Form 8-K

8-K — KADANT INC

Accession: 0000886346-26-000037

Filed: 2026-05-05

Period: 2026-05-05

CIK: 0000886346

SIC: 3550 (SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY))

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — kai-20260505.htm (Primary)

EX-99.1 — KAI FORM 8-K EXHIBIT 99.1 05-05-2026 EARNINGS RELEASE (kaiform8kex991q126.htm)

EX-99.2 — KAI FORM 8-K EXHIBIT 99.2 05-06-2026 WEBCAST SLIDES (kaiform8kex992q126.htm)

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8-K — KAI FORM 8-K 05-05-2026

8-K (Primary)

Filename: kai-20260505.htm · Sequence: 1

kai-20260505

0000886346false00008863462026-05-052026-05-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

______________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 5, 2026

KADANT INC.

(Exact name of registrant as specified in its charter)

Commission file number 001-11406

Delaware 52-1762325

(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

One Technology Park Drive

Westford, Massachusetts 01886

(Address of principal executive offices, including zip code)

(978) 776-2000

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $.01 par value KAI New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

KADANT INC.

Item 2.02. Results of Operations and Financial Condition.

On May 5, 2026, Kadant Inc. (the “Company”) announced its financial results for the fiscal quarter ended April 4, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 7.01. Regulation FD Disclosure.

On May 6, 2026, the Company will hold a webcast and conference call to discuss its financial results for the fiscal quarter ended April 4, 2026. A copy of the slides that will be presented on the webcast and discussed in the conference call is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

The information in Item 2.02 and Item 7.01 of this Form 8-K (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits relating to Item 2.02 and Item 7.01 shall be deemed to be furnished and not filed.

Exhibit

No.

Description of Exhibits

99.1

Press Release issued by the Company on May 5, 2026 announcing its financial results.

99.2

Slides to be presented by the Company on May 6, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

KADANT INC.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KADANT INC.

Date: May 5, 2026

/s/ Michael J. McKenney

Michael J. McKenney

Executive Vice President and Chief Financial Officer

EX-99.1 — KAI FORM 8-K EXHIBIT 99.1 05-05-2026 EARNINGS RELEASE

EX-99.1

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Document

Exhibit 99.1

PRESS RELEASE

KADANT INC.

One Technology Park Drive

Westford, MA 01886 USA

Tel: +1 978-776-2000

www.kadant.com

Kadant Reports First Quarter 2026 Results

WESTFORD, Mass., May 5, 2026 - Kadant Inc. (NYSE: KAI) reported its financial results for the first quarter ended April 4, 2026.

First Quarter Financial Highlights

•Bookings increased 25% to a record $321 million

•Revenue increased 18% to $282 million

•Gross margin decreased 110 basis points to 45.0%

•Net income increased 6% to $26 million

•GAAP EPS increased 6% to $2.16

•Adjusted EPS increased 14% to $2.84

•Adjusted EBITDA increased 19% to $57 million and represented 20.2% of revenue

•Operating cash flow decreased 4% to $22 million

•Backlog was $326 million

Note: Percent changes above are based on comparison to the prior year period. 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

“We had an excellent start to the year highlighted by robust demand and solid earnings growth,” said Jeffrey L. Powell, president and chief executive officer of Kadant. “Strong demand for our aftermarket parts combined with our recent acquisitions led to record bookings and aftermarket parts revenue along with healthy margin performance.”

First Quarter 2026 Compared to 2025

Revenue increased 18 percent to $281.5 million compared to $239.2 million in 2025. Organic revenue decreased one percent, which excludes an increase of 14 percent from acquisitions. Gross margin was 45.0 percent, which includes a 50 basis point decrease from acquisition-related costs, compared to 46.1 percent in 2025.

Net income was $25.5 million, increasing six percent compared to $24.1 million in 2025. GAAP EPS increased six percent to $2.16 compared to $2.04 in 2025 and adjusted EPS increased 14 percent to $2.84 compared to $2.50 in 2025. Adjusted EPS excludes intangible asset amortization expense of $0.53 and acquisition-related costs of $0.15 in 2026, and intangible asset amortization expense of $0.40 and acquisition-related costs of $0.06 in 2025.

Adjusted EBITDA increased 19 percent to $56.8 million and represented 20.2 percent of revenue in 2026 compared to $47.9 million and 20.0 percent of revenue in 2025. Operating cash flow decreased four percent to $21.9 million compared to $22.8 million in 2025. Free cash flow decreased two percent to $18.7 million compared to $19.0 million in 2025.

Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 2

Bookings increased 25 percent to a record $320.8 million compared to $256.2 million in 2025. Organic bookings increased ten percent, which excludes increases of 11 percent from acquisitions and four percent from the favorable effect of foreign currency translation.

Summary and Outlook

“Our strong start to the year is encouraging, and we expect capital project activity to continue improving,” Mr. Powell continued. “That said, project timing is more uncertain due to heightened geopolitical challenges. We are revising our guidance to reflect our recent acquisition and expect revenue of $1.178 to $1.203 billion in 2026, up from our previous guidance of $1.160 to $1.185 billion. We now expect GAAP EPS of $9.80 to $10.15 in 2026, revised from our previous guidance of $10.27 to $10.62, and adjusted EPS of $12.33 to $12.68, revised from our prior guidance of $12.53 to $12.88. The $0.20 decrease in adjusted EPS relates to our recent acquisition, which will be dilutive in the short term as income is deferred until Kadant's previously acquired inventory is sold to third-party customers. The 2026 adjusted EPS guidance excludes $2.53 of acquisition-related costs, revised from $2.26 in our previous guidance. For the second quarter of 2026, we expect revenue of $296 to $306 million, GAAP EPS of $2.26 to $2.36 and, after excluding $0.62 of acquisition-related costs, adjusted EPS of $2.88 to $2.98.”

Conference Call

Kadant will hold a webcast with a slide presentation for investors on Wednesday, May 6, 2026, at 11:00 a.m. Eastern Time to discuss its first 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/BI2e8652034d3040b28a319a3ea0e02012 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 June 5, 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 first 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 first quarter of 2026 included $34.0 million from acquisitions and a favorable foreign currency translation effect of $9.8 million compared to the first quarter 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.

Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 3

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.

First Quarter

Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude:

•Pre-tax intangible asset amortization expense of $8.4 million in 2026 and $6.3 million in 2025.

•Pre-tax profit in inventory and backlog amortization expense of $1.4 million in 2026 and $0.4 million in 2025.

•Pre-tax acquisition costs of $0.7 million in 2026 and $0.3 million in 2025.

Adjusted net income and adjusted EPS exclude:

•After-tax intangible asset amortization expense of $6.3 million ($8.4 million plus 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 $1.1 million ($1.4 million net of tax of $0.3 million) in 2026 and $0.3 million ($0.4 million net of tax of $0.1 million) in 2025.

•After-tax acquisition costs of $0.7 million in 2026 and $0.3 million in 2025.

Free cash flow is calculated as operating cash flow less:

•Capital expenditures of $3.3 million in 2026 and $3.8 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.

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Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 4

Financial Highlights (unaudited)

(In thousands, except per share amounts and percentages)

Three Months Ended

Consolidated Statement of Income April 4,

2026

March 29,

2025

Revenue $ 281,505 $ 239,210

Costs and Operating Expenses:

Cost of revenue 154,802 128,880

Selling, general, and administrative expenses 82,538 71,221

Research and development expenses 4,056 3,523

241,396 203,624

Operating Income 40,109 35,586

Interest Income 351 517

Interest Expense (4,484) (3,822)

Other Expense, Net (13) (16)

Income Before Provision for Income Taxes 35,963 32,265

Provision for Income Taxes 10,142 7,828

Net Income 25,821 24,437

Net Income Attributable to Noncontrolling Interests

(312) (374)

Net Income Attributable to Kadant $ 25,509 $ 24,063

Earnings per Share Attributable to Kadant:

Basic $ 2.16 $ 2.05

Diluted $ 2.16 $ 2.04

Weighted Average Shares:

Basic 11,794 11,760

Diluted 11,802 11,776

Three Months Ended Three Months Ended

Adjusted Net Income and Adjusted Diluted EPS (a)

April 4,

2026 April 4,

2026 March 29,

2025 March 29,

2025

Net Income and Diluted EPS Attributable to Kadant, as Reported $ 25,509 $ 2.16 $ 24,063 $ 2.04

Adjustments, Net of Tax:

Intangible Asset Amortization

6,308 0.53 4,753 0.40

Profit in Inventory and Backlog Amortization

1,057 0.09 296 0.03

Acquisition Costs

671 0.06 315 0.03

Adjusted Net Income and Adjusted Diluted EPS (a,b)

