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    Kennametal Announces Fiscal 2024 Third Quarter Results

    5/8/24 6:30:00 AM ET
    $KMT
    Industrial Machinery/Components
    Industrials
    Get the next $KMT alert in real time by email
    • Strong YTD cash from operations of $163 million compared to $126 million in the prior year
    • Earnings per diluted share (EPS) of $0.24 and adjusted EPS of $0.30
    • Returned approximately $31 million to shareholders; $15 million in share repurchases and $16 million in dividends

    PITTSBURGH, May 8, 2024 /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) (the "Company") today reported results for its fiscal 2024 third quarter ended March 31, 2024, with sales of $516 million, compared to $536 million in the prior year quarter, and earnings per diluted share (EPS) of $0.24, compared with $0.39 in the prior year quarter. Adjusted EPS was $0.30 in the current quarter, whereas EPS was not adjusted in the prior year quarter.

    "Results this quarter were in line with our expectations, and we once again generated strong cash from operations despite market softness, particularly in the energy end market and a continued slow recovery in China," said Christopher Rossi, President and CEO.

    Rossi continued, "We have tightened our full year outlook to align with current market conditions. As always, we remain focused on the things we can control, including driving share gain and productivity. We are expecting to deliver approximately $35 million in annualized savings in fiscal 2024, which is excellent progress toward our $100 million productivity target by the end of fiscal 2027. Finally, as I prepare to leave Kennametal at the end of this month, I am confident that my successor, Sanjay Chowbey, and his leadership team will continue to pursue above-market growth and margin expansion while deploying a balanced capital allocation strategy."

    Fiscal 2024 Third Quarter Key Developments

    Sales of $516 million decreased 4 percent from $536 million in the prior year quarter, reflecting an organic sales decline of 2 percent, an unfavorable business days effect of 1 percent and an unfavorable currency exchange effect of 1 percent.

    During the quarter, the Company achieved restructuring savings of approximately $6 million from the previously announced action to streamline our cost structure while continuing to invest in our high-return Commercial and Operational Excellence initiatives. This action is expected to deliver annualized run rate pre-tax savings of approximately $35 million by the end of fiscal 2024. Restructuring and related charges of $6 million were recognized during the quarter in connection with the execution of this initiative.

    Operating income was $35 million, or 6.8 percent of sales, compared to $52 million, or 9.8 percent of sales, in the prior year quarter. The decrease in operating income was primarily due to lower sales and production volumes, restructuring charges of approximately $6 million, higher wages and general inflation, unfavorable foreign currency exchange of approximately $2 million and the unfavorable timing of pricing compared to raw material costs in the Infrastructure segment. These factors were partially offset by higher pricing in the Metal Cutting segment and restructuring savings of approximately $6 million. Adjusted operating income was $42 million, or 8.1 percent margin, in the current quarter, whereas operating income was not adjusted in the prior year quarter.

    The reported effective tax rate (ETR) for the quarter was 27.4 percent compared to 24.4 percent in the prior year quarter. The increase in the ETR year-over-year was driven by geographical mix, partially offset by discrete tax benefits recorded in the current year quarter related to provision to return adjustments. Adjusted ETR was 26.5 percent in the current quarter, whereas ETR was not adjusted in the prior year quarter.

    Year-to-date net cash flow from operating activities was $163 million compared to $126 million in the prior year period. The change in net cash flow from operating activities was driven primarily by working capital changes including improved inventory levels, partially offset by lower net income compared to the prior year period. Year-to-date free operating cash flow (FOCF) was $84 million compared to $60 million in the prior year period. The increase in FOCF was driven primarily by working capital changes, including improved inventory levels, partially offset by higher capital expenditures and lower net income compared to the prior year period.

    The Company paid $16 million in cash dividends to Kennametal shareholders during the quarter. The Company has a long history of consistently paying dividends to shareholders since its listing on the New York Stock Exchange in 1967.

    During the quarter, the Company repurchased 609 thousand shares of Kennametal common stock for $15 million under its share repurchase program. Inception-to-date the Company has repurchased 6.5 million shares of common stock for $178 million under the existing $200 million program. In February 2024, the Board of Directors of the Company authorized an additional $200 million, three-year share repurchase program.

