Kadant Inc · NYSE:KAI

Kadant — Investor Presentation (September 2026)

44 slides from Kadant's investor presentation, September 2026

Slide 1: Investor Presentation
Investor Presentation Kadant Inc. (NYSE: KAI) September 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements The following constitutes a “Safe Harbor” statement under the Private conditions affecting the global mining industry; demand for coal, including Securities Litigation Reform Act of 1995: This presentation contains forward- economic and environmental risks associated with
Slide 3: Use of Non-GAAP Financial Measures & Company Estimates
Use of Non-GAAP Financial Measures & Company Estimates In addition to the financial measures prepared in accordance with U.S. when comparing such results to previous periods or forecasts and to the generally accepted accounting principles (GAAP), we use certain non-GAAP performance of our competitor
Slide 4: Table of Contents
Table of Contents Company Overview 5 Operating Segments 13 Growth Trends 18 Acquisition Strategy 24 Financial Performance 26 Key Takeaways 33 Appendix 34 INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 4
Slide 6: Company Attributes
Company Attributes Kadant’s DNA • Technologies that drive Sustainable Industrial Processing® • Stable business model with recurring revenue of high-impact solutions with “sticky” customer relationships • Over 70% of revenue from parts and consumables • Growing end markets driven by global macro tren
Slide 7: Corporate Responsibility
Corporate Responsibility Our sustainability-driven culture enables responsible growth • Named one of America’s Greatest Companies • Named one of America’s Greatest Workplaces for Families and Parents • Named one of America’s Most Responsible Companies for six consecutive years • Named one of America
Slide 8: Global Platform, Local Presence
Global Platform, Local Presence Geographic revenue (FY 2025) is attributed to countries based on customer location NORTH AMERICA EUROPE $656 million $242 million ASIA $88 million Rest of World $66 million INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 8
Slide 9: Accelerating Growth: Diversifying Our Strategic Mix
Accelerating Growth: Diversifying Our Strategic Mix Aligning growth with long-term strategic vision • Secular growth trends • Infrastructure investment needs • Global supply chain trends • Evolution of the circular economy 25% 13% 36% 3% $1.05 billion 42% FY 2025 36% $515 million $270 million FY 201
Slide 10: Revenue Mix
Revenue Mix Business model supports higher margins and strong cash flows FY 2025 29% 71% Aftermarket Parts Capital INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 10
Slide 11: Revenue by Geographic Location
Revenue by Geographic Location FY 2025 REVENUE BY CUSTOMER LOCATION 8% 6% 23% 51% 12% U.S. Canada & Mexico Europe Asia ROW INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 11
Slide 12: Revenue by End Market
Revenue by End Market FY 2025 REVENUE BY MAJOR END MARKETS Packaging General 20% Industrial 38% Paper Wood 20% Processing 22% INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 12
Slide 14: Strategic Operating Segments
Strategic Operating Segments % 2025 REVENUE % 2025 AFTERMARKET FLOW CONTROL 36% Custom-engineered products and technologies that impact 75% the flow of fluids. INDUSTRIAL PROCESSING 39% Products and technologies used in the processing of wood, virgin and recycled fibers, food, and energy. 77% MATERI
Slide 15: Primary Markets: Flow Control
Primary Markets FLOW CONTROL PACKAGING, PAPER, TISSUE CONVERTING ENERGY FOOD & BEVERAGE DEFENSE & AEROSPACE SYNTHETIC/CARBON FIBER FACTORY AUTOMATION SPECIALTY MACHINERY INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 15
Slide 16: Primary Markets: Industrial Processing
Primary Markets INDUSTRIAL PROCESSING CORRUGATED & PACKAGING TISSUE & TOWEL KRAFT PULP ENGINEERED WOOD DIMENSIONAL LUMBER MASS TIMBER RECYCLING & WASTE AGRICULTURE & BIOFUELS INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 16