$ 33,545 $ 2.84 $ 29,427 $ 2.50

Three Months Ended

Increase (Decrease)

Excluding Acquisitions and FX (a,c)

Revenue by Segment April 4,

2026

March 29,

2025

Increase

Flow Control $ 98,608 $ 92,441 $ 6,167 $ 1,372

Industrial Processing 123,038 89,524 33,514 (3,957)

Material Handling 59,859 57,245 2,614 1,058

$ 281,505 $ 239,210 $ 42,295 $ (1,527)

Percentage of Parts and Consumables Revenue

74%

75%

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Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 5

Three Months Ended

Increase

Increase (Decrease)

Excluding Acquisitions and FX (c)

Bookings by Segment April 4,

2026 March 29,

2025

Flow Control $ 111,546 $ 99,987 $ 11,559 $ 6,392

Industrial Processing 144,502 92,366 52,136 21,022

Material Handling 64,747 63,865 882 (1,057)

$ 320,795 $ 256,218 $ 64,577 $ 26,357

Percentage of Parts and Consumables Bookings

71%

74%

Three Months Ended

Additional Segment Information

April 4,

2026 March 29,

2025

Gross Margin:

Flow Control

52.7%

53.3%

Industrial Processing

42.5%

44.1%

Material Handling

37.5%

37.7%

Consolidated

45.0%

46.1%

Operating Income:

Flow Control $ 24,204 $ 22,752

Industrial Processing

19,913 16,832

Material Handling 7,466 7,535

Corporate (11,474) (11,533)

$ 40,109 $ 35,586

Adjusted Operating Income (a,b,d):

Flow Control $ 25,474 $ 24,366

Industrial Processing 26,423 19,344

Material Handling 10,154 10,427

Corporate (11,474) (11,533)

$ 50,577 $ 42,604

Capital Expenditures:

Flow Control $ 1,022 $ 1,509

Industrial Processing

863 1,325

Material Handling 1,236 999

Corporate 137 3

$ 3,258 $ 3,836

Three Months Ended

Cash Flow and Other Data April 4,

2026 March 29,

2025

Operating Cash Flow $ 21,916 $ 22,835

Capital Expenditures

(3,258) (3,836)

Free Cash Flow (a) $ 18,658 $ 18,999

Depreciation and Amortization Expense $ 14,647 $ 12,013

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Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 6

Balance Sheet Data April 4,

2026 January 3,

2026

Assets

Cash, Cash Equivalents, and Restricted Cash $ 119,817 $ 122,681

Accounts Receivable, Net

172,376 158,567

Inventories 214,831 206,854

Contract Assets 5,921 6,599

Property, Plant, and Equipment, Net

193,286 196,656

Intangible Assets 341,170 350,376

Goodwill 551,088 555,621

Other Assets 116,163 114,824

$ 1,714,652 $ 1,712,178

Liabilities and Stockholders' Equity

Accounts Payable $ 55,481 $ 53,362

Debt Obligations 361,256 372,720

Other Borrowings 2,105 1,781

Other Liabilities 289,661 293,248

Total Liabilities 708,503 721,111

Stockholders' Equity 1,006,149 991,067

$ 1,714,652 $ 1,712,178

Three Months Ended

Adjusted Operating Income and Adjusted EBITDA Reconciliation (a) April 4,

2026 March 29,

2025

Consolidated

Net Income Attributable to Kadant $ 25,509 $ 24,063

Net Income Attributable to Noncontrolling Interests

312 374

Provision for Income Taxes 10,142 7,828

Interest Expense, Net 4,133 3,305

Other Expense, Net 13 16

Operating Income 40,109 35,586

Intangible Asset Amortization Expense

8,385 6,320

Profit in Inventory Amortization Expense (e)

1,409 11

Backlog Amortization Expense (f)

— 379

Acquisition Costs 674 337

Indemnification Asset Provision (g)

— (29)

Adjusted Operating Income (a,b)

50,577 42,604

Depreciation Expense

6,262 5,314

Adjusted EBITDA (a) $ 56,839 $ 47,918

Adjusted EBITDA Margin (a,h)

20.2% 20.0%

Flow Control

Operating Income $ 24,204 $ 22,752

Intangible Asset Amortization Expense

1,270 1,214

Profit in Inventory Amortization Expense (e)

