Kadant Inc. (KAI) revealed earnings for first quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $24.06 million, or $2.04 per share. This compares with $24.69 million, or $2.10 per share, last year.
Excluding items, Kadant Inc. reported adjusted earnings of $24.67 million or $2.10 per share for the period.
Analysts on average had expected the company to earn $1.97 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 3.9% to $239.21 million from $248.98 million last year.
Kadant Inc. earnings at a glance (GAAP) :
-Earnings: $24.06 Mln. vs. $24.69 Mln. last year.-EPS: $2.04 vs. $2.10 last year.-Revenue: $239.21 Mln vs. $248.98 Mln last year.
-Guidance:Full year EPS guidance: $9.05 to $9.25Full year revenue guidance: $1.020 to $1.040 Bln
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