment [68] Question: Commodity prices and input costs - Management noted that while stainless steel prices had decreased, they have stabilized recently, and the company has not significantly benefited or been hurt by these changes [71][72] Question: Future of greenfield projects and market dynamics - Management expects continued growth in packaging paper business driven by e-retail and sustainable materials, with a forecasted growth rate of about 4.8% annually for the next decade [59][60]

Financial Data and Key Metrics Changes - Revenue increased by 13% year-over-year, driven by strong aftermarket demand and capital order shipments [10] - Adjusted EBITDA reached a record $46 million, up 11% from $41.3 million in Q2 2021, with an adjusted EBITDA margin of 20.7% [24] - Diluted EPS was $2.24, an increase from $1.96 in Q2 2021, exceeding the high end of guidance by $0.28 [23][29] Business Line Data and Key Metrics Changes - Flow Control segment saw bookings and revenue increase by 36% and 20% respectively, with aftermarket parts revenue making up 73% of total revenue [13] - Industrial Processing segment bookings rose 8% to $110 million, with revenue increasing 2% to $84 million, affected by unfavorable foreign currency translation [15] - Material Handling segment revenue increased by 23% to $52 million, with capital bookings up 93% year-over-year [17][18] Market Data and Key Metrics Changes - Bookings increased by 25% to $266 million, with strong contributions from North America and Europe [11] - The strengthening U.S. dollar negatively impacted reported bookings by $10 million [12] - The company experienced healthy demand across all markets, particularly in North America and Europe [11] Company Strategy and Development Direction - The company aims to capitalize on opportunities arising from a record backlog and robust cash flow [21] - Focus on sustainable industrial processing solutions to drive long-term growth [103] - The company is diversifying geographically and across markets to mitigate cyclicality in demand [61] Management's Comments on Operating Environment and Future Outlook - Management anticipates a moderation in industrial demand as consumer demand slows due to central bank actions to control inflation [20] - The company remains well-positioned to weather economic slowdowns, with strong fundamentals in end markets [103] - Concerns exist regarding potential impacts from geopolitical tensions and supply chain challenges [37] Other Important Information - SG&A expenses increased to $55.3 million, reflecting costs from acquisitions and foreign currency translation effects [22] - The company raised its full-year revenue guidance to $890 million to $905 million, while maintaining adjusted diluted EPS guidance of $8.80 to $9 [35] Q&A Session Summary Question: Revenue guidance for Q3 and dynamics in the second half - Management noted a loss of $31 million in revenue due to foreign currency translation, impacting Q3 and Q4 forecasts [46] Question: Parts and consumables margin versus capital equipment - Management explained that parts and consumables can adjust prices more quickly compared to capital equipment, which is more exposed to inflationary pressures [49] Question: Expectations for booking activities in the second half - Management indicated a potential moderation in bookings but noted that discussions with customers remain strong [56] Question: Risks associated with the housing market and industrial processing - Management acknowledged a potential slowdown in the housing market but emphasized strong underlying demand [75] Question: Impact of energy prices on capital project activity - Management highlighted that high energy prices in Europe are driving demand for more efficient processing equipment [97]

KĀDANT Second Quarter 2022 Business Review August 3, 2022 Forward-Looking Statements The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our future financial and operating performance, demand for our products, and economic and industry outlook. These forward-looking statements represent our expectations ...

Kadant Inc. (NYSE:KAI) Q1 2022 Earnings Conference Call May 4, 2022 11:00 AM ET Company Participants Jeff Powell - President, Chief Executive Officer and Director Michael McKenney - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Howe - Barrington Research Associates, Inc. Bobby Eubank - Chevy Chase Trust Walter Liptak - Seaport Global Securities Operator Good day. And thank you for standing by. Welcome to the Q1 2022 Kadant Inc. Earnings Conference Call. [Operator In ...