Slide 17: Primary Markets: Material Handling
Primary Markets MATERIAL HANDLING AGGREGATE CEMENT COPPER FOOD RECYCLERS & WASTE MGMT WASTE-TO-ENERGY PAPER & PACKAGING PHARMACEUTICALS INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 17
Slide 19: Global Trends Supporting Growth Opportunities
Global Trends Supporting Growth Opportunities Growing energy demand increasing demand for energy-optimized systems Disruptive technologies increasing adoption of automation, advanced robotics, artificial intelligence, and rapidly expanding connectivity within process industries Urbanization and agin
Slide 20: Growing Energy Demand
Growing Energy Demand Increasing demand for energy-optimized systems Biofuels Lithium-Ion Battery Waste to Energy Factory Modernization INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 20
Slide 21: Disruptive Technologies
Disruptive Technologies Enabling new applications by increasing adoption of automation, advanced robotics, artificial intelligence, and rapidly expanding connectivity within process industries Automation Remote Monitoring Digital Simulation Artificial Intelligence INVESTOR PRESENTATION – SEPTEMBER 2
Slide 22: Urbanization and Demographic Shifts
Urbanization and Demographic Shifts Stimulating demand for convenience goods; recycling and waste management; and investments in infrastructure Convenience Goods Recycling, Waste Mgmt Timber, Engineered Wood Aggregates INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 22
Slide 23: Sustainability and Environmental Responsibility
Sustainability and Environmental Responsibility Fueling demand for increased use of recyclable (cellulose) materials to preserve and secure natural resources Molded Pulp Reuseable Fiber Mill Waste Upcycling Cellulose Coating INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 23
Slide 25: Acquisition Criteria
Acquisition Criteria Accelerate growth through acquisitions aligned with strategic vision • Enhances our offering of highly engineered products serving critical process roles • Serves end markets with attractive profiles; market-leading positions • Broadens and strengthens our culture • Demonstrates
Slide 27: Revenue and Adjusted EPS*
Revenue and Adjusted EPS* REVENUE ADJUSTED EPS* $1,300 $11.92 $13.00 $11.22 $11.01 $10.50 $1,100 $11.00 $9.09 CAGR 2021-2025 $900 $1,053 $1,052 $9.00 $958 $905 Revenue Adjusted EPS* $700 $787 $7.00 7.5% 4.9% $500 $5.00 $300 $3.00 $100 $1.00 -$100 2021 2022 2023 2024 2025 -$1.00 INVESTOR PRESENTATION
Slide 28: Adjusted Gross Margin* and Adjusted SG&A* Metrics
Adjusted Gross Margin* and Adjusted SG&A* Metrics Adjusted Gross Margin* Adjusted SG&A* (% of revenue) 45.4% 44.7% 43.3% 43.5% 43.0% 25.5% 23.6% 23.5% 22.3% 22.6% 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 28
Slide 29: Adjusted EBITDA* and Cash Flow
Adjusted EBITDA* and Cash Flow Adjusted EBITDA* Cash Flow ADJUSTED EBITDA* ADJUSTED EBITDA MARGIN* 21.8% 20.9% 21.0% 22.0% $171.3 $250 20.6% $162.4 $165.5 20.3% $155.3 $229.7 20.0% $149.6 $154.3 $200 $216.3 $201.3 $141.1 $135.9 $189.1 18.0% $102.6 $150 $159.4 16.0% $100 $84.8 14.0% $50 12.0% $0 10.0
Slide 30: Leverage Ratio
Leverage Ratio1 Our borrowing capacity at Q2 2026 includes: • $249 million under our revolving credit facility 1.33 1.34 • $200 million of uncommitted 0.99 borrowing capacity 0.74 Leverage Ratio at Q2 2026 of 1.72 0.27 2021 2022 2023 2024 2025 INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT I
Slide 31: Effective Capital Allocation
Effective Capital Allocation Uses of Cash Quarterly Dividends $0.36 $0.34 Uses 7%of Cash $0.32 $0.29 8% $0.24 $0.25 $0.26 Acquisitions $0.21 $0.22 $0.23 $0.19 11% Capex $0.17 2016- $0.15 R&D 2025 Cash dividends 74% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Our board of directo
Slide 32: Value Creation for Kadant Shareholders
Value Creation for Kadant Shareholders ($ in millions, except per share amounts) REVENUE ADJUSTED EBITDA* ADJUSTED EPS* CAGR: 9.5% CAGR: 13.8% CAGR: 13.9% INVESTOR PRESENTATION – SEPTEMBER 2026 | © 2026 KADANT INC. 32
Slide 33: Key Takeaways
Key Takeaways STRONG EARNINGS & PROVEN TRACK RECORD AS GROWTH-ORIENTED PROFITABILITY A SUSTAINABILITY LEADER BUSINESS MODEL • Over 70% of revenue from • Delivering engineered • Growing end markets driven aftermarket parts systems and technologies by global macro trends to enable sustainable • Excell
Slide 35: Financial Highlights
Financial Highlights ($ in millions, except per share amounts) Q2 2026 Q2 2025 Change Q2 2026 YTD Q2 2025 YTD Change Bookings $312.1 $269.4 15.9% $632.9 $525.6 20.4% Revenue $312.9 $255.3 22.6% $594.4 $494.5 20.2% Gross Margin 43.8% 45.9% -210 bps 44.4% 46.0% -160 bps Net Income2 $32.5 $26.2 24.1% $
Slide 36: FY 25 Financial Highlights
FY 25 Financial Highlights ($ in millions, except per share amounts) 2025 2024 Change Bookings $1,033.9 $981.1 5.4% Revenue $1,052.2 $1,053.4 -0.1% Gross Margin 45.2% 44.3% 90 bps Net Income2 $102.0 $111.6 -8.6% Adjusted EBITDA* $216.3 $229.7 -5.8% Adjusted EBITDA Margin* 20.6% 21.8% -120 bps GAAP E
Slide 37: FX Translation and Acquisition Impact
FX Translation and Acquisition Impact ($ in millions) PARTS & CONSUMABLES PARTS & CONSUMABLES REVENUE BOOKINGS REVENUE BOOKINGS As Reported $1,052.2 $1,033.9 $748.4 $742.8 Growth -0.1% 5.4% 7.9% 7.4% 2025 Growth excluding FX* -0.8% 4.9% 7.5% 7.0% Growth excluding FX and Acquisitions* -4.3% 1.4% 3.4%
Slide 38: Balance Sheet Data
Balance Sheet Data ($ in millions) Jul. 4, 2026 Jan. 3, 2026 Cash, Cash Equivalents, and Restricted Cash $137.6 $122.7 Accounts Receivable, net 168.7 158.6 Inventories 216.5 206.9 Contract Assets 9.0 6.6 Property, Plant, and Equipment, net 228.8 196.6 Intangible Assets 353.9 350.4 Goodwill 660.9 555
Slide 39: Adjusted EPS* Reconciliation
Adjusted EPS* Reconciliation Q2 2025 Q2 2026 2021 2022 2023 2024 2025 Q2 2025 Q2 2026 YTD YTD GAAP EPS $ 7.21 $ 10.35 $ 9.90 $ 9.48 $ 8.65 $ 2.22 $ 2.75 $ 4.26 $ 4.91 Amortization of Acquired Intangible Assets, net of tax 1.26 1.27 1.18 1.65 1.75 0.40 0.55 0.81 1.08 Amortization of Acquired Profit i
Slide 40: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation ($ in millions) Q2 2025 Q2 2026 2021 2022 2023 2024 2025 Q2 2025 Q2 2026 YTD YTD Operating Cash Flow $ 162.4 $ 102.6 $ 165.5 $ 155.3 $ 171.3 $ 40.5 $ 53.5 $ 63.3 $ 75.4 Capital Expenditures (12.8) (28.2) (31.8) (21.0) (17.0) (4.0) (10.9) (7.8) (14.2) Free Cash
Slide 41: Adjusted EBITDA* Reconciliation
Adjusted EBITDA* Reconciliation ($ in millions) Q2 Q2 Q2 2025 Q2 2026 2021 2022 2023 2024 2025 2025 2026 YTD YTD Net Income Attributable to Kadant $ 84.0 $ 120.9 $ 116.1 $ 111.6 $ 102.0 $ 26.2 $ 32.5 $ 50.2 $ 58.0 Net Income Attributable to Noncontrolling Interests 0.8 0.8 0.7 1.0 1.7 0.5 0.4 0.9 0.
Slide 42: Adjusted Gross Margin* Reconciliation
Adjusted Gross Margin* Reconciliation ($ in millions) Q2 2025 Q2 2026 2021 2022 2023 2024 2025 Q2 2025 Q2 2026 YTD YTD Revenue $ 786.6 $ 904.7 $ 957.7 $ 1,053.4 $ 1,052.2 $ 255.3 $ 312.9 $ 494.5 $ 594.4 Cost of Revenue (449.2) (515.2) (541.4) (587.2) (576.5) (138.2) (175.9) (267.1) (330.7) Gross Pro
Slide 43: Adjusted SG&A* Reconciliation
Adjusted SG&A* Reconciliation ($ in millions) Q2 2025 Q2 2026 2021 2022 2023 2024 2025 Q2 2025 Q2 2026 YTD YTD SG&A $ 208.8 $ 224.4 $ 236.3 $ 279.9 $ 301.9 $ 73.9 $ 81.6 $ 145.2 $ 164.2 Amortization of Acquired Intangible Assets (19.6) (19.8) (18.5) (25.8) (27.4) (6.3) (8.6) (12.7) (17.0) Acquisitio
Slide 44: Notes
Notes PRESENTATION NOTES • All references to EPS (earnings per share) are to our EPS as calculated on a diluted basis. Certain per share amounts in the tables may not foot due to rounding. • Percent change in slide 35 for the second quarter and six-month period is calculated using numbers reported i

