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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 Inc. (NYSE: KMT), a leading industrial technology company, has announced its participation in the Jefferies Industrial Conference in New York City on September 4, 2024. The company will be represented by key executives including Sanjay Chowbey (President and CEO), Patrick Watson (VP and CFO), and Michael Pici (VP of Investor Relations).
Kennametal, with over 85 years of experience, specializes in materials science, tooling, and wear-resistant solutions. The company serves various industries such as aerospace, defense, earthworks, energy, and transportation. With approximately 8,400 employees worldwide, Kennametal operates in nearly 100 countries and reported revenues of $2 billion in fiscal 2024.
Kennametal Inc. (NYSE: KMT) is offering attendees at the International Manufacturing Technology Show (IMTS) 2024 in Chicago the chance to win a CNC machine. The main prize, an SVM 4100 Vertical Machining Center, will come fully equipped with Kennametal tooling solutions. The company's 'Metal Mania' booth will feature:
- Daily giveaways of custom branded guitars and toolboxes
- Demonstrations by renowned machinists
- Displays of Kennametal's newest solutions for various industries
The winner of the CNC machine will be announced on September 13, 2024. Kennametal's booth aims to create a heavy metal concert experience while showcasing high-performance metal cutting solutions from brands like Kennametal®, WIDIA™, and Hanita™.
Kennametal Inc. (NYSE: KMT) reported Q4 FY2024 earnings per share (EPS) of $0.47, up from $0.45 in the prior year quarter. For the full fiscal year 2024, the company reported EPS of $1.37, compared to $1.46 in FY2023. Adjusted EPS for FY2024 was $1.50. Despite market softness and challenges, Kennametal achieved:
- Strong cash flow from operations of $277 million, the highest as a percent of sales in over 25 years
- Returned $129 million to shareholders through share repurchases ($65.4M) and dividends ($63.4M)
- Completed initial $200 million share repurchase program
- Q4 sales of $543 million, down 1% year-over-year
- FY2024 sales of $2,047 million, down 2% from prior year
The company provided outlook for Q1 FY2025 with expected sales of $480-$500 million and adjusted EPS of $0.20-$0.30. For full FY2025, Kennametal expects sales of $2.0-$2.1 billion and adjusted EPS of $1.30-$1.70.
Kennametal Inc. (NYSE: KMT) has announced the appointment of David Bersaglini as Vice President of Kennametal Inc. and President of the Metal Cutting segment, effective August 26, 2024. Bersaglini, with nearly 25 years of experience, joins from Copeland where he was Vice President and General Manager of Global Refrigeration.
Sanjay Chowbey, President and CEO of Kennametal, praised Bersaglini's strong track record in leading global industrial businesses and his ability to develop and implement strategic initiatives. Chowbey emphasized that Bersaglini's commercial expertise, growth mindset, and results orientation make him ideal for leading the Metal Cutting business.
Bersaglini will be part of the company's Executive Leadership Team, reporting directly to Chowbey, whom he succeeds as President of Metal Cutting. His role will be important in creating shareholder value through growth, margin expansion, and a balanced capital allocation strategy.
Kennametal Inc. (NYSE: KMT), a leading industrial technology company, has announced its upcoming fourth quarter and fiscal 2024 earnings call scheduled for Wednesday, August 7, 2024, at 9:30 am ET. The company will release its press release and presentation before market opening on the same day. The conference call will be hosted by Sanjay Chowbey, President and CEO, and Patrick Watson, Vice President and CFO.
Investors can access the real-time audio webcast on Kennametal's investor relations website. With over 80 years of experience, Kennametal provides materials science, tooling, and wear-resistant solutions to customers in aerospace, defense, earthworks, energy, general engineering, and transportation sectors. The company operates in nearly 100 countries, employs approximately 8,700 people, and generated $2.1 billion in revenues for fiscal 2023.
Kennametal Inc. (NYSE: KMT) announced its participation as an exhibitor at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, September 9-14, 2024. The company's Metal Mania booth, inspired by their nationwide tooling truck and trailer, will be located in the West Building, Level 3, booth number 432324.
The booth aims to create a concert-like experience while showcasing high-performance metal cutting solutions. Attendees can expect to see proven tooling solutions from Kennametal®, WIDIA™, and Hanita™ brands, covering industries such as eMobility, aerospace and defense, and medical. The exhibit will feature live demonstrations, opportunities to connect with industry experts, and exclusive looks at Kennametal's latest innovations.
Kennametal has resumed operations at its Rogers, Arkansas facility after a tornado on May 26 caused significant damage and a temporary shutdown. The facility, which supports Kennametal's Infrastructure segment and produces engineered carbide wear components, was closed during the Memorial Day weekend, ensuring no injuries occurred. The company continues to assess the financial impact and is coordinating with its insurance provider. The swift resumption of operations was attributed to the teamwork and efforts of the local team and support across the organization.
With a workforce of 8,700 employees and operations in nearly 100 countries, Kennametal reported $2.1 billion in revenues for fiscal 2023. The Rogers facility is important for the company's Energy, General Engineering, Earthworks, and Metal Cutting segments.
Kennametal (NYSE: KMT) announced that its Rogers, AR facility was damaged by a tornado on May 28, 2024. The damage assessment is ongoing, but no employees were onsite during the storm. Incoming President & CEO Sanjay Chowbey expressed sympathy for affected employees and the community, and committed to providing necessary support and resources to restore operations quickly. The facility is important for the company's Infrastructure segment, producing engineered carbide wear components and rods for the Metal Cutting segment. Kennametal is working to minimize shipment delays and has contributed to the American Red Cross of Arkansas to support immediate community needs.
Kennametal Inc. (NYSE: KMT) will attend the KeyBanc 2024 Industrials and Basic Materials Conference in Boston on May 29, 2024. The company, with over 80 years of experience, delivers productivity solutions to customers worldwide. Kennametal generated $2.1 billion in revenues in fiscal 2023.
Kennametal Inc. reported its fiscal 2024 third-quarter results, with sales of $516 million, a decrease from the prior year. The company's EPS was $0.24, with adjusted EPS at $0.30. Despite market challenges, cash from operations was strong at $163 million. Key developments include restructuring savings of $6 million and operating income of $35 million. The Company's full-year outlook has been adjusted to align with market conditions, focusing on driving share gain and productivity.
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