Kennametal: Fiscal 1Q Earnings Snapshot
PITTSBURGH (AP) _ Kennametal Inc. (KMT) on Monday reported fiscal first-quarter earnings of $6.5 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 8 cents. Earnings, adjusted for restructuring costs, were 17 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 17 cents per share.
The engineered products maker posted revenue of $518.1 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $518 million.
Kennametal expects full-year earnings in the range of $1.70 to $2.10 per share.
Kennametal shares have risen 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $34.34, a decline of 11% in the last 12 months.