— 11

Backlog Amortization Expense (f)

— 279

Acquisition Costs — 8

Indemnification Asset Reversal (g)

— 102

Adjusted Operating Income (a,b)

25,474 24,366

Depreciation Expense

1,927 1,798

Adjusted EBITDA (a) $ 27,401 $ 26,164

Adjusted EBITDA Margin (a,h)

27.8% 28.3%

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Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 7

Three Months Ended

Adjusted Operating Income and Adjusted EBITDA Reconciliation (a) April 4,

2026 March 29,

2025

Industrial Processing

Operating Income $ 19,913 $ 16,832

Intangible Asset Amortization Expense

4,427 2,378

Profit in Inventory Amortization Expense (e)

1,409 —

Acquisition Costs 674 340

Indemnification Asset Provision (g)

— (206)

Adjusted Operating Income (a,b)

26,423 19,344

Depreciation Expense

3,110 2,347

Adjusted EBITDA (a) $ 29,533 $ 21,691

Adjusted EBITDA Margin (a,h)

24.0% 24.2%

Material Handling

Operating Income $ 7,466 $ 7,535

Intangible Asset Amortization Expense

2,688 2,728

Backlog Amortization Expense (f)

— 100

Acquisition Costs

— (11)

Indemnification Asset Reversal (g)

— 75

Adjusted Operating Income (a,b)

10,154 10,427

Depreciation Expense

1,212 1,158

Adjusted EBITDA (a) $ 11,366 $ 11,585

Adjusted EBITDA Margin (a,h)

19.0% 20.2%

Corporate

Operating Loss $ (11,474) $ (11,533)

Depreciation Expense

13 11

EBITDA (a) $ (11,461) $ (11,522)

(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.

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.

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Kadant Reports First Quarter 2026 Results

May 5, 2026

Page 8

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 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

EX-99.2 — KAI FORM 8-K EXHIBIT 99.2 05-06-2026 WEBCAST SLIDES

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kaiform8kex992q126

First Quarter 2026 Business Review May 6, 2026 Exhibit 99.2

Forward-Looking Statements The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation 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, economic and industry outlook, and the acquisition of Kadant Profil GmbH & Co KG. These forward-looking statements represent our expectations as of May 5, 2026. 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 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. 2KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with U.S. 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 EPS, adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA), adjusted EBITDA margin, adjusted operating income, and free cash flow. All references to EPS (earnings per share) are to our EPS as calculated on a diluted basis. Specific non-GAAP financial measures have been marked with an * (asterisk) within this presentation. A reconciliation of those numbers to the most directly comparable GAAP financial measures is shown within this presentation and in our first quarter 2026 earnings press release issued May 5, 2026, which is available in the Investors section of our website at investor.kadant.com under the heading News Releases. 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. 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. 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 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 presentation 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 presentation 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. 3 KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

BUSINESS REVIEW Jeffrey L. Powell, President & CEO 4

Operational Highlights 5 KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. • Strong start to the year with record demand and solid earnings growth • Solid execution drove healthy gross margin performance • Strong contributions from our recent acquisitions • Exceeded expectations across most financial metrics 5

Q1 2026 Performance 6 ($ in millions, except per share amounts) Q1 26 Q1 25 Change Bookings $320.8 $256.2 +25.2% Revenue $281.5 $239.2 +17.7% Net Income $25.5 $24.1 +6.0% Adjusted EBITDA* $56.8 $47.9 +18.6% Adjusted EBITDA Margin* 20.2 % 20.0 % +20 bps EPS $2.16 $2.04 +5.9% Adjusted EPS* $2.84 $2.50 +13.6% Operating Cash Flow $21.9 $22.8 -4.0% Free Cash Flow* $18.7 $19.0 -1.8% HIGHLIGHTS • Record bookings achieved in Q1 2026 • Strong organic bookings growth, up 10% • Record demand for aftermarket parts • Adjusted EBITDA* up 19% • Adjusted EPS* increased 14% KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

$100.0 $93.1 $93.8 $93.6 $111.5 1Q25 2Q25 3Q25 4Q25 1Q26 7 ($ in millions) Q1 26 Q1 25 Change Bookings $111.5 $100.0 +11.6 % Revenue $98.6 $92.4 +6.7 % Adjusted EBITDA* $27.4 $26.2 +4.7 % Adjusted EBITDA Margin* 27.8 % 28.3 % -50 bps HIGHLIGHTS • Record aftermarket parts demand; total bookings up 12% • Aftermarket parts made up 77% of total revenue in Q1 2026 • Adjusted EBITDA* increased 5% • Capital project activity is showing signs of improvement, timing remains fluid ($ in millions) BOOKINGS Flow Control KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

