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Jun 30, 2023
Kennametal Q4 2023 Earnings Report
Kennametal reported Q4 2023 results with sales increasing 4 percent year-over-year and EPS of $0.45.
Key Takeaways
Kennametal's Q4 sales increased by 4% year-over-year to $550 million, driven by 7% organic growth. The company reported EPS of $0.45 and adjusted EPS of $0.51. They returned $114 million to shareholders in FY23 and generated $169 million in free operating cash flow.
Q4 sales increased 4 percent year-over-year to $550 million; 7 percent on an organic basis
Earnings per diluted share (EPS) of $0.45 and adjusted EPS of $0.51
Returned $114 million to shareholders in FY23; $49 million in share repurchases and $65 million in dividends
Strong cash from operations of $258 million and FOCF of $169 million
Revenue by Geographic Location
Forward Guidance
The Company’s expectations for the first quarter of fiscal 2024 and the full year are as follows:
Positive Outlook
- Sales expected to be $485 - $510 million
- Adjusted ETR is expected to be approximately 5 percent
- Adjusted EPS is expected to be $0.30 - $0.40
- Sales expected to be $2.1 - $2.2 billion
- Adjusted EPS is expected to be $1.75 - $2.15
Challenges Ahead
- foreign exchange anticipated to be flat compared to the first quarter of fiscal 2023
- Interest expense is expected to be approximately $28 million
- Adjusted ETR is expected to be approximately 24 percent
- Capital spending expected to be approximately $100 - $110 million
- Primary working capital as a percent of sales maintained at 30 - 32 percent throughout the year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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