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Mar 31, 2024
Kennametal Q3 2024 Earnings Report
Kennametal's financial performance remained steady amidst market softness, with sales decreasing slightly but strong cash generation.
Key Takeaways
Kennametal reported Q3 2024 results with sales of $516 million and EPS of $0.24. Adjusted EPS was $0.30. The company is tightening its full-year outlook to align with current market conditions and expects approximately $35 million in annualized savings in fiscal 2024.
Sales decreased by 4% year-over-year to $516 million.
Earnings per diluted share (EPS) were $0.24, and adjusted EPS was $0.30.
Operating income was $35 million, or 6.8% of sales.
The company returned approximately $31 million to shareholders through share repurchases and dividends.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company’s expectations for the full fiscal year 2024 are as follows: Sales now expected to be $2.030 - $2.050 billion, Adjusted EPS is now expected to be $1.40 - $1.55 and Free operating cash flow now expected to be greater than 125 percent of adjusted net income.
Positive Outlook
- Pricing actions expected to cover raw material costs, wages and general inflation
- Primary working capital as a percent of sales maintained at approximately 32 percent throughout the year
- Share repurchase program to continue
Historical Earnings Impact
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Avg. Return Before/After Earnings
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