Kadant's 2Q 2021 revenue increased 28% to a record $195.8 million compared to $152.9 million in 2020. Gross margin was 43.6% compared to 43.5% in 2020.
Net income increased 97% to $22.9 million compared to $11.6 million in 2020. Adjusted EBITDA increased 56% to a record $41.3 million and a record 21.1% of revenue compared to $26.6 million and 17.4% of revenue in the prior year quarter. Operating cash flow increased 101% to a record $44.4 million compared to $22 million in 2020.
“Our global workforce once again executed extremely well in delivering significant value to our customers and record results for our stockholders,” said Jeffrey L. Powell, President and CEO of Kadant Inc. “The broadening economic recovery has provided us with opportunities to grow our business and our results show that our efforts are working. Record revenue and solid operational execution led to strong adjusted EBITDA margin expansion across all our operating segments and we are well positioned for the second half of 2021.”
Kadant Inc. is a global supplier of high-value, critical components and engineered systems.
