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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) has announced its participation in the Goldman Sachs Industrials and Materials Conference, scheduled for May 9, 2023, in New York City. Key executives, including Patrick Watson (CFO), Michael Pici (VP of Investor Relations), and John Witt (VP Finance), will represent the company at this event. With over 80 years in the industrial technology sector, Kennametal specializes in delivering productivity through materials science and tooling solutions. The company reported revenues of $2 billion for fiscal 2022, supporting various industries such as aerospace, energy, and transportation. This conference offers an opportunity for Kennametal to engage with investors and stakeholders as they continue to enhance their competitive edge globally.
Kennametal Inc. (NYSE: KMT) announced its third quarter fiscal year 2023 earnings call scheduled for May 2, 2023, at 8 a.m. ET. The results will be available on the company's investor relations website after the market closes on May 1, 2023. The call will be hosted by Christopher Rossi, President and CEO, and Patrick Watson, Vice President and CFO. Kennametal, a leader in industrial technology, generated $2 billion in revenues in fiscal 2022 and operates in over 60 countries with approximately 8,700 employees. For more information, visit www.kennametal.com.
Kennametal Inc. (NYSE: KMT) will participate in the J.P. Morgan 2023 Industrials Conference on March 16, 2023. Key attendees include Patrick Watson, Vice President and Chief Financial Officer, and Michael Pici, Vice President of Investor Relations. With over 80 years in the industrial sector, Kennametal focuses on materials science and tooling solutions, serving customers in various industries, including aerospace and energy. The company reported $2 billion in revenues for fiscal 2022 and operates in over 60 countries with approximately 8,700 employees. For more information, visit www.kennametal.com.
Kennametal Inc. (NYSE: KMT) announced its participation in the Loop Capital Conference set for March 14, 2023. Key representatives from Kennametal will include Patrick Watson, CFO; Sanjay Chowbey, VP and President of Metal Cutting; and Michael Pici, VP of Investor Relations. This conference highlights Kennametal's commitment to engaging with investors and showcasing its industrial technology leadership. With a workforce of approximately 8,700 employees across over 60 countries, Kennametal generated $2 billion in revenue for fiscal 2022, providing solutions in various sectors such as aerospace and energy.
Kennametal Inc. (NYSE: KMT) has launched the KCP25C grade with KENGold™ coating, designed to enhance performance in steel turning applications. This innovative metal-cutting insert features improved wear resistance and higher metal removal rates, setting a new industry standard. The KCP25C grade is ideal for general-purpose applications, delivering reliable and consistent results. Key benefits include enhanced toughness, reduced chipping, and the ability to visually identify wear, thus maximizing productivity and reducing waste. Moreover, Kennametal plans to expand its offering of KCP25C inserts in various shapes and styles.
Kennametal Inc. (NYSE: KMT) has appointed Michael Pici as the new Vice President of Investor Relations, effective immediately. Pici, who has over 30 years of experience in investor relations and financial analysis, replaces Kelly Boyer, who will transition into a new role within the company. Pici previously served as Vice President, Investor Relations at Perspecta and holds an MBA in financial management. He will report to Patrick Watson, the CFO. Kennametal continues to focus on delivering productivity through industrial technology, having generated $2 billion in revenues in fiscal 2022.
Kennametal Inc. (KMT) reported Q2 fiscal 2023 results with sales of $497 million, a 2% year-over-year increase. Organic growth was 11%, though negatively impacted by currency exchange and business days effects. The earnings per diluted share (EPS) declined to $0.27 from $0.37 in the previous year. Operating income fell to $35 million (7.1% margin) due to increased raw material costs, inflation, and currency effects. The company returned $27 million to shareholders through dividends and share buybacks. For Q3, sales are expected between $520-$540 million with adjusted EPS projected at $1.30-$1.70.
Kennametal Inc. (NYSE: KMT) is set to host its second quarter fiscal year 2023 earnings call on February 7, 2023, at 8 a.m. ET. The related press release and presentation will be available on the Company's website after market close on February 6, 2023. The call will be led by Christopher Rossi, President and CEO, and Patrick Watson, Vice President and CFO. Kennametal, a leader in industrial technology for over 80 years, reported $2 billion in revenues for fiscal 2022, serving customers across various industries globally.
Kennametal Inc. (NYSE: KMT) has elected Paul Sternlieb to its Board of Directors, effective January 1, 2023. Sternlieb, the current President and CEO of Enerpac Tool Group, brings over 25 years of leadership experience in industrial sectors. His background includes roles at JBT Corporation, ITW, Danaher, H.J. Heinz, and McKinsey & Company. The company, known for its productivity solutions across various industries, generated $2 billion in revenues in fiscal 2022. Sternlieb's insights are anticipated to support Kennametal's growth strategy.
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