Investing.com - Kadant (NYSE:KAI) reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Kadant announced earnings per share of $2.38 on revenue of $225M. Analysts polled by Investing.com anticipated EPS of $2.16 on revenue of $219.9M.
Kadant shares are down 58% from the beginning of the year, still down 25.66% from its 52 week high of $240.47 set on November 23, 2021.
Kadant shares lost 0.13% in after-hours trade following the report.
Kadant follows other major Industrials sector earnings this month
Kadant's report follows an earnings beat by United Parcel Service on October 25, who reported EPS of $2.99 on revenue of $24.2B, compared to forecasts EPS of $2.86 on revenue of $24.4B.
Raytheon Technologies had beat expectations on October 25 with third quarter EPS of $1.21 on revenue of $17B, compared to forecast for EPS of $1.14 on revenue of $17.31B.
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