Kennametal: Fiscal 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

PITTSBURGH (AP) _ Kennametal Inc. (KMT) on Monday reported a fiscal second-quarter loss of $5.9 million, after reporting a profit in the same period a year earlier.

The Pittsburgh-based company said it had a loss of 7 cents per share. Earnings, adjusted for one-time gains and costs, were 17 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The engineered products maker posted revenue of $505.1 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $524.4 million.

Kennametal expects full-year earnings in the range of $1.20 to $1.50 per share.

Kennametal shares have declined 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $31.55, a drop of 18% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMT at https://www.zacks.com/ap/KMT