Earnings release
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KĀDANT KADANT INC . One Technology Park Drive Westford , MA 01886 USA Tel : +1 978-776-2000 www.kadant.com Exhibit 99.1 PRESS RELEASE 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 .
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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 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/BI9d01b8eb87f846f3855390697562d249 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 webcast presentation will be available on our website through September 4, 2026. Prior to the call, our earnings release and the slides used in the webcast presentation will be filed with the Securities and Exchange Commission and will be available at sec.gov. After the webcast, Kadant will post its updated general investor presentation incorporating the second quarter results on its website at kadant.com under the “Investors” section. Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including increases or decreases in revenue excluding the effect of acquisitions and foreign currency translation (organic revenue), adjusted operating income, adjusted net income, adjusted EPS, earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted EBITDA, adjusted EBITDA margin, and free cash flow. We use organic revenue to understand our trends and to forecast and evaluate our financial performance and compare revenue to prior periods. Organic revenue excludes revenue from acquisitions for the four quarterly reporting periods following the date of the acquisition and the effect of foreign currency translation. Revenue in the second quarter of 2026 included $33.9 million from acquisitions and a favorable foreign currency translation effect of $4.1 million compared to the second quarter of 2025. Revenue in the first six months of 2026 included $67.9 million from acquisitions and a favorable foreign currency translation effect of $13.9 million compared to the first six months of 2025. Our other non-GAAP financial measures exclude amortization expense related to acquired intangible assets, profit in inventory, and backlog (collectively, purchase accounting expenses); acquisition costs; and other income or expense, as indicated. We exclude purchase accounting expenses and acquisition costs to provide a more meaningful and consistent comparison of our operating results over time and with peer companies. While we have a history of acquisition activity, such transactions do not occur on a predictable cycle, and the size and nature of these transactions will vary. We believe it is important for investors to understand that these intangible assets were recorded as part of purchase accounting and that they contribute to revenue generation. We also exclude other items as they are not indicative of our core operating results and are not comparable to other periods, which have differing levels of incremental costs, expenditures or income, or none at all. Additionally, we use free cash flow in order to provide insight on our ability to generate cash for acquisitions and debt repayments, as well as for other investing and financing activities.
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 4 We believe these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, operating results, or future outlook. We believe that the inclusion of such measures helps investors gain an understanding of our underlying operating performance and future prospects, consistent with how management measures and forecasts our performance, especially when comparing such results to previous periods or forecasts and to the performance of our competitors. Such measures are also used by us in our financial and operating decision-making and for compensation purposes. We also believe this information is responsive to investors' requests and gives them additional measures of our performance. The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for the results of operations or cash flows prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this press release have limitations associated with their use as compared to the most directly comparable GAAP measures, in that they may be different from, and therefore not comparable to, similar measures used by other companies. Second Quarter Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude: • Pre-tax intangible asset amortization expense of $8.6 million in 2026 and $6.3 million in 2025. • Pre-tax profit in inventory and backlog amortization expense of $1.2 million in 2026 and $0.2 million in 2025. • Pre-tax acquisition costs of $0.6 million in 2026 and $0.9 million in 2025. Adjusted net income and adjusted EPS exclude: • After-tax intangible asset amortization expense of $6.5 million ($8.6 million net of tax of $2.1 million) in 2026 and $4.8 million ($6.3 million net of tax of $1.5 million) in 2025. • After-tax profit in inventory and backlog amortization expense of $0.9 million ($1.2 million net of tax of $0.3 million) in 2026 and $0.2 million in 2025. • After-tax acquisition costs of $0.6 million in 2026 and $0.9 million in 2025. Free cash flow is calculated as operating cash flow less: • Capital expenditures of $10.9 million in 2026 and $4.0 million in 2025. First Six Months Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude: • Pre-tax intangible asset amortization expense of $17.0 million in 2026 and $12.7 million in 2025. • Pre-tax profit in inventory and backlog amortization expense of $2.6 million in 2026 and $0.6 million in 2025. • Pre-tax acquisition costs of $1.3 million in 2026 and $1.2 million in 2025. Adjusted net income and adjusted EPS exclude: • After-tax intangible asset amortization expense of $12.8 million ($17.0 million net of tax of $4.2 million) in 2026 and $9.5 million ($12.7 million net of tax of $3.2 million) in 2025. • After-tax profit in inventory and backlog amortization expense of $2.0 million ($2.6 million net of tax of $0.6 million) in 2026 and $0.5 million ($0.6 million net of tax of $0.1 million) in 2025. • After-tax acquisition costs of $1.3 million in 2026 and $1.2 million in 2025. Free cash flow is calculated as operating cash flow less: • Capital expenditures of $14.2 million in 2026 and $7.8 million in 2025. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in this press release. -more-
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 5 Financial Highlights (unaudited) (In thousands, except per share amounts and percentages) Three Months Ended Six Months Ended Consolidated Statement of Income July 4,2026 June 28,2025 July 4,2026 June 28,2025 Revenue $ 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 7,247 261,995 215,890 503,391 419,514 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 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: Basic $ 2.75 $ 2.22 $ 4.91 $ 4.27 Diluted $ 2.75 $ 2.22 $ 4.91 $ 4.26 Weighted Average Shares: Basic 11,808 11,776 11,801 11,768 Diluted 11,819 11,793 11,811 11,784 Three Months Ended Three Months Ended Adjusted Net Income and Adjusted Diluted EPS (a) July 4,2026 July 4,2026 June 28,2025 June 28,2025 Net Income and Diluted EPS Attributable to Kadant, as Reported$ 32,468 $ 2.75 $ 26,159 $ 2.22 Adjustments, Net of Tax: Intangible Asset Amortization 6,460 0.55 4,767 0.40 Profit in Inventory and Backlog Amortization 908 0.08 170 0.01 Acquisition Costs 602 0.05 903 0.08 Adjusted Net Income and Adjusted Diluted EPS (a,b) $ 40,438 $ 3.42 $ 31,999 $ 2.71 Six Months Ended Six Months Ended July 4,2026 July 4,2026 June 28,2025 June 28,2025 Net Income and Diluted EPS Attributable to Kadant, as Reported$ 57,977 $ 4.91 $ 50,222 $ 4.26 Adjustments, Net of Tax: Intangible Asset Amortization 12,768 1.08 9,520 0.81 Profit in Inventory and Backlog Amortization 1,965 0.17 466 0.04 Acquisition Costs 1,273 0.11 1,218 0.10 Adjusted Net Income and Adjusted Diluted EPS (a,b) $ 73,983 $ 6.26 $ 61,426 $ 5.21 -more-
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 6 Three Months Ended IncreaseExcludingAcquisitions andFX (a,c)Revenue by Segment July 4,2026 June 28,2025 Increase Flow Control $ 100,310 $ 95,947 $ 4,363 $ 1,969 Industrial Processing 143,800 95,937 47,863 12,901 Material Handling 68,765 63,383 5,382 4,737 $ 312,875 $ 255,267 $ 57,608 $ 19,607 Percentage of Parts and Consumables Revenue 68% 71% Six Months Ended Increase IncreaseExcludingAcquisitions andFX (a,c)July 4,2026 June 28,2025 Flow Control $ 198,918 $ 188,388 $ 10,530 $ 3,341 Industrial Processing 266,838 185,461 81,377 8,944 Material Handling 128,624 120,628 7,996 5,795 $ 594,380 $ 494,477 $ 99,903 $ 18,080 Percentage of Parts and Consumables Revenue 71% 73% Three Months Ended Increase Increase(Decrease)ExcludingAcquisitions andFX (c)Bookings by Segment July 4,2026 June 28,2025 Flow Control $ 102,828 $ 93,055 $ 9,773 $ 7,352 Industrial Processing 135,943 105,374 30,569 (11,070) Material Handling 73,314 70,946 2,368 1,421 $ 312,085 $ 269,375 $ 42,710 $ (2,297) Percentage of Parts and Consumables Bookings 72% 67% Six Months Ended Increase IncreaseExcludingAcquisitions andFX (c)July 4,2026 June 28,2025 Flow Control $ 214,374 $ 193,042 $ 21,332 $ 13,744 Industrial Processing 280,445 197,740 82,705 9,952 Material Handling 138,061 134,811 3,250 364 $ 632,880 $ 525,593 $ 107,287 $ 24,060 Percentage of Parts and Consumables Bookings 71% 70% Three Months Ended Six Months Ended Additional Segment Information July 4,2026 June 28,2025 July 4,2026 June 28,2025 Gross Margin: Flow Control 52.5% 53.8% 52.6% 53.6% Industrial Processing 40.7% 42.6% 41.5% 43.3% Material Handling 37.6% 38.7% 37.5% 38.2% Consolidated 43.8% 45.9% 44.4% 46.0% -more-
