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Company Research15 Apr 2024
The Industrial Machinery, Supplies, and Components Industry
Explore the industrial machinery industry's growth, driven by technology, sustainability, and digital transformation, impacting global economic development.
Kadant
Kadant (KAI) investor relations material
Kadant Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
Achieved record Q4 2025 revenue of $286 million, up 11% year-over-year, driven by acquisitions, favorable currency effects, and strong aftermarket parts sales.
Full-year 2025 revenue was $1.05 billion, essentially flat year-over-year, with aftermarket parts comprising a record 71% of total revenue.
Net income for Q4 was $24 million, unchanged from the prior year; full-year net income declined 8.6%–9% to $102 million.
Adjusted EBITDA margin for Q4 was 20.3%, with free cash flow for the year reaching a record $154 million, up 14.9%–15%.
Named one of America's Most Responsible Companies for the sixth consecutive year.
Financial highlights
Q4 adjusted EBITDA increased 10.6%–11% to $58 million; full-year adjusted EBITDA was $216.3 million, down 5.8%–6% from 2024.
Q4 adjusted EPS was $2.27, up 1%; full-year adjusted EPS was $9.26, down 10% from $10.28 in 2024.
Gross margin for Q4 rose 50 bps to 43.9%; full-year gross margin increased 90 bps to 45.2%.
SG&A expenses increased to 28.7% of revenue in 2025, mainly due to acquisitions and higher compensation costs.
Net debt at year-end was $251.8 million, with a leverage ratio of 1.33.
Outlook and guidance
2026 revenue guidance: $1.16–$1.185 billion; adjusted EPS guidance: $10.40–$10.75 (excluding $0.13 amortization), $12.53–$12.88 (including amortization add-back).
Q1 2026 expected to be the weakest quarter, with revenue of $270–$280 million and adjusted EPS of $1.78–$1.88.
Guidance does not include impact from pending acquisition of voestalpine Böhler Profil GmbH.
Gross margin expected at 45.2%–45.7% for 2026; SG&A at 27.7%–28.3% of revenue.
Management anticipates strengthening capital project bookings and steady aftermarket demand.
Address Industrial Processing organic revenue decline
Assess acquisition strategy's impact on debt
What underpins 2026 capital project bookings growth?
Detail pending capital orders upside for 2026
Impact of new adjusted EPS calculation on peers
Key drivers for capital project demand in 2026
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Next Kadant earnings date
Q1 202629 Apr, 2026
Kadant
Next Kadant earnings date
Q1 202629 Apr, 2026
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Frequently asked questions
Kadant Inc is a global supplier of engineered products and technologies primarily used in process industries. The company designs and manufactures systems and components for industries such as pulp and paper, packaging, and recycling. Its product offerings include fiber processing equipment, fluid handling systems, and material handling solutions, which help improve the efficiency, quality, and sustainability of manufacturing processes. Kadant’s technologies are also used in other sectors like textiles and food processing, where they support production optimization and resource conservation. The company is headquartered in Westford, Massachusetts, and its shares are listed on the NYSE.
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