Yahoo Finance Kadant Earnings: What To Look For From KAI
Industrial equipment manufacturer Kadant (NYSE:KAI) will be reporting earnings tomorrow after market close. Here's what you need to know.
Kadant beat analysts' revenue expectations by 1.4% last quarter, reporting revenues of $249 million, up 8.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Kadant a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Kadant's revenue to grow 7.5% year on year to $263.5 million, slowing from the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.43 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Kadant has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.6% on average.
Looking at Kadant's peers in the general industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Dover delivered year-on-year revenue growth of 3.7%, beating analysts' expectations by 1.4%, and Honeywell reported revenues up 4.7%, topping estimates by 1.7%. Dover traded up 5.1% following the results while Honeywell was down 5.1%.
Read our full analysis of Dover's results here and Honeywell's results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 10.9% on average over the last month. Kadant is up 22.6% during the same time and is heading into earnings with an average analyst price target of $337.5 (compared to the current share price of $355.83).
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