    Outlook

    The Company's expectations for the full fiscal year 2024 are as follows:

    Annual Outlook:

    • Sales now expected to be $2.030 - $2.050 billion
    • Interest expense is expected to be approximately $28 million
    • Adjusted EPS is now expected to be $1.40 - $1.55
    • Pricing actions expected to cover raw material costs, wages and general inflation
    • Free operating cash flow now expected to be greater than 125 percent of adjusted net income
    • Primary working capital as a percent of sales maintained at approximately 32 percent throughout the year
    • Capital spending expected to be approximately $100 - $110 million
    • Adjusted ETR is expected to be approximately 21 percent
    • Share repurchase program to continue

    The Company will provide more details regarding its Outlook during its quarterly earnings conference call.

    Segment Results

    Metal Cutting sales of $327 million decreased 2 percent from $334 million in the prior year quarter, driven by flat organic sales, an unfavorable currency exchange effect of 1 percent and an unfavorable business days effect of 1 percent. Operating income was $31 million, or 9.4 percent of sales, compared to $44 million, or 13.1 percent of sales, in the prior year quarter. The decrease in operating income was primarily due to lower sales and production volumes, restructuring charges of approximately $4 million, unfavorable foreign currency exchange of approximately $2 million, higher wages and general inflation and a gain of approximately $1 million on a property sale in the prior year quarter that did not repeat. These factors were partially offset by higher pricing and restructuring savings of approximately $5 million. Adjusted operating income was $35 million, or 10.8 percent margin, in the current quarter, whereas operating income was not adjusted in the prior year quarter.

    Infrastructure sales of $189 million decreased 7 percent from $203 million in the prior year quarter, driven by an organic sales decline of 5 percent, an unfavorable currency exchange effect of 1 percent and an unfavorable business days effect of 1 percent. Operating income was $5 million, or 2.7 percent of sales, compared to $10 million, or 4.8 percent of sales, in the prior year quarter. The decrease in operating income was primarily due to lower sales volumes, restructuring charges of approximately $2 million, higher wages and general inflation and the unfavorable timing of pricing compared to raw material costs. These factors were partially offset by restructuring savings of approximately $1 million. Adjusted operating income was $7 million, or 3.8 percent margin, in the current quarter, whereas operating income was not adjusted in the prior year quarter.

    Dividend Declared

    Kennametal announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share. The dividend is payable on May 28, 2024 to shareholders of record as of the close of business on May 14, 2024.

    The Company will host a conference call to discuss its third quarter fiscal 2024 results on Wednesday, May 8, 2024 at 9:30 a.m. Eastern Time. The conference call will be broadcast via real-time audio on Kennametal's investor relations website at https://investors.kennametal.com/ - click "Event" (located in the blue Quarterly Earnings block).

    This earnings release contains non-GAAP financial measures. Reconciliations and descriptions of all non-GAAP financial measures are set forth in the tables that follow.

    Certain statements in this release may be forward-looking in nature, or "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements that do not relate strictly to historical or current facts. For example, statements about Kennametal's outlook for sales, interest expense, adjusted EPS, FOCF, primary working capital, capital expenditures and adjusted effective tax rate for the full year of fiscal 2024 and our expectations regarding future growth and financial performance are forward-looking statements. Any forward-looking statements are based on current knowledge, expectations and estimates that involve inherent risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, our actual results could vary materially from our current expectations. There are a number of factors that could cause our actual results to differ from those indicated in the forward-looking statements. They include: uncertainties related to changes in macroeconomic and/or global conditions, including as a result of increased inflation and Russia's invasion of Ukraine and the resulting sanctions on Russia; the adverse effects of the COVID-19 pandemic and its impacts on our business operations, financial results and financial position and on the industries in which we operate and the global economy generally; other economic recession; our ability to achieve all anticipated benefits of restructuring, simplification and modernization initiatives; Commercial Excellence growth initiatives, Operational Excellence initiatives, our foreign operations and international markets, such as currency exchange rates, different regulatory environments, trade barriers, exchange controls, and social and political instability, including the conflicts in Ukraine and Gaza; changes in the regulatory environment in which we operate, including environmental, health and safety regulations; potential for future goodwill and other intangible asset impairment charges; our ability to protect and defend our intellectual property; continuity of information technology infrastructure; competition; our ability to retain our management and employees; demands on management resources; availability and cost of the raw materials we use to manufacture our products; product liability claims; integrating acquisitions and achieving the expected savings and synergies; global or regional catastrophic events; demand for and market acceptance of our products; business divestitures; energy costs; commodity prices; labor relations; and implementation of environmental remediation matters. Many of these risks and other risks are more fully described in Kennametal's latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission. We can give no assurance that any goal or plan set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of future events or developments.

