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Jun 30, 2020
Kennametal Q4 2020 Earnings Report
Kennametal reported a loss per share of $0.11 and adjusted EPS of $0.15, with sales of $379 million, reflecting the impact of COVID-19 and strategic cost management.
Key Takeaways
Kennametal's Q4 results were impacted by COVID-19, with a reported loss per share of $0.11. The company focused on aggressively managing costs and aligning production levels to demand. Sales for the quarter were $379 million, a 37% decrease year-over-year.
COVID-19 significantly affected all regions and end markets during the quarter.
The company aggressively managed costs and aligned production levels to mitigate the effect on operating leverage.
Kennametal combined Industrial and WIDIA into one Metal Cutting organization as of July 1 to drive share gain.
FY21 Restructuring Actions are expected to generate $65 to $75 million of annualized savings upon completion.
Revenue by Geographic Location
Forward Guidance
Due to the uncertainty in the global economy caused by COVID-19, visibility into the Company’s primary end markets remains limited. As a result, the Company will not be issuing annual FY21 outlook outside of capital spending. Capital spending is expected to be $110 million to $130 million, with the majority of the spending occurring in the first half of the fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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