Welcome to our dedicated page for Kennametal news (Ticker: KMT), a resource for investors and traders seeking the latest updates and insights on Kennametal stock.
Kennametal Inc. (NYSE: KMT) is a global industrial technology leader with over 80 years of expertise in materials science, tooling, and wear-resistant solutions. The company is strategically divided into two core segments: Metal Cutting and Infrastructure. Serving diverse markets such as aerospace, defense, energy, general engineering, and transportation, Kennametal offers an extensive range of standard and custom metal cutting solutions, achieving the highest revenue from its Metal Cutting segment.
Kennametal's advanced materials sciences and application knowledge enable it to deliver productivity and performance in demanding environments. The company’s innovative solutions include high-performance tooling and precision machining products, which are critical for sectors like aerospace, energy, and automotive industries.
Kennametal has recently made significant strides in innovation and development. For instance, the company was awarded the prestigious R&D 100 Award for its KENionic™ technology, an additive manufactured machining tool for large engine and transmission housings in transportation, including electric vehicles. This tool is noted for its lightweight design and efficiency, reducing machining time by roughly 50%.
The company also recently became a NASCAR Competition Partner, supplying precision metal cutting solutions for the Next Gen cars. This partnership highlights Kennametal's commitment to innovation and expanding its reach within the automotive and motorsport industries.
Financially, Kennametal reported $2.1 billion in revenues for fiscal 2023. The company continues to drive productivity and cost-saving initiatives, including a $100 million Operational Excellence and Capacity Optimization program aimed at restructuring and operational improvements to enhance shareholder value.
Additionally, Kennametal has joined the ModuleWorks Strategic Partner Program to drive intelligent and integrated digital manufacturing solutions. This partnership leverages Kennametal’s knowledge in materials science and tooling with ModuleWorks' software capabilities, further supporting small and medium-sized general engineering shops.
Despite market challenges, including a recent tornado affecting its Rogers, AR facility, Kennametal has demonstrated resilience by resuming operations swiftly and ensuring continued support for its customers. The company’s global presence, with approximately 8,700 employees in nearly 100 countries, underscores its capability to maintain competitive advantage and deliver high-quality solutions across various industries.
Kennametal (NYSE: KMT) will participate in the KeyBanc Industrials & Basic Materials Conference on June 2, 2021. Key executives attending the virtual event include Damon Audia, Vice President and CFO, and Kelly Boyer, Vice President of Investor Relations. Kennametal, a leader in industrial technology, reported nearly $1.9 billion in revenues in fiscal 2020 and employs approximately 9,000 people across more than 60 countries, delivering solutions in materials science and tooling.
Kennametal Inc. (NYSE: KMT) has appointed Sanjay Chowbey as President of Metal Cutting, effective June 14, 2021. Chowbey brings over 20 years of experience from companies like Flowserve and Danaher, enhancing the firm's strategic initiatives in Metal Cutting. Christopher Rossi, President and CEO, highlighted Chowbey's expertise in sales, marketing, and operations as vital for transforming the Metal Cutting segment and improving financial performance. Kennametal generated nearly $1.9 billion in revenues in fiscal 2020, serving clients in over 60 countries.
Kennametal (NYSE: KMT) will participate in the Goldman Sachs Industrials & Materials Conference on May 12, 2021. Key representatives include Damon Audia, VP and CFO, and Kelly Boyer, VP of Investor Relations. This event underscores Kennametal's commitment to engaging with investors and stakeholders. The company, a leader in industrial technology for over 80 years, reported nearly $1.9 billion in fiscal 2020 revenues and supports industries like aerospace and energy.
Kennametal Inc. (NYSE: KMT) reported fiscal 2021 Q3 results, achieving an EPS of $0.26, compared to $0.03 last year, though adjusted EPS fell to $0.32 from $0.46. Sales rose 10% sequentially to $485 million, with improvements noted across various sectors, despite ongoing supply chain challenges. Adjusted operating margins increased by 330 basis points. The company anticipates mid-single-digit sales growth for Q4 and ongoing cost-saving progress, expecting to reach $180 million in annualized savings from modernization efforts.
Kennametal (NYSE: KMT) will host its third quarter fiscal year 2021 earnings call on May 4, 2021, at 8 a.m. ET. The release and presentation will be available after market close on May 3, 2021. The conference will be led by President and CEO Chris Rossi and Vice President and CFO Damon Audia. The call can be accessed via a real-time audio webcast on the Kennametal website. The company generated nearly $1.9 billion in revenues in fiscal 2020 and has over 9,000 employees supporting customers in more than 60 countries.
Kennametal (NYSE: KMT) will participate in the JP Morgan Industrials Conference on March 16, 2021. The event will feature key figures such as Damon Audia, CFO, and Kelly Boyer, VP of Investor Relations. A slide deck from the presentation will be accessible on www.kennametal.com after the event. Kennametal is an industrial technology leader with over 80 years of experience, generating nearly $1.9 billion in revenues in fiscal 2020, serving customers worldwide.
Kennametal announced its participation in the virtual Barclays Industrial Select Conference on February 17, 2021. Key representatives from the company, including Damon Audia, Vice President and Chief Financial Officer, and Kelly Boyer, Vice President of Investor Relations, will be in attendance. Kennametal, a leader in industrial technology for over 80 years, generated nearly $1.9 billion in revenues in fiscal 2020 and serves customers in over 60 countries. This conference provides an opportunity for investors to engage with Kennametal's leadership.
Kennametal announced the pricing of a public offering of $300 million in 2.80% Senior Notes due March 1, 2031. The company expects to receive net proceeds by February 23, 2021, which will be used to repay its 3.875% notes due in February 2022 and for general corporate purposes. This offering is part of Kennametal's strategy to manage its debt effectively. Investors are encouraged to review the details in the SEC registration statement.
Kennametal Inc. (NYSE: KMT) reported Q2 fiscal 2021 results, showcasing a turnaround with EPS of $0.23 compared to a loss of $0.07 in the same period last year. Despite a 13% year-over-year sales decline to $441 million, sequential sales rose 10%, driven by stronger demand in Transportation and General Engineering. The company achieved $145 million in annualized savings from its modernization initiatives. Operating income improved to $19 million, marking a significant recovery from last year’s loss of $48 million. A quarterly dividend of $0.20 was also declared.
FAQ
What is the current stock price of Kennametal (KMT)?
What is the market cap of Kennametal (KMT)?
What are Kennametal's main business segments?
What recent innovations has Kennametal achieved?
How is Kennametal addressing market challenges and operational efficiency?
What are Kennametal's primary markets?
How did Kennametal perform financially in fiscal 2023?
What is Kennametal's role in the ModuleWorks Strategic Partner Program?
How did Kennametal handle the recent tornado affecting its Rogers, AR facility?
What is Kennametal's approach to sustainability?
How does Kennametal support the automotive industry?
How extensive is Kennametal's global presence?