8 ($ in millions) Q1 26 Q1 25 Change Bookings $144.5 $92.4 +56.4% Revenue $123.0 $89.5 +37.4 % Adjusted EBITDA* $29.5 $21.7 +36.2 % Adjusted EBITDA Margin* 24.0 % 24.2 % -20 bps HIGHLIGHTS • Recent acquisitions boosted increases in revenue and bookings • Organic bookings were up 23% • Adjusted EBITDA* rose 36% and benefitted from recent acquisitions • Timing of capital projects continues to be uncertain Industrial Processing $92.4 $105.4 $85.2 $121.0 $144.5 1Q25 2Q25 3Q25 4Q25 1Q26 BOOKINGS ($ in millions) KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

9 ($ in millions) Q1 26 Q1 25 Change Bookings $64.7 $63.9 +1.4% Revenue $59.9 $57.2 +4.6% Adjusted EBITDA* $11.4 $11.6 -1.9% Adjusted EBITDA Margin* 19.0 % 20.2 % -120 bps HIGHLIGHTS • Steady year-over-year growth • Strong aftermarket parts bookings • Adjusted EBITDA* decreased 2% • Demand expected to be relatively stable throughout 2026 Material Handling $63.9 $70.9 $59.3 $55.4 $64.7 1Q25 2Q25 3Q25 4Q25 1Q26 BOOKINGS ($ in millions) KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

Business Outlook • Good start to 2026 with record bookings and healthy backlog • Aftermarket parts demand expected to remain healthy • Improving capital equipment environment, timing remains uncertain • Geopolitical tensions continue to pose challenges • Our solid balance sheet and strong cash flow generation provide a firm foundation for 2026 10KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED.

FINANCIAL REVIEW Michael J. McKenney, EVP & CFO 11

Q1 2026 Financial Performance ($ in millions, except per share amounts) Q1 26 Q1 25 Revenue $281.5 $239.2 Gross Margin 45.0% 46.1% SG&A % of Revenue 29.3% 29.8% Operating Income $40.1 $35.6 Net Income $25.5 $24.1 Adjusted EBITDA* $56.8 $47.9 EPS $2.16 $2.04 Adjusted EPS* $2.84 $2.50 Operating Cash Flow $21.9 $22.8 HIGHLIGHTS • Record parts and consumables revenue • Adjusted EBITDA margin* of 20.2% • Adjusted EPS* exceeded guidance • Backlog of $326 million KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 12

Key Financial Metrics KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 13 $22.8 $40.5 $47.3 $60.8 $21.9 $19.0 $36.5 $44.1 $54.7 $18.7 FREE CASH FLOW* OPERATING CASH FLOW 1Q25 2Q25 3Q25 4Q25 1Q26 $47.9 $52.4 $58.0 $58.0 $56.8 $24.1 $26.2 $27.7 $24.0 $25.5 20.0% 20.5% 21.4% 20.3% 20.2% NET INCOME ADJUSTED EBITDA* ADJ. EBITDA MARGIN* 1Q25 2Q25 3Q25 4Q25 1Q26 ADJUSTED EBITDA* CASH FLOW ($ in millions)($ in millions)

2Q21 ADJ EPS* 2Q22 ADJ EPS* KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. Q1 25 to Q1 26 Adjusted EPS* $2.50 $0.58 $0.25 $(0.24) $(0.12) $(0.07) $(0.05) $(0.01) $2.84 Q1 25 ADJ EPS* ACQUISITIONS REVENUE OPERATING EXPENSES TAX PROVISION GROSS MARGIN INTEREST EXPENSE NONCONTROLLING INTERESTS Q1 26 ADJ EPS* 14

Key Liquidity Metrics KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. ($ in millions) Q1 26 Q4 25 Q1 25 Cash, cash equivalents, and restricted cash $119.8 $122.7 $93.8 Debt $361.3 $372.7 $274.9 Lease obligations $2.1 $1.8 $1.9 Net Debt $243.5 $251.8 $183.1 Leverage ratio1 1.27 1.33 0.95 Working capital % LTM revenue2 20.0 % 18.5 % 16.8 % Cash conversion days3 147 130 130 15

