Kadant Sees Q3 EPS $2.36-$2.48 Vs $2.67 Est.; Revenue $257M-$269M Vs $273.88M Est.; Raises FY24 EPS From $9.75-$10.05 To $9.80-$10.05 Vs $10.03 Est.; Revenue From $1.04B-$1.065B To $1.045B-$1.065B Vs $1.06B Est.
Portfolio Pulse from Benzinga Newsdesk
Kadant Inc. has revised its Q3 and FY24 guidance. For Q3, the company expects EPS of $2.36-$2.48, below the $2.67 estimate, and revenue of $257M-$269M, below the $273.88M estimate. For FY24, Kadant raised its EPS guidance to $9.80-$10.05 from $9.75-$10.05 and revenue guidance to $1.045B-$1.065B from $1.04B-$1.065B.
July 30, 2024 | 8:34 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Kadant Inc. has revised its Q3 and FY24 guidance. For Q3, the company expects EPS of $2.36-$2.48, below the $2.67 estimate, and revenue of $257M-$269M, below the $273.88M estimate. For FY24, Kadant raised its EPS guidance to $9.80-$10.05 from $9.75-$10.05 and revenue guidance to $1.045B-$1.065B from $1.04B-$1.065B.
Kadant's Q3 guidance is below analyst estimates for both EPS and revenue, which is likely to negatively impact the stock price in the short term. However, the slight increase in FY24 guidance may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100