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Kadant Appoints Michael Colwell as President and COO
Kadant announced that Michael Colwell will be appointed President and COO effective October 1, 2026 and President, CEO and a director effective January 2, 2027, as part of a succession plan adopted by the board of directors. As part of the succession plan, Jeffrey Powell will continue to serve as President through September 30, 2026, and CEO through January 2, 2027, at which time he will become Executive Chairman of the Board. Jonathan Painter, the company's current Chairman of the Board of Directors, will cease to serve as a director and the Chairman of the Board on January 2, 2027. Colwell has been SVP since December 2024, was a VP from August 2022 to December 2024, and is responsible for the company's Industrial Processing segment. Prior to that, he had supervisory responsibility for the company's wood processing business from July 2019 to July 2022, and had responsibility for the company's fiber-based products business from July 2019 to November 2021. Colwell previously served as the president of Kadant Carmanah Design, a division of the company's subsidiary Kadant Canada, from 2013 to 2019. Colwell previously served as President and CEO of Carmanah Design from April 2010 until its acquisition by the Company in November 2013. The succession plan is designed to retain the services of Powell for one year following the appointment of his successor as CEO. Powell is expected to continue as a director and chairman of the board in a non-executive role after his retirement on January 1, 2028.
Raises FY26 Revenue Outlook to $1.19B-$1.21B
Consensus $11.87. Raises FY26 revenue view to $1.19B-$1.21B from $1.178B-$1.203B, consensus $1.19B
Sees Q3 Revenue of $297M-$307M, Consensus $311.98M
Sees Q3 revenue $297M-$307M, consensus $311.98M
Kadant Reports Q2 Revenue of $313M, Exceeding Expectations
Reports Q2 revenue $313M, consensus $299.33M. "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 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."
Kadant Authorizes Repurchase of Up to $50M in Equity Securities
Kadant announced that its board of directors has authorized the repurchase of up to $50M of its equity securities effective May 21 through May 21, 2027. The company has not repurchased any shares of its common stock under the $50M authorization that expired on May 15.
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