WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported second-quarter earnings of $26.2 million.
The Westford, Massachusetts-based company said it had net income of $2.22 per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were $2.31 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $255.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $246.2 million.
For the current quarter ending in September, Kadant expects its per-share earnings to range from $2.13 to $2.23.
The company said it expects revenue in the range of $256 million to $263 million for the fiscal third quarter.
Kadant expects full-year earnings in the range of $9.05 to $9.25 per share, with revenue ranging from $1.02 billion to $1.04 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KAI at https://www.zacks.com/ap/KAI
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