Kennametal Inc is a global industrial technology company that specializes in manufacturing cutting tools, tooling systems, and materials used in metalworking, mining, and other industrial applications
The company focuses on providing advanced solutions that enhance productivity and efficiency for its customers across various sectors, including aerospace, automotive, energy, and general manufacturing. Kennametal is known for its innovation in materials science and engineering, delivering high-performance products that help businesses optimize their processes and reduce operational costs. Through a commitment to sustainability and technological advancement, Kennametal aims to drive growth and support the evolving needs of the industries it serves.
Shares of industrial materials and tools company Kennametal (NYSEKMT)
fell 6.4% in the morning session after the company reported weak fourth-quarter results. Its full-year EPS guidance missed significantly, and its revenue guidance for the next quarter also fell short of Wall Street's estimates. Management attributed the weaker outlook to deteriorating market conditions, particularly in EMEA. Overall, this was a softer quarter.
Industrial materials and tools company Kennametal (NYSEKMT) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 2.7% year on year to $482.1 million. Next quarter’s revenue guidance of $490 million underwhelmed, coming in 5.4% below analysts’ estimates. Its non-GAAP profit of $0.25 per share was in line with analysts’ consensus estimates.
Wall Street rose on Wednesday, with all major equity indices advancing as investors assessed the latest batch of corporate earnings and drew optimism from positive labor market data.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how professional tools and equipment stocks fared in Q3, starting with Fortive (NYSEFTV).
Over the past six months, Kennametal’s stock price fell to $23.77. Shareholders have lost 7% of their capital, which is disappointing considering the S&P 500 has climbed by 10.4%. This may have investors wondering how to approach the situation.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the professional tools and equipment industry, including Snap-on (NYSESNA) and its peers.
With an 86-year history in the metal cutting business, Pittsburgh, Pa.-based Kennametal Inc. (KMT) is just the kind of company you might expect to find in “Steel Town.”
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the professional tools and equipment industry, including Kennametal (NYSEKMT) and its peers.
Shares of industrial materials and tools company Kennametal (NYSEKMT)
jumped 19.4% in the morning session after the company reported strong third-quarter earnings. Kennametal provided a full-year EPS forecast, which blew past analysts' expectations. EPS also outperformed Wall Street's estimates during the quarter. On the other hand, its EPS forecast for next quarter missed and its revenue fell short of Wall Street's estimates. Overall, this quarter was mixed but the strong full year EPS guidance seems to be lifting shares.
Industrial materials and tools company Kennametal (NYSEKMT) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 2.1% year on year to $481.9 million. The company expects next quarter’s revenue to be around $490 million, slightly below analysts’ estimates. Its non-GAAP profit of $0.29 per share was 13.4% above analysts’ consensus estimates.