    About Kennametal

    With over 80 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,700 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2.1 billion in revenues in fiscal 2023. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

    FINANCIAL HIGHLIGHTS



    CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)









    Three Months Ended

    March 31,

    Nine Months Ended

    March 31,

    (in thousands, except per share amounts)

    2024



    2023

    2024



    2023

    Sales

    $   515,794



    $   536,036

    $ 1,503,591



    $ 1,527,949

    Cost of goods sold

    362,532



    368,122

    1,047,834



    1,057,177

         Gross profit

    153,262



    167,914

    455,757



    470,772

    Operating expense

    108,684



    113,273

    327,674



    327,308

    Restructuring and other charges, net

    6,465



    (994)

    10,585



    (2,499)

    Amortization of intangibles

    2,886



    3,164

    8,674



    9,476

         Operating income

    35,227



    52,471

    108,824



    136,487

    Interest expense

    6,777



    7,747

    20,225



    21,399

    Other (income) expense, net

    (76)



    986

    (674)



    2,584

    Income before income taxes

    28,526



    43,738

    89,273



    112,504

    Provision for income taxes

    7,816



    10,672

    13,866



    26,878

    Net income

    20,710



    33,066

    75,407



    85,626

    Less: Net income attributable to noncontrolling interests

    1,734



    1,129

    3,266



    3,594

    Net income attributable to Kennametal

    $     18,976



    $     31,937

    $     72,141



    $     82,032

    PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS



    Basic earnings per share

    $         0.24



    $        0.40

    $        0.91



    $         1.01

    Diluted earnings per share

    $         0.24



    $        0.39

    $        0.90



    $         1.01

    Basic weighted average shares outstanding

    79,229



    80,611

    79,655



    80,967

    Diluted weighted average shares outstanding

    79,849



    81,281

    80,197



    81,525

     

    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)









    (in thousands)

    March 31, 2024



    June 30, 2023

     

     ASSETS







    Cash and cash equivalents

    $                      92,119



    $           106,021

    Accounts receivable, net

    303,456



    307,313

    Inventories

    547,654



    557,630

    Other current assets

    56,708



    55,825

    Total current assets

    999,937



    1,026,789

    Property, plant and equipment, net

    947,709



    969,068

    Goodwill and other intangible assets, net

    356,557



    362,715

    Other assets

    214,442



    188,662

    Total assets

    $                 2,518,645



    $        2,547,234

     

     LIABILITIES







    Revolving and other lines of credit and notes payable

    $                      12,302



    $                  689

    Accounts payable

    192,769



    203,341

    Other current liabilities

    208,174



    229,945

    Total current liabilities

    413,245



    433,975

    Long-term debt

    595,778



    595,172

    Other liabilities

    203,728



    203,919

    Total liabilities

    1,212,751



    1,233,066

    KENNAMETAL SHAREHOLDERS' EQUITY

    1,264,559



    1,275,447

    NONCONTROLLING INTERESTS

    41,335



    38,721

    Total liabilities and equity

    $                 2,518,645



    $        2,547,234

     

    SEGMENT DATA (UNAUDITED)

    Three Months Ended

    March 31,

    Nine Months Ended

    March 31,

    (in thousands)

    2024



    2023

    2024



    2023

    Sales:













    Metal Cutting

    $     326,561



    $     333,507

    $     946,237



    $     932,912

    Infrastructure

    189,233



    202,529

    557,354



    595,037

    Total sales

    $     515,794



    $     536,036

    $  1,503,591



    $  1,527,949

    Sales By Geographic Region:













    Americas

    $     252,921



    $     269,498

    $     738,566



    $     773,252

    EMEA

    164,238



    163,888

    465,874



    437,548

    Asia Pacific

    98,635



    102,650

    299,151



    317,149

    Total sales

    $     515,794



    $     536,036

    $  1,503,591



    $  1,527,949

    Operating income:













    Metal Cutting

    $       30,809



    $       43,765

    $       88,453



    $       98,593

    Infrastructure

    5,140



    9,658

    22,020



    40,543

    Corporate (1)

    (722)



    (952)

    (1,649)



    (2,649)

    Total operating income

    $       35,227



    $       52,471

    $     108,824



    $     136,487

    (1) Represents unallocated corporate expenses.

