The following is a summary of the Kadant Inc. (KAI) Q4 2023 Earnings Call Transcript:
Financial Performance:
Kadant reported Q4 gross margin of 42.7%, a slight decrease from the previous year's Q4 gross margin of 43.1%.
GAAP EPS increased by 4% to $2.33 for the Q4, compared to the previous year's $2.23.
Full year GAAP EPS of $9.90 was down 4% as compared to $10.35 in 2022.
The company reported a record annual adjusted EBITDA of $201.3 million in 2023, a significant increase of 58% since 2019.
Business Progress:
More than half of Kadant's revenue is from subsidiaries under or initiating the 80/20 program.
Following recent acquisitions, Kadant retains a borrowing capacity of $71 million.
The company anticipates its 2024 revenue to range from $1.04 billion to $1.065 billion.
Kadant plans to continue its focus on margin improvement and capitalizing on opportunities via robust backlog and cash flow generation.
More details: Kadant IR
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