Kadant — Investor Presentation (September 2026) on 6ix

Kadant — Investor Presentation (September 2026)

Slide 1: Investor Presentation

Slide 2: Forward-Looking Statements

Slide 3: Use of Non-GAAP Financial Measures & Company Estimates

Slide 4: Table of Contents

Slide 5: Company Overview

Slide 6: Company Attributes

Slide 7: Corporate Responsibility

Slide 8: Global Platform, Local Presence

Slide 9: Accelerating Growth: Diversifying Our Strategic Mix

Slide 10: Revenue Mix

Slide 11: Revenue by Geographic Location

Slide 12: Revenue by End Market

Slide 13: Operating Segments

Slide 14: Strategic Operating Segments

Slide 15: Primary Markets: Flow Control

Slide 16: Primary Markets: Industrial Processing

Slide 17: Primary Markets: Material Handling

Slide 18: Growth Trends

Slide 19: Global Trends Supporting Growth Opportunities

Slide 20: Growing Energy Demand

Slide 21: Disruptive Technologies

Slide 22: Urbanization and Demographic Shifts

Slide 23: Sustainability and Environmental Responsibility

Slide 24: Acquisition Strategy

Slide 25: Acquisition Criteria

Slide 26: Financial Performance

Slide 27: Revenue and Adjusted EPS*

Slide 28: Adjusted Gross Margin* and Adjusted SG&A* Metrics

Slide 29: Adjusted EBITDA* and Cash Flow

Slide 30: Leverage Ratio

Slide 31: Effective Capital Allocation

Slide 32: Value Creation for Kadant Shareholders

Slide 33: Key Takeaways

Slide 34: Appendix

Slide 35: Financial Highlights

Slide 36: FY 25 Financial Highlights

Slide 37: FX Translation and Acquisition Impact

Slide 38: Balance Sheet Data

Slide 39: Adjusted EPS* Reconciliation

Slide 40: Adjusted Free Cash Flow Reconciliation

Slide 41: Adjusted EBITDA* Reconciliation

Slide 42: Adjusted Gross Margin* Reconciliation

Slide 43: Adjusted SG&A* Reconciliation

Slide 44: Notes