$KAI

KADANT INC

CIK:0000886346|SEC Filings

Condensed Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Income Statement [Abstract]
Revenue (Notes 1 and 9)	$ 312,875	$ 255,267	$ 594,380	$ 494,477
Costs and Operating Expenses:
Cost of revenue	175,870	138,225	330,672	267,105
Selling, general, and administrative expenses	81,641	73,941	164,179	145,162
Research and development expenses	4,484	3,724	8,540	7,247
Total Costs and Operating Expenses	261,995	215,890	503,391	419,514
Operating Income	50,880	39,377	90,989	74,963
Interest Income	495	439	846	956
Interest Expense	(5,314)	(3,338)	(9,798)	(7,160)
Other Expense, Net	(32)	(17)	(45)	(33)
Income Before Provision for Income Taxes	46,029	36,461	81,992	68,726
Provision for Income Taxes (Note 4)	13,182	9,822	23,324	17,650
Net Income	32,847	26,639	58,668	51,076
Net Income Attributable to Noncontrolling Interests	(379)	(480)	(691)	(854)
Net Income Attributable to Kadant	$ 32,468	$ 26,159	$ 57,977	$ 50,222
Earnings per Share Attributable to Kadant (Note 3)
Basic (in dollars per share)	$ 2.75	$ 2.22	$ 4.91	$ 4.27
Diluted (in dollars per share)	$ 2.75	$ 2.22	$ 4.91	$ 4.26
Weighted Average Shares (Note 3)
Basic (in shares)	11,808	11,776	11,801	11,768
Diluted (in shares)	11,819	11,793	11,811	11,784

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025
Operating Activities
Net Income Attributable to Kadant	$ 57,977	$ 50,222
Net income attributable to noncontrolling interests	691	854
Net Income	58,668	51,076
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	30,191	24,082
Stock-based compensation expense	5,795	5,820
Provision for (recovery of) losses on accounts receivable	92	(44)
Other items, net	5,333	3,783
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(7,362)	(3,126)
Contract assets	(2,384)	7,665
Inventories	1,153	(14,804)
Other assets	(159)	(2,778)
Accounts payable	(37)	(608)
Customer deposits	(7,482)	9,360
Other liabilities	(8,382)	(17,109)
Net cash provided by operating activities	75,426	63,317
Investing Activities
Acquisitions, net of cash acquired (Note 2)	(171,768)	0
Purchases of property, plant, and equipment	(14,205)	(7,804)
Proceeds from sale of property, plant, and equipment	439	166
Other investing activities	441	698
Net cash used in investing activities	(185,093)	(6,940)
Financing Activities
Proceeds from issuance of long-term obligations (Note 5)	190,903	8,000
Repayment of long-term obligations	(49,214)	(56,930)
Tax withholding payments related to stock-based compensation	(4,924)	(6,056)
Dividends paid	(8,259)	(7,766)
Proceeds from issuance of Company common stock	0	2,101
Dividends paid to noncontrolling interests	(1,100)	(825)
Payment of debt issuance costs	(27)	0
Net cash provided by (used in) financing activities	127,379	(61,476)
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash	(2,769)	6,341
Increase in Cash, Cash Equivalents, and Restricted Cash	14,943	1,242
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	122,681	95,946
Cash, Cash Equivalents, and Restricted Cash at End of Period	$ 137,624	$ 97,188

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Current Assets:
Cash and cash equivalents	$ 134,533	$ 119,551
Restricted cash	3,091	3,130
Accounts receivable, net of allowances of $5,143 and $5,149	168,698	158,567
Inventories	216,459	206,854
Contract assets	9,025	6,599
Other current assets	49,017	47,232
Total Current Assets	580,823	541,933
Property, Plant, and Equipment, net of accumulated depreciation of $184,252 and $173,586	228,772	196,656
Other Assets	64,862	67,592
Intangible Assets, Net (Notes 1 and 2)	353,932	350,376
Goodwill (Notes 1 and 2)	660,907	555,621
Total Assets	1,889,296	1,712,178
Current Liabilities:
Current maturities of long-term obligations (Note 5)	3,176	3,129
Accounts payable	56,349	53,362
Accrued payroll and employee benefits	46,440	47,348
Accrued warranty costs	11,724	11,848
Customer deposits	49,460	56,867
Advanced billings	8,561	9,605
Other current liabilities	48,453	46,012
Total Current Liabilities	224,163	228,171
Long-Term Obligations (Note 5)	507,456	371,372
Deferred Income Taxes	64,052	62,479
Other Long-Term Liabilities	59,876	59,089
Commitments and Contingencies (Note 10)
Stockholders' Equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; none issued	0	0
Common stock, $.01 par value, 150,000,000 shares authorized; 14,624,159 shares issued	146	146
Capital in excess of par value	139,223	138,844
Retained earnings	995,116	945,641
Treasury stock at cost, 2,815,057 and 2,835,165 shares	(68,980)	(69,473)
Accumulated other comprehensive items (Note 7)	(42,551)	(35,349)
Total Kadant Stockholders' Equity	1,022,954	979,809
Noncontrolling interests	10,795	11,258
Total Stockholders' Equity	1,033,749	991,067
Total Liabilities and Stockholders' Equity	$ 1,889,296	$ 1,712,178