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 7 Three Months Ended Six Months Ended Additional Segment Information (continued) July 4,2026 June 28,2025 July 4,2026 June 28,2025 Operating Income: Flow Control $ 24,764 $ 24,443 $ 48,968 $ 47,195 Industrial Processing 27,283 15,486 47,196 32,318 Material Handling 10,853 9,939 18,319 17,474 Corporate (12,020) (10,491) (23,494) (22,024) $ 50,880 $ 39,377 $ 90,989 $ 74,963 Adjusted Operating Income (a,b,d): Flow Control $ 26,032 $ 25,908 $ 51,506 $ 50,274 Industrial Processing 33,632 18,794 60,055 38,138 Material Handling 13,542 12,633 23,696 23,060 Corporate (12,020) (10,491) (23,494) (22,024) $ 61,186 $ 46,844 $ 111,763 $ 89,448 Capital Expenditures: Flow Control (i) $ 7,027 $ 1,380 $ 8,049 $ 2,889 Industrial Processing 2,366 1,595 3,229 2,920 Material Handling 1,482 993 2,718 1,992 Corporate 72 — 209 3 $ 10,947 $ 3,968 $ 14,205 $ 7,804 Three Months Ended Six Months Ended Cash Flow and Other Data July 4,2026 June 28,2025 July 4,2026 June 28,2025 Operating Cash Flow $ 53,510 $ 40,482 $ 75,426 $ 63,317 Capital Expenditures (i) (10,947) (3,968) (14,205) (7,804) Free Cash Flow (a) $ 42,563 $ 36,514 $ 61,221 $ 55,513 Depreciation and Amortization Expense $ 15,544 $ 12,069 $ 30,191 $ 24,082 Balance Sheet Data July 4,2026 January 3,2026 Assets Cash, Cash Equivalents, and Restricted Cash $ 137,624 $ 122,681 Accounts Receivable, Net 168,698 158,567 Inventories 216,459 206,854 Contract Assets 9,025 6,599 Property, Plant, and Equipment, Net 228,772 196,656 Intangible Assets 353,932 350,376 Goodwill 660,907 555,621 Other Assets 113,879 114,824 $ 1,889,296$ 1,712,178 Liabilities and Stockholders' Equity Accounts Payable $ 56,349 $ 53,362 Debt Obligations 508,240 372,720 Other Borrowings 2,392 1,781 Other Liabilities 288,566 293,248 Total Liabilities 855,547 721,111 Stockholders' Equity 1,033,749 991,067 $ 1,889,296$ 1,712,178 -more-
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 8 Three Months Ended Six Months Ended Adjusted Operating Income and Adjusted EBITDAReconciliation (a) July 4,2026 June 28,2025 July 4,2026 June 28,2025 Consolidated Net Income Attributable to Kadant $ 32,468 $ 26,159 $ 57,977 $ 50,222 Net Income Attributable to Noncontrolling Interests 379 480 691 854 Provision for Income Taxes 13,182 9,822 23,324 17,650 Interest Expense, Net 4,819 2,899 8,952 6,204 Other Expense, Net 32 17 45 33 Operating Income 50,880 39,377 90,989 74,963 Intangible Asset Amortization Expense 8,626 6,333 17,011 12,653 Profit in Inventory Amortization Expense (e) 1,201 24 2,610 35 Backlog Amortization Expense (f) — 202 — 581 Acquisition Costs 604 908 1,278 1,245 Indemnification Asset Provision (g) (125) — (125) (29) Adjusted Operating Income (a,b) 61,186 46,844 111,763 89,448 Depreciation Expense 6,918 5,534 13,180 10,848 Adjusted EBITDA (a) $ 68,104 $ 52,378 $ 124,943 $ 100,296 Adjusted EBITDA Margin (a,h) 21.8% 20.5% 21.0% 20.3% Flow Control Operating Income $ 24,764 $ 24,443 $ 48,968 $ 47,195 Intangible Asset Amortization Expense 1,268 1,226 2,538 2,440 Profit in Inventory Amortization Expense (e) — 24 — 35 Backlog Amortization Expense (f) — 184 — 463 Acquisition Costs — 31 — 39 Indemnification Asset Reversal (g) — — — 102 Adjusted Operating Income (a,b) 26,032 25,908 51,506 50,274 Depreciation Expense 1,773 1,855 3,700 3,653 Adjusted EBITDA (a) $ 27,805 $ 27,763 $ 55,206 $ 53,927 Adjusted EBITDA Margin (a,h) 27.7% 28.9% 27.8% 28.6% Industrial Processing Operating Income $ 27,283 $ 15,486 $ 47,196 $ 32,318 Intangible Asset Amortization Expense 4,669 2,436 9,096 4,814 Profit in Inventory Amortization Expense (e) 1,201 — 2,610 — Acquisition Costs 604 872 1,278 1,212 Indemnification Asset Provision (g) (125) — (125) (206) Adjusted Operating Income (a,b) 33,632 18,794 60,055 38,138 Depreciation Expense 3,899 2,468 7,009 4,815 Adjusted EBITDA (a) $ 37,531 $ 21,262 $ 67,064 $ 42,953 Adjusted EBITDA Margin (a,h) 26.1% 22.2% 25.1% 23.2% Material Handling Operating Income $ 10,853 $ 9,939 $ 18,319 $ 17,474 Intangible Asset Amortization Expense 2,689 2,671 5,377 5,399 Backlog Amortization Expense (f) — 18 — 118 Acquisition Costs — 5 — (6) Indemnification Asset Reversal (g) — — — 75 Adjusted Operating Income (a,b) 13,542 12,633 23,696 23,060 Depreciation Expense 1,221 1,199 2,433 2,357 Adjusted EBITDA (a) $ 14,763 $ 13,832 $ 26,129 $ 25,417 Adjusted EBITDA Margin (a,h) 21.5% 21.8% 20.3% 21.1% -more-
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 9 Three Months Ended Six Months Ended Adjusted Operating Income and Adjusted EBITDAReconciliation (continued) (a) July 4,2026 June 28,2025 July 4,2026 June 28,2025 Corporate Operating Loss $ (12,020)$ (10,491)$ (23,494)$ (22,024) Depreciation Expense 25 12 38 23 EBITDA (a) $ (11,995)$ (10,479)$ (23,456)$ (22,001) (a) Represents a non-GAAP financial measure. (b) Reflects new methodology, announced on February 19, 2026, to exclude intangible asset amortization expense. (c) Represents the increase (decrease) resulting from the exclusion of acquisitions and from the conversion of current period amounts reported in local currencies into U.S. dollars at the exchange rate of the prior period compared to the U.S. dollar amount reported in the prior period. (d) See reconciliation to the most directly comparable GAAP financial measure under “Adjusted Operating Income and Adjusted EBITDA Reconciliation.” (e) Represents amortization expense within cost of revenue associated with acquired profit in inventory. (f) Represents intangible amortization expense associated with acquired backlog. (g) Represents the reversal of or provision for indemnification assets related to the release of or establishment of tax reserves associated with uncertain tax positions. (h) Calculated as adjusted EBITDA divided by revenue in each period. (i) Includes $5.8 million paid in the second quarter of 2026 for the purchase of a previously leased manufacturing facility. About Kadant Kadant Inc. is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing . The Company’s products and services play an integral role in enhancing efficiency, optimizing energy utilization, and maximizing productivity in process industries. Kadant is based in Westford, Massachusetts, with approximately 4,000 employees in 22 countries worldwide. For more information, visit kadant.com. Safe Harbor Statement The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our future financial and operating performance, demand for our products, and economic and industry outlook. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading “Risk Factors” in Kadant’s Annual Report on Form 10-K for the fiscal year ended January 3, 2026 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; our acquisition strategy; levels of residential construction activity; reductions by our wood processing customers of their capital spending or production of oriented strand board; changes to the global timber supply; development and use of digital media; cyclical economic conditions affecting the global mining industry; demand for coal, including economic and environmental risks associated with coal; failure of our information systems or breaches of data security and cybersecurity incidents; implementation of our internal growth strategy; competition; our ability to successfully manage our manufacturing operations; supply chain constraints, inflationary pressure, price increases or shortages in raw materials; loss of key personnel and effective succession planning; future restructurings; protection of intellectual property; changes to tax laws and regulations; climate change; adequacy of our insurance coverage; global operations; policies of the ® -more-
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Kadant Reports Second Quarter 2026 Results August 4, 2026 Page 10 Chinese government; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; changes to government regulations and policies around the world; compliance with government regulations and policies and compliance with laws; environmental laws and regulations; environmental, health and safety laws and regulations impacting the mining industry; our debt obligations; restrictions in our credit agreement and note purchase agreement; soundness of financial institutions; fluctuations in our share price; and anti-takeover provisions. Contacts Investor Contact Information: Michael McKenney, 978-776-2000 IR@kadant.com Media Contact Information: Wes Martz, 978-776-2000 media@kadant.com