Kadant reports Q1 EPS $2.40, consensus $2.19

Reports Q1 revenue $229.76M, consensus $221.79M. "We had an outstanding start to 2023 with record bookings, record adjusted EPS, and excellent cash flow," said Jeffrey Powell, president and chief executive officer of Kadant Inc. "Strong demand for our aftermarket products led to record parts revenue despite the dampening effect of foreign currency translation and contributed to improved margin performance in the first quarter. I want to note that net income of $41 million in the first quarter of 2022 included a $15 million after-tax gain on the sale of a building related to the relocation of one of our Chinese facilities."