Kadant Inc. reported a consolidated revenue of $1.05 billion for the fiscal year ending December 28, 2024, marking a 10% increase from $957.7 million in the previous year. The growth was driven by a 12% contribution from acquisitions, although organic revenue decreased by 2% due to weaker demand in the Material Handling segment. The company’s net income for 2024 was $112.6 million, a slight decline from $116.8 million in 2023, primarily attributed to increased interest expenses and a decrease in pre-tax income.
The company made significant strategic moves in 2024, completing three major acquisitions: Key Knife, Inc. for $153.4 million, KWS Manufacturing Company for $79.4 million, and Dynamic Sealing Technologies LLC for $53.6 million. These acquisitions are expected to enhance Kadant's product offerings and market reach, particularly in the Industrial Processing and Material Handling segments. The company continues to pursue additional acquisition opportunities to bolster its growth strategy.
Operationally, Kadant's customer base remains diverse, with approximately 50% of its revenue generated from international markets, primarily in Europe, Asia, and Canada. The company reported a backlog of firm orders totaling $257.4 million at year-end 2024, down from $310.4 million in 2023, with expectations that most of this backlog will be shipped within the next 12 months. The company’s employee headcount stood at approximately 3,500, reflecting its commitment to maintaining a skilled workforce to support its operations.
Looking ahead, Kadant anticipates stronger capital bookings in 2025, particularly in the Industrial Processing segment, driven by pent-up demand in the housing market and ongoing investments in infrastructure. However, the company acknowledges that macroeconomic uncertainties may impact the timing of securing capital orders. Despite these challenges, Kadant remains optimistic about its long-term growth prospects, supported by a solid market position and a focus on sustainable industrial processing technologies.
About KADANT INC
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