Kadant Inc. Q3 2024: $178.6M Net Income YTD
Ticker: KAI · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 886346
Sentiment: neutral
Topics: earnings, financials, 10-Q
TL;DR
**Kadant Q3 2024: $178.6M net income YTD. Fiscal year ends Dec 28.**
AI Summary
Kadant Inc. reported its third-quarter 2024 results, with net income for the nine months ended September 28, 2024, reaching $178.6 million. The company's fiscal year ends on December 28. This 10-Q filing covers the period up to September 28, 2024.
Why It Matters
This filing provides investors with Kadant's financial performance for the third quarter of 2024, impacting investment decisions and stock valuation.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.
Key Numbers
- $178.6M — Net Income (YTD) (Represents the company's profitability for the first nine months of fiscal year 2024.)
- 2024-09-28 — Reporting Period End Date (Defines the timeframe covered by this 10-Q filing.)
- 20241106 — Filing Date (Indicates when the company submitted this report to the SEC.)
Key Players & Entities
- Kadant Inc. (company) — Filer of the 10-Q report.
- 2024-09-28 (date) — End of the reporting period for the 10-Q.
- $178.6 million (dollar_amount) — Net income for the nine months ended September 28, 2024.
- 20241106 (date) — Date the filing was made.
FAQ
What was Kadant Inc.'s net income for the nine months ended September 28, 2024?
Kadant Inc.'s net income for the nine months ended September 28, 2024, was $178.6 million.
What is the fiscal year end date for Kadant Inc.?
Kadant Inc.'s fiscal year ends on December 28.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending on September 28, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on November 6, 2024 (20241106).
What was Kadant Inc.'s former company name?
Kadant Inc.'s former company name was Thermo Fibertek Inc., with a date of name change on March 28, 1993.
Filing Stats: 4,727 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-11-06 13:38:04
Filing Documents
- kai-20240928.htm (10-Q) — 1446KB
- kaiform10q3q2024ex311.htm (EX-31.1) — 10KB
- kaiform10q3q2024ex312.htm (EX-31.2) — 10KB
- kaiform10q3q2024ex32.htm (EX-32) — 7KB
- 0000886346-24-000164.txt ( ) — 8581KB
- kai-20240928.xsd (EX-101.SCH) — 52KB
- kai-20240928_cal.xml (EX-101.CAL) — 91KB
- kai-20240928_def.xml (EX-101.DEF) — 283KB
- kai-20240928_lab.xml (EX-101.LAB) — 733KB
- kai-20240928_pre.xml (EX-101.PRE) — 508KB
- kai-20240928_htm.xml (XML) — 1359KB
: Financial Information
PART I: Financial Information Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Consolidated Balance Sheet as of September 2 8 , 2024 and December 30, 2023 3 Condensed Consolidated Statement of Income for the three- and nine -month periods ended September 2 8 , 2024 and September 30 , 2023 4 Condensed Consolidated Statement of Comprehensive Income for the three- and nine-month periods ended September 28, 2024 and September 30, 2023 5 Condensed Consolidated Statement of Cash Flows for the nine-month periods ended September 28, 2024 and September 30, 2023 6 Condensed Consolidated Statement of Stockholders' Equity for the three- and nine-month periods ended September 28, 2024 and September 30, 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36
: Other Information
PART II: Other Information Item 1A.
Risk Factors
Risk Factors 36 Item 5. Other Information 36 Item 6. Exhibits 37 Table of Contents PART 1 – FINANCIAL INFORMATION
– Financial Statements
Item 1 – Financial Statements KADANT INC. Condensed Consolidated Balance Sheet (Unaudited) September 28, 2024 December 30, 2023 (In thousands, except share and per share amounts) Assets Current Assets: Cash and cash equivalents $ 88,407 $ 103,832 Restricted cash 1,327 2,621 Accounts receivable, net of allowances of $ 4,888 and $ 4,090 154,965 133,929 Inventories 169,252 152,677 Contract assets 14,534 8,366 Other current assets 41,065 38,757 Total Current Assets 469,550 440,182 Property, Plant, and Equipment, net of accumulated depreciation of $ 145,901 and $ 132,846 174,559 140,504 Other Assets 59,915 43,609 Intangible Assets, Net (Notes 1 and 2) 292,211 159,286 Goodwill (Notes 1 and 2) 493,105 392,084 Total Assets $ 1,489,340 $ 1,175,665 Liabilities and Stockholders' Equity Current Liabilities: Current maturities of long-term obligations (Note 6) $ 3,263 $ 3,209 Accounts payable 50,536 42,104 Accrued payroll and employee benefits 43,250 41,855 Customer deposits 46,208 62,641 Advanced billings 9,548 12,194 Other current liabilities 52,422 52,406 Total Current Liabilities 205,227 214,409 Long-Term Obligations (Note 6) 323,169 107,666 Long-Term Deferred Income Taxes 41,397 36,398 Other Long-Term Liabilities 56,761 40,952 Commitments and Contingencies (Note 12) Stockholders' Equity: Preferred stock, $ .01 par value, 5,000,000 shares authorized; none issued — — Common stock, $ .01 par value, 150,000,000 shares authorized; 14,624,159 shares issued 146 146 Capital in excess of par value 127,486 124,940 Retained earnings 839,422 763,131 Treasury stock at cost, 2,878,835 and 2,915,978 shares ( 70,543 ) ( 71,453 ) Accumulated other comprehensive items (Note 8) ( 44,778 ) ( 43,062 ) Total Kadant Stockholders' Equity 851,733 773,702 Noncontrolling interests (Note 2) 11,053 2,538 Total Stockholders' Equity 862,786 776,240 Total Liabilities and Stockholders' Equity $ 1,489,340 $ 1,175,665 The accompanying notes are an