KAI - Kadant Q1 results beat estimates co raises FY 2023 guidance

2023-05-02 16:57:26 ET

• Kadant press release ( NYSE: KAI ): Q1 Non-GAAP EPS of $2.40 beats by $0.24 .
• Revenue of $229.8M (+1.5% Y/Y) beats by $8.17M .
• Bookings increased 3% to $275 million.
• Backlog at $393 million.
• KAI now expects revenue of $910 to $935 million in 2023, revised from a previous guidance of $900 to $925 million. The consensus estimate is $911.94M.
• KAI now expects adjusted EPS of $8.90 to $9.15 in 2023, revised from a previous guidance of $8.80 to $9.05. The consensus estimate is $9.00.
• For the second quarter of 2023, KAI expects revenue of $230 to $235 million vs. consensus of $224.04M.
• For the second quarter of 2023, KAI expects adjusted EPS of $2.05 to $2.15 vs. consensus of $2.12.

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