Kennametal: Fiscal 4Q Earnings Snapshot
PITTSBURGH (AP) _ Kennametal Inc. (KMT) on Monday reported fiscal fourth-quarter profit of $68.5 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 83 cents. Earnings, adjusted for restructuring costs, were 87 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The engineered products maker posted revenue of $646.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $633.5 million.
For the year, the company reported profit of $200.2 million, or $2.42 per share. Revenue was reported as $2.37 billion.
Kennametal expects full-year earnings in the range of $2.90 to $3.20 per share.
Kennametal shares have fallen 20 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $38.49, a climb of 5 percent in the last 12 months.