Kennametal Inc reports results for the quarter ended in September - Earnings Summary

Kennametal

01/11/2023 13:31

* Kennametal Inc  KMT.N  reported quarterly adjusted
earnings of
41 cents​​ per share for the quarter ended in September, higher
than the same quarter last year, when the company reported EPS
of 34 cents.  The mean expectation of eight analysts for the
quarter was for earnings of 35 cents per share. Wall Street
expected results to range from 30 cents to 40 cents per share.
    * Revenue fell 0.5% to $492.48 million from a year ago;
analysts
expected $504.47 million. 
    * Kennametal Inc's reported EPS for the quarter was 37
cents​.
    * The company reported quarterly net income of $30.06
million.
    * Kennametal Inc shares had fallen by 7.1% this quarter and
lost 3.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.9%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and 3 "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "hold"

Wall Street's median 12-month price target for Kennametal Inc is
$26.00 
This summary was machine generated from LSEG data November 1 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.35           0.41           Beat
 Jun. 30 2023      0.59           0.45           Missed
 Mar. 31 2023      0.34           0.39           Beat
 Dec. 31 2022      0.22           0.27           Beat