WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported third-quarter earnings of $27.7 million.
The Westford, Massachusetts-based company said it had profit of $2.35 per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, came to $2.59 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $271.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $260.4 million.
For the current quarter ending in December, Kadant expects its per-share earnings to range from $2.05 to $2.25.
The company said it expects revenue in the range of $270 million to $280 million for the fiscal fourth quarter.
Kadant expects full-year earnings in the range of $9.05 to $9.25 per share, with revenue ranging from $1.04 billion to $1.05 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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