Kennametal Stock Price, News & Analysis

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.

Kennametal Inc. (NYSE: KMT) will participate in a Non-Deal Roadshow hosted by KeyBanc on December 8-9, 2022. Key executives attending include Patrick Watson, Chief Financial Officer; Franklin Cardenas, President of the Infrastructure Business Segment; and Kelly Boyer, Vice President of Investor Relations. Kennametal has over 80 years of experience in industrial technology, focusing on materials science and tooling solutions. In fiscal 2022, the company generated $2 billion in revenues.

Kennametal has expanded its Innovations series of metal cutting tools with new products aimed at enhancing machining efficiency across various sectors, including electric vehicles and aerospace. Key updates include the new KenTIP FS modular drill platform, Kenna Universal Drill upgrades, and the introduction of the KenReam S for high-performance reaