KAI

EX-99.1

2 kaiform8kex991q226.htm

KAI FORM 8-K EXHIBIT 99.1 08-04-2026 EARNINGS RELEASE

Document

Exhibit 99.1

PRESS RELEASE

KADANT INC.

One Technology Park Drive

Westford, MA 01886 USA

Tel: +1 978-776-2000

www.kadant.com

Kadant Reports Second Quarter 2026 Results

WESTFORD, Mass., August 4, 2026 - Kadant Inc. (NYSE: KAI) reported its financial results for the second quarter ended July 4, 2026.

Second Quarter Financial Highlights

•Bookings increased 16% to $312 million

•Revenue increased 23% to a record $313 million

•Gross margin decreased 210 basis points to 43.8%

•Net income increased 24% to $32 million

•GAAP EPS increased 24% to $2.75

•Adjusted EPS increased 26% to a record $3.42

•Adjusted EBITDA increased 30% to a record $68 million and represented 21.8% of revenue

•Operating cash flow increased 32% to $54 million

•Backlog was $340 million

Note: Percent changes above are based on comparison to the corresponding prior year quarter. All references to earnings per share (EPS) are to our EPS as calculated on a diluted basis. Adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, free cash flow, and changes in organic revenue are non-GAAP financial measures that exclude certain items as detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

Management Commentary

"Our second-quarter results reflect solid execution across our businesses and robust demand for our aftermarket parts and services, resulting in record revenue and strong earnings growth," said Jeffrey L. Powell, president and chief executive officer of Kadant. "Although capital project timing remains challenged by customer caution and extended approval cycles, we continue to see evidence that interest in our products and technologies remains healthy. Our large installed base and disciplined operational execution enabled us to deliver excellent results in the quarter while positioning the company for meaningful upside as capital spending recovers.”

Second Quarter 2026 Compared to 2025

Revenue increased 23 percent to a record $312.9 million compared to $255.3 million in 2025. Organic revenue increased eight percent, which excludes an increase of 13 percent from acquisitions, and two percent from the favorable effect of foreign currency translation. Gross margin decreased 210 basis points to 43.8 percent, compared to 45.9 percent in 2025 due in part to an unfavorable product mix and a lower gross margin profile associated with recent acquisitions.

Net income was $32.5 million, increasing 24 percent compared to $26.2 million in 2025. GAAP EPS increased 24 percent to $2.75 compared to $2.22 in 2025 and adjusted EPS increased 26 percent to a record $3.42 compared to $2.71 in 2025. Adjusted EPS excludes intangible asset amortization expense of $0.55 and acquisition-related costs of $0.13 in 2026, and intangible asset amortization expense of $0.40 and acquisition-related costs of $0.09 in 2025.

Adjusted EBITDA increased 30 percent to a record $68.1 million and represented 21.8 percent of revenue in 2026 compared to $52.4 million and 20.5 percent of revenue in 2025. Operating cash flow increased 32 percent to $53.5 million compared to $40.5 million in 2025. Free cash flow increased 17 percent to $42.6 million compared to $36.5 million in 2025.

Kadant Reports Second Quarter 2026 Results

August 4, 2026

Page 2

Bookings increased 16 percent to $312.1 million compared to $269.4 million in 2025. Organic bookings decreased one percent, which excludes increases of 15 percent from acquisitions and two percent from the favorable effect of foreign currency translation.

Summary and Outlook

“As we look ahead to the second half of the year, we are encouraged by healthy quote activity and active commercial engagement, while the primary headwinds remain customer approval cycles and geopolitical uncertainty,” continued Mr. Powell. “We recognize that the timing of capital project spending can be uneven across our end markets and geographies, and we continue to focus on disciplined execution, cash flow generation, and servicing our customers. We expect revenue of $1.190 to $1.210 billion in 2026, revised from our previous guidance of $1.178 to $1.203 billion, and GAAP EPS of $9.78 to $10.03, revised from our previous guidance of $9.80 to $10.15. We expect adjusted EPS for 2026 of $12.43 to $12.68, revised from our prior guidance of $12.33 to $12.68. Our revised adjusted EPS guidance excludes $2.65 per share of acquisition-related costs. For the third quarter of 2026, we expect revenue of $297 to $307 million, GAAP EPS of $2.28 to $2.38, and adjusted EPS of $2.90 to $3.00, which excludes $0.62 per share of acquisition-related costs.”

Conference Call

Kadant will hold a webcast with a slide presentation for investors on Wednesday, August 5, 2026, at 11:00 a.m. Eastern Time to discuss its second quarter financial performance, as well as future expectations. To listen to the call live and view the webcast, go t

EX-99.1

2 kaiform8kex991q126.htm

KAI FORM 8-K EXHIBIT 99.1 05-05-2026 EARNINGS RELEASE

Document

Exhibit 99.1

PRESS RELEASE

KADANT INC.

One Technology Park Drive

Westford, MA 01886 USA

Tel: +1 978-776-2000

www.kadant.com

Kadant Reports First Quarter 2026 Results

WESTFORD, Mass., May 5, 2026 - Kadant Inc. (NYSE: KAI) reported its financial results for the first quarter ended April 4, 2026.

First Quarter Financial Highlights

•Bookings increased 25% to a record $321 million

•Revenue increased 18% to $282 million

•Gross margin decreased 110 basis points to 45.0%

•Net income increased 6% to $26 million

•GAAP EPS increased 6% to $2.16

•Adjusted EPS increased 14% to $2.84

•Adjusted EBITDA increased 19% to $57 million and represented 20.2% of revenue

•Operating cash flow decreased 4% to $22 million

•Backlog was $326 million

Note: Percent changes above are based on comparison to the prior year period. All references to earnings per share (EPS) are to our EPS as calculated on a diluted basis. Adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, free cash flow, and changes in organic revenue are non-GAAP financial measures that exclude certain items as detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

Management Commentary

“We had an excellent start to the year highlighted by robust demand and solid earnings growth,” said Jeffrey L. Powell, president and chief executive officer of Kadant. “Strong demand for our aftermarket parts combined with our recent acquisitions led to record bookings and aftermarket parts revenue along with healthy margin performance.”

First Quarter 2026 Compared to 2025

Revenue increased 18 percent to $281.5 million compared to $239.2 million in 2025. Organic revenue decreased one percent, which excludes an increase of 14 percent from acquisitions. Gross margin was 45.0 percent, which includes a 50 basis point decrease from acquisition-related costs, compared to 46.1 percent in 2025.

Net income was $25.5 million, increasing six percent compared to $24.1 million in 2025. GAAP EPS increased six percent to $2.16 compared to $2.04 in 2025 and adjusted EPS increased 14 percent to $2.84 compared to $2.50 in 2025. Adjusted EPS excludes intangible asset amortization expense of $0.53 and acquisition-related costs of $0.15 in 2026, and intangible asset amortization expense of $0.40 and acquisition-related costs of $0.06 in 2025.

Adjusted EBITDA increased 19 percent to $56.8 million and represented 20.2 percent of revenue in 2026 compared to $47.9 million and 20.0 percent of revenue in 2025. Operating cash flow decreased four percent to $21.9 million compared to $22.8 million in 2025. Free cash flow decreased two percent to $18.7 million compared to $19.0 million in 2025.

Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 2

Bookings increased 25 percent to a record $320.8 million compared to $256.2 million in 2025. Organic bookings increased ten percent, which excludes increases of 11 percent from acquisitions and four percent from the favorable effect of foreign currency translation.

Summary and Outlook

“Our strong start to the year is encouraging, and we expect capital project activity to continue improving,” Mr. Powell continued. “That said, project timing is more uncertain due to heightened geopolitical challenges. We are revising our guidance to reflect our recent acquisition and expect revenue of $1.178 to $1.203 billion in 2026, up from our previous guidance of $1.160 to $1.185 billion. We now expect GAAP EPS of $9.80 to $10.15 in 2026, revised from our previous guidance of $10.27 to $10.62, and adjusted EPS of $12.33 to $12.68, revised from our prior guidance of $12.53 to $12.88. The $0.20 decrease in adjusted EPS relates to our recent acquisition, which will be dilutive in the short term as income is deferred until Kadant's previously acquired inventory is sold to third-party customers. The 2026 adjusted EPS guidance excludes $2.53 of acquisition-related costs, revised from $2.26 in our previous guidance. For the second quarter of 2026, we expect revenue of $296 to $306 million, GAAP EPS of $2.26 to $2.36 and, after excluding $0.62 of acquisition-related costs, adjusted EPS of $2.88 to $2.98.”

Conference Call

Kadant will hold a webcast with a slide presentation for investors on Wednesday, May 6, 2026, at 11:00 a.m. Eastern Time to discuss its first quarter financial performance, as well as future expectations. To listen to the call live and view the webcast, go to the “Investors” section of the Company’s website at kadant.com. Participants interested in joining the call’s live question and answer session are required to register by visiting https://register-conf.media-server.com/register/BI2e8652034d3040b28a319a3ea0e02012 or selecting the Q&A link on our website to receive a dial-in number and unique PIN. It is recommended that you join the call 10 minutes prior to the start of the event. A replay of the webca

kai-202602230000886346false00008863462026-02-232026-02-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 23, 2026

KADANT INC.

(Exact name of registrant as specified in its charter)

Commission file number 001-11406

Delaware52-1762325 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

One Technology Park Drive Westford, Massachusetts 01886 (Address of principal executive offices, including zip code) (978) 776-2000 (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, $.01 par valueKAINew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

KADANT INC.

Item 2.02. Results of Operations and Financial Condition.

The reconciliation schedule prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), which reconciles the non-GAAP financial measures to the most directly comparable GAAP financial measures and is included in Exhibit 99 to this Current Report on Form 8-K, is incorporated herein by reference into this Item 2.02.

Item 7.01. Regulation FD Disclosure.

On February 19, 2026, Kadant Inc. (the “Company,” “we,” or “our”) announced during its fourth quarter and full-year fiscal 2025 earnings webcast that it will prospectively use a new methodology for calculating adjusted operating income, adjusted net income, and adjusted earnings per share (“adjusted EPS”) (collectively, the “non-GAAP financial measures”) to exclude the full impact of amortization expense related to acquired intangible assets. Previously, the Company excluded only amortization expense related to acquired backlog, which is amortized relatively quickly in the post-acquisition period.

The Company has elected to exclude amortization expense related to acquired intangible assets from these non-GAAP financial measures to provide a more meaningful and consistent comparison of its operating results over time and with peer companies. While the Company has a history of acquisition activity, such transactions do not occur on a predictable cycle, and the size and nature of these transactions will vary. A full description of the Company's non-GAAP financial measures is detailed under the heading “Use of Non-GAAP Financial Measures” in Exhibit 99 in this Current Report on Form 8-K.

The Company's guidance for its fiscal year and first quarter 2026 for adjusted net income and adjusted EPS, calculated in accordance with the new methodology, is set forth below. This guidance reflects only the guidance issued on February 19, 2026, which is subject to change.

Twelve Months Ended January 2, 2027 Three Months Ended March 28, 2026

Low High LowHigh EPS Attributable to Kadant, as Reported $10.27$10.62$1.69$1.79 Adjustments, Net of Tax0.130.130.090.09 Adjusted EPS*, as Previously Reported $10.40$10.75$1.78$1.88 Amortization of Acquired Intangible Assets, Net of Tax2.132.130.530.53 Adjusted EPS*, as Currently Reported $12.53$12.88$2.31$2.41

Notes: * Represents a non-GAAP financial measure. All references to EPS are to EPS as calculated on a diluted basis.

In addition, the Company has prepared a financial schedule of adjusted operating income, adjusted net income, and adjusted EPS reconciled to the most directly comparable GAAP financial measure, for fiscal years 2025 and 2024 and each of the four quarters therein, and for fiscal years 2023, 2022, and 2021, as furnished in this Current Report on Form 8-K as Exhibit 99.

The information in Items 2.02 and 7.01 of this Form 8-K (including Exhibit 99) shall not be deemed “filed” for purposes