Kadant Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Kadant Inc. (KAI) revealed earnings for second quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $26.16 million, or $2.22 per share. This compares with $31.29 million, or $2.66 per share, last year.

Excluding items, Kadant Inc. reported adjusted earnings of $27.23 million or $2.31 per share for the period.

Analysts on average had expected the company to earn $1.94 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 7.1% to $255.27 million from $274.77 million last year.

Kadant Inc. earnings at a glance (GAAP) :

-Earnings: $26.16 Mln. vs. $31.29 Mln. last year. -EPS: $2.22 vs. $2.66 last year. -Revenue: $255.27 Mln vs. $274.77 Mln last year.

-Guidance: Full year EPS guidance: $9.05 - $9.25 Full year revenue guidance: $1.02 - $1.04B