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Kennametal Inc (NYSE: KMT) delivers innovative metal cutting tools and wear-resistant solutions for industrial sectors worldwide. This news hub provides investors and industry professionals with timely updates on corporate developments, strategic initiatives, and operational milestones.
Access comprehensive coverage of Kennametal's latest press releases, product innovations, and market positioning. Our curated collection ensures you stay informed about earnings announcements, leadership updates, and technological advancements in materials science and manufacturing efficiency.
Key updates include quarterly financial results, partnership agreements, sustainability efforts, and global expansion activities. Bookmark this page for direct access to verified information from one of industrial technology's most established providers.
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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