Kadant narrows FY24 adjusted EPS view to $9.80-$10.05 from $9.75-$10.05

Consensus $10.03. Narrows FY24 revenue view to $1.05B-$1.07B from $1.04B-$1.07B, consensus $1.06B. “With our excellent start to the year and ability to generate strong cash flows, we are well positioned to capitalize on new opportunities that may emerge in the second half of 2024,” Mr. Powell continued. “We expect industrial demand in the second half of the year to be similar to the first half of the year, despite persistent economic headwinds in certain regions. We are raising the low end of our revenue and adjusted EPS guidance for the full year and now expect revenue of $1.045 to $1.065 billion in 2024, revised from our previous guidance of $1.040 to $1.065 billion. Our adjusted EPS guidance for 2024 is now $9.80 to $10.05, revised from our previous guidance of $9.75 to $10.05. The 2024 adjusted EPS guidance excludes $0.60 of acquisition-related costs, revised from $0.36 of acquisition-related costs in our previous guidance. We now expect GAAP EPS of $9.20 to $9.45 in 2024, revised from our previous GAAP EPS guidance of $9.39 to $9.69.”