Kadant Q1 revenue and earnings beat; raises full year 2022 guidance

KADANT INC

2022-Q1 EPS reported $3.53 revenue$226,480,000

Record Q1 revenue of $226M (+31% YoY); bookings up 30% to record $266M.
GAAP diluted EPS $3.53 (+147%); adjusted diluted EPS $2.28 (+49%).
Net income $41M includes $15M after-tax gain on sale of facility.
Adjusted EBITDA record $46M (20.2% of revenue), up 41% YoY.
Raises full year 2022 earnings guidance; backlog at record $348M.

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