Guidance KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 16 • FY 2026 revenue of $1.178 to $1.203 billion, revised from $1.160 to $1.185 billion • FY 2026 GAAP EPS of $9.80 to $10.15, revised from $10.27 to $10.62 • FY 2026 adjusted EPS* of $12.33 to $12.68, revised from $12.53 to $12.88 • Q2 2026 revenue of $296 to $306 million • Q2 2026 GAAP EPS of $2.26 to $2.36 • Q2 2026 adjusted EPS* of $2.88 to $2.98

Questions & Answers To participate in the live Q&A session, please go to investor.kadant.com and click on the Q&A session link to receive a dial-in number and unique PIN. Please mute the audio on your computer. 17

Delivering Exceptional Stakeholder Value 18KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. Reinforce an entrepreneurial mindset in our decentralized business model to stimulate growth and drive efficiencies. Build leadership capabilities to achieve growth-focused critical outcomes. Cultivate innovation, agility, and discipline for sustainable growth and profitability. Drive operational excellence via our 80/20 Performance System and Lean principles to systematically enhance performance. OUR KEY PRIORITIES

Investor Relations Michael McKenney, 978-776-2000 IR@kadant.com Media Relations Wes Martz, 978-776-2000 media@kadant.com 19 CONTACTS

First Quarter 2026 Business Review 20 APPENDIX May 6, 2026

Revenue by Customer Location ($ in thousands) Q1 26 Q1 25 Change Change Excluding Acquisitions and FX* North America $166,563 $159,870 $6,693 $(9,287) Europe 62,202 49,341 12,861 941 Asia 30,756 18,702 12,054 5,859 Rest of World 21,984 11,297 10,687 960 Total $281,505 $239,210 $42,295 $(1,527) KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 21 Percentage of Parts and Consumables Revenue Q1 26 Q1 25 Flow Control 77% 76% Industrial Processing 76% 80% Material Handling 66% 65% Consolidated 74 % 75 %

Adjusted EPS* Reconciliation Q1 26 Q1 25 EPS, as Reported $2.16 $2.04 Adjustments, Net of Tax Intangible Asset Amortization Expense 0.53 0.40 Profit in Inventory and Backlog Amortization Expense 0.09 0.03 Acquisition Costs 0.06 0.03 Adjusted EPS* $2.84 $2.50 KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 22 ($ in thousands) Q1 26 Q1 25 Operating Cash Flow $21,916 $22,835 Capital Expenditures (3,258) (3,836) Free Cash Flow* $18,658 $18,999 Free Cash Flow* Reconciliation

Adjusted EBITDA* Reconciliation ($ in thousands) Q1 26 Q1 25 Net Income Attributable to Kadant $25,509 $24,063 Net Income Attributable to Noncontrolling Interests 312 374 Provision for Income Taxes 10,142 7,828 Interest Expense, Net 4,133 3,305 Other Expense, Net 13 16 Intangible Asset Amortization Expense 8,385 6,320 Profit in Inventory Amortization Expense 1,409 11 Backlog Amortization Expense — 379 Acquisition Costs 674 337 Indemnification Asset Provision — (29) Depreciation Expense 6,262 5,314 Adjusted EBITDA* $56,839 $47,918 Adjusted EBITDA Margin* 20.2 % 20.0 % KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 23

Notes PRESENTATION NOTES • All references to EPS (earnings per share) are to our EPS as calculated on a diluted basis. • Adjusted EPS* has been calculated using our new methodology announced on February 19, 2026 to exclude intangible asset amortization expense. • Percent change in slides 6-9 is calculated using actual numbers reported in our press release dated May 5, 2026. FOOTNOTES 1) Leverage ratio is calculated by dividing total debt by EBITDA. For purposes of this calculation, EBITDA is calculated by adding or subtracting certain items from Adjusted EBITDA, as required by our amended and restated credit facility (“Credit Facility”). Our Credit Facility defines total debt as debt less worldwide cash of up to $50 million. 2) Working capital is defined as current assets less current liabilities, excluding cash and debt. LTM is defined as last 12 months. 3) Cash conversion days is based on days in receivables plus days in inventory less days in accounts payable. KAI 1Q26 BUSINESS REVIEW– MAY 2026 | © 2026 KADANT INC. ALL RIGHTS RESERVED. 24

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dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration