Kadant Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 30, 2023
February 14, 2024 at 04:18 pm EST
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Kadant Inc. reported earnings results for the fourth quarter and full year ended December 30, 2023. For the fourth quarter, the company reported sales was USD 238.68 million compared to USD 232.1 million a year ago. Net income was USD 27.4 million compared to USD 26.08 million a year ago. Basic earnings per share from continuing operations was USD 2.34 compared to USD 2.24 a year ago. Diluted earnings per share from continuing operations was USD 2.33 compared to USD 2.23 a year ago.
For the full year, sales was USD 957.67 million compared to USD 904.74 million a year ago. Net income was USD 116.07 million compared to USD 120.93 million a year ago. Basic earnings per share from continuing operations was USD 9.92 compared to USD 10.38 a year ago. Diluted earnings per share from continuing operations was USD 9.9 compared to USD 10.35 a year ago.
Kadant Inc. is a global supplier of technologies and engineered systems. The Company operates through three segments: Flow Control, Industrial Processing, and Material Handling. Flow Control segment include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems. Industrial Processing segment Equipment, machinery, and technologies used to recycle paper and paperboard and process timber for use in the packaging, tissue, wood products and alternative fuel industries, among others. The segment also provides fiber processing industries with simulation software and consulting services. Material Handling segment products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural applications and for oil and grease absorption.
KADANT INC. 
