Kennametal falls on lower annual forecast

Kennametal

05/02/2025 18:46

** Shares of cutting tools and engineered components maker
Kennametal  KMT.N  down 5.3% at $22.22, their lowest since
October 12
    ** Expects 2025 sales to be between $1.95 billion and $2.0
billion, below analysts' average estimate of $2.03 billion —
LSEG
    ** Also expects 2025 adj. profit of $1.05 to $1.30 per share
vs analysts' average estimate of $1.44 per share
    ** Sees Q3 sales to be between $480 million and $500 million
vs analysts' average estimate of $515.5 million
    ** "In light of these challenging conditions, we have
reduced our full-year outlook and have taken the additional
restructuring actions we announced in mid-January" — CEO Sanjay
Chowbey
    ** Reports Q2 sales of $482 million and adj. EPS of $0.25 
    ** KMT's shares fell ~6.86% in 2024
    

 (Reporting by Megha Kumari in Bengaluru)
 ((Megha.Kumari@thomsonreuters.com))