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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 (KAI) investor relations material
Kadant Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Q3 2025 revenue was $271.6–$272 million, flat year-over-year, with record aftermarket parts revenue offsetting weak capital equipment demand amid ongoing economic and trade headwinds.
Gross margin improved by 50 bps to 45.2%, driven by a higher mix of parts and consumables despite global trade uncertainties.
Net income declined 12% to $28 million, with GAAP EPS at $2.35 and adjusted EPS at $2.59, both down year-over-year.
Major acquisitions (Babbini, Clyde Industries, G.P.S. Engineering) completed in 2025, expanding the Industrial Processing segment and expected to contribute to future results.
Free cash flow up 13% year-to-date, but Q3 operating cash flow and free cash flow declined year-over-year.
Financial highlights
Q3 2025 revenue: $271.6 million; record aftermarket parts revenue: $188.4 million (69% of total revenue, up from 65% last year).
Gross margin: 45.2% (up 50 bps year-over-year); adjusted EBITDA: $58 million (21.4% margin); adjusted net income: $30.6 million.
GAAP EPS: $2.35 (down 12% year-over-year); adjusted EPS: $2.59 (down 9% year-over-year, $0.36 above guidance high end).
Cash flow from operations: $47.3 million in Q3; free cash flow: $44.1 million in Q3, $99.6 million for nine months.
Backlog at quarter-end: $273 million, with 60% ($163 million) in capital equipment.
Outlook and guidance
Full-year 2025 revenue guidance raised to $1.036–$1.046 billion, reflecting acquisitions and lower organic revenue in some segments.
Adjusted EPS guidance maintained at $9.05–$9.25, excluding $0.51 in acquisition-related costs; GAAP EPS guidance revised to $8.52–$8.72.
Q4 2025 revenue guidance: $270–$280 million; adjusted EPS: $2.05–$2.25; gross margin for 2025 expected at 45.1%–45.4%.
Management anticipates healthy aftermarket demand and improving capital equipment orders in Q4.
SG&A for 2025 projected at 28.7%–29% of revenue, including $4.8 million in one-time acquisition costs.
Aftermarket parts impact on Q3 revenue?
Reason for capital equipment project delays?
Acquisition impact on 2025 EPS guidance?
Q4 capital bookings outlook by segment?
What sustains record aftermarket parts revenue?
Key external factor for multi-year organic growth?
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Q4 202511 Feb, 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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