     

    NON-GAAP RECONCILIATIONS (UNAUDITED)

    In addition to reported results under generally accepted accounting principles in the United States of America (GAAP), the following financial highlight tables include, where appropriate, a reconciliation of adjusted results including: operating income and margin; ETR; net income attributable to Kennametal; diluted EPS; Metal Cutting operating income and margin; Infrastructure operating income and margin; FOCF; and consolidated and segment organic sales growth (all of which are non-GAAP financial measures), to the most directly comparable GAAP financial measures. Adjustments for the three months ended March 31, 2024 include restructuring and related charges and differences in projected annual tax rates. There were no adjustments for the three months ended March 31, 2023. For those adjustments that are presented 'net of tax', the tax effect of the adjustment can be derived by calculating the difference between the pre-tax and the post-tax adjustments presented. The tax effect on adjustments is calculated by preparing an overall tax calculation including the adjustments and then a tax calculation excluding the adjustments. The difference between these calculations results in the tax impact of the adjustments.

    Management believes that presentation of these non-GAAP financial measures provides useful information about the results of operations of the Company for the current and past periods. Management believes that investors should have available the same information that management uses to assess operating performance, determine compensation and assess the capital structure of the Company. These non-GAAP financial measures should not be considered in isolation or as a substitute for the most comparable GAAP financial measures. Investors are cautioned that non-GAAP financial measures used by management may not be comparable to non-GAAP financial measures used by other companies. Reconciliations and descriptions of all non-GAAP financial measures are set forth in the disclosures below.

    Reconciliations to the most directly comparable GAAP financial measures for the following forward-looking non-GAAP financial measures for the full fiscal year of 2024 have not been provided, including but not limited to: FOCF, adjusted operating income, adjusted net income, adjusted EPS, adjusted ETR and primary working capital. The most comparable GAAP financial measures are net cash flow from operating activities, operating income, net income attributable to Kennametal, EPS, ETR and working capital (defined as current assets less current liabilities), respectively. Primary working capital is defined as accounts receivable, net plus inventories, net minus accounts payable. Because the non-GAAP financial measures on a forward-looking basis are subject to uncertainty and variability as they are dependent on many factors - including, but not limited to, the effect of foreign currency exchange fluctuations, impacts from potential acquisitions or divestitures, gains or losses on the potential sale of businesses or other assets, restructuring costs, asset impairment charges, gains or losses from early extinguishment of debt, the tax impact of the items above and the impact of tax law changes or other tax matters - reconciliations to the most directly comparable forward-looking GAAP financial measures are not available without unreasonable effort.

    THREE MONTHS ENDED MARCH 31, 2024 (UNAUDITED)



    (in thousands, except percents and

    per share data)

    Sales

    Operating

    income

    ETR

    Net

    income(2)

    Diluted EPS

    Reported results

    $      515,794

    35,227

    27.4 %

    $        18,976

    $           0.24

    Reported operating margin



    6.8 %







    Restructuring and related charges

    —

    6,465

    20.4

    5,098

    0.06

    Differences in projected annual tax rates

    —

    —

    (21.3)

    (141)

    —

    Adjusted results

    $      515,794

    $     41,692

    26.5 %

    $        23,933

    $           0.30

    Adjusted operating margin



    8.1 %







    (2) Attributable to Kennametal.

     

    THREE MONTHS ENDED MARCH 31, 2024 (UNAUDITED)



    Metal Cutting

    Infrastructure

    (in thousands, except percents)

    Sales

    Operating

    income

    Sales

    Operating

    income

    Reported results

    $   326,561

    $   30,809

    $    189,233

    $    5,140

    Reported operating margin



    9.4 %



    2.7 %

    Restructuring and related charges

    —

    4,493

    —

    1,972

    Adjusted results

    $   326,561

    $   35,302

    $    189,233

    $    7,112

    Adjusted operating margin



    10.8 %



    3.8 %

     

    Free Operating Cash Flow (FOCF)

    FOCF is a non-GAAP financial measure and is defined by the Company as net cash flow provided by operating activities (which is the most directly comparable GAAP financial measure) less capital expenditures plus proceeds from disposals of fixed assets. Management considers FOCF to be an important indicator of the Company's cash generating capability because it better represents cash generated from operations that can be used for dividends, debt repayment, strategic initiatives (such as acquisitions) and other investing and financing activities.

    FREE OPERATING CASH FLOW (UNAUDITED)



    Nine Months Ended

    March 31,

    (in thousands)



    2024



    2023

    Net cash flow provided by operating activities



    $    163,460



    $    126,182

    Purchases of property, plant and equipment



    (84,240)



    (71,083)

    Disposals of property, plant and equipment



    5,270



    4,774

    Free operating cash flow



    $      84,490



    $      59,873

     

    Organic Sales Growth (Decline)

    Organic sales growth (decline) is a non-GAAP financial measure of sales growth (decline) (which is the most directly comparable GAAP measure) excluding the effects of acquisitions, divestitures, business days and foreign currency exchange from year-over-year comparisons. Management believes this measure provides investors with a supplemental understanding of underlying sales trends by providing sales growth on a consistent basis. Management reports organic sales growth (decline) at the consolidated and segment levels.

    ORGANIC SALES DECLINE (UNAUDITED)







    Three Months Ended March 31, 2024



    Metal Cutting



    Infrastructure



    Total

    Organic sales decline



    — %



    (5) %



    (2) %

    Foreign currency exchange effect (3)



    (1)



    (1)



    (1)

    Business days effect (4)



    (1)



    (1)



    (1)

    Sales decline



    (2) %



    (7) %



    (4) %

    (3) Foreign currency exchange effect is calculated by dividing the difference between current period sales and current period sales at prior period foreign exchange rates by prior period sales.

    (4) Business days effect is calculated by dividing the year-over-year change in weighted average working days (based on mix of sales by country) by prior period weighted average working days.

     

    Cision View original content:https://www.prnewswire.com/news-releases/kennametal-announces-fiscal-2024-third-quarter-results-302138971.html

    SOURCE Kennametal Inc.

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      PITTSBURGH,  May 1, 2025  /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) announced the election of Shelley Bausch to its Board of Directors, effective May 1, 2025. Bausch will replace Cindy L. Davis, who has served on the Kennametal Board of Directors since November 2012 and will be retiring on September 1, 2025. Bausch is the recently retired President, Global Industrial Coatings at Axalta, a global leader in the coatings industry. She led Axalta's Industrial Coatings businesses, which include energy solutions, general industrial and powder coatings, among others. William M. Lamb

      5/1/25 6:45:00 AM ET
      $KMT
      Industrial Machinery/Components
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    • Kennametal Appoints Faisal Hamadi as President of Infrastructure Segment

      PITTSBURGH, Jan. 15, 2025 /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) announced today that Faisal Hamadi, currently Vice President of Kennametal's Value Creation Systems, will succeed Franklin Cardenas as President of the Company's Infrastructure segment, effective January 20, 2025. "I want to thank Franklin for his years of service and many contributions to Kennametal," said Sanjay Chowbey, President and CEO. "We wish him success in his future endeavors and appreciate his ongoing partnership with Faisal to ensure a seamless transition." Hamadi joined Kennametal in July 2024 fr

      1/15/25 6:45:00 AM ET
      $KMT
      Industrial Machinery/Components
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    • Kennametal Appoints Sanjay Chowbey as President & CEO effective June 1, 2024; Christopher Rossi to Retire on May 31

      PITTSBURGH, March 14, 2024 /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) announced today that Sanjay Chowbey, currently Vice President, Kennametal Inc. and President, Metal Cutting Segment, will succeed Christopher Rossi as President & CEO. Rossi has decided to retire from the company after nearly seven years as CEO, effective May 31, 2024. Chowbey was unanimously appointed by the Board of Directors as Rossi's successor, effective June 1, 2024. "On behalf of the entire Board, I want to thank Chris for his many contributions to Kennametal and congratulate Sanjay on his well-deserv

      3/14/24 4:05:00 PM ET
      $KMT
      Industrial Machinery/Components
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    • AGCO Announces Chief Financial Officer Succession

      Andy Beck to retire as Chief Financial Officer Damon Audia appointed Chief Financial Officer effective July 1, 2022 AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, announced today that its Board of Directors has appointed Damon Audia to succeed Andy Beck as Senior Vice President and Chief Financial Officer (CFO) effective July 1, 2022. Mr. Audia joins AGCO from Kennametal Inc. (NYSE:KMT), an industrial technology leader specializing in tooling and wear-resistant solutions, where he served as the CFO since August 2018. Andy Beck will retire from AGCO in early 2023. He will serve as S

      6/15/22 8:00:00 AM ET
      $AGCO
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      Industrial Machinery/Components
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    • Amendment: SEC Form 3 filed by new insider Bausch Shelley J

      3/A - KENNAMETAL INC (0000055242) (Issuer)

      5/1/25 12:07:02 PM ET
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      Industrial Machinery/Components
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    • Amendment: SEC Form 3 filed by new insider Bausch Shelley J

      3/A - KENNAMETAL INC (0000055242) (Issuer)

      5/1/25 11:53:55 AM ET
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      Industrial Machinery/Components
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    • SEC Form 3 filed by new insider Bausch Shelley J

      3 - KENNAMETAL INC (0000055242) (Issuer)

      5/1/25 11:37:18 AM ET
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      Industrial Machinery/Components
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    • Kennametal downgraded by Jefferies with a new price target

      Jefferies downgraded Kennametal from Buy to Hold and set a new price target of $32.00 from $40.00 previously

      12/6/24 7:53:03 AM ET
      $KMT
      Industrial Machinery/Components
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    • Kennametal downgraded by BofA Securities with a new price target

      BofA Securities downgraded Kennametal from Neutral to Underperform and set a new price target of $26.00

      10/18/24 7:31:55 AM ET
      $KMT
      Industrial Machinery/Components
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    • Morgan Stanley initiated coverage on Kennametal with a new price target

      Morgan Stanley initiated coverage of Kennametal with a rating of Equal-Weight and set a new price target of $24.00

      1/8/24 8:08:40 AM ET
      $KMT
      Industrial Machinery/Components
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    • Kennametal Announces Fiscal 2025 Third Quarter Results

      Earnings per diluted share (EPS) of $0.41 and adjusted EPS of $0.47, compared to $0.24 and $0.30, respectively, in the prior year quarterReturned approximately $40 million to shareholders; $25 million in share repurchases and $15 million in dividendsCompany provides updated annual OutlookPITTSBURGH, May 7, 2025 /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) (the "Company") today reported results for its fiscal 2025 third quarter ended March 31, 2025, with sales of $486 million compared to $516 million in the prior year quarter, and earnings per diluted share (EPS) of $0.41 compared to $0.24 in the prior year quarter. The current quarter pre-tax results include a benefit of approximately $10 mill

      5/7/25 6:30:00 AM ET
      $KMT
      Industrial Machinery/Components
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    • Kennametal to Host Earnings Conference Call & Webcast on Third Quarter Fiscal 2025 Results

      PITTSBURGH, April 16, 2025 /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) will host its third quarter fiscal year 2025 earnings call on Wednesday, May 7, 2025. The press release and presentation will be available on the Company's website before market on May 7.  Details of the conference call and webcast are as follows: When: Wednesday, May 7, 2025, at 9:30 am ET Hosts: Sanjay Chowbey, President and CEOPatrick Watson, Vice President and CFO Webcast: The conference call will be broadcast via real-time audio on Kennametal's investor relations website at https://investors.kennametal.com/ - click "Event" (located in the blue Quarterly Earnings block) About KennametalWith over 85 years as an industr

      4/16/25 6:30:00 AM ET
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      Industrial Machinery/Components
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    • Kennametal Announces Fiscal 2025 Second Quarter Results

      Strong YTD cash from operations of $101 million compared to $88 million in the prior year; free operating cash flow of $57 million compared to $36 million in the prior yearEarnings per diluted share (EPS) of $0.23 and adjusted EPS of $0.25Returned approximately $31 million to shareholders; $15 million in share repurchases and $16 million in dividendsLowers fiscal 2025 full year outlook due to weakening market conditions, primarily in EMEAPITTSBURGH, Feb. 5, 2025 /PRNewswire/ -- Kennametal Inc. (NYSE:KMT) (the "Company") today reported results for its fiscal 2025 second quarter ended December 31, 2024, with sales of $482 million compared to $495 million in the prior year quarter, and earnings

      2/5/25 6:30:00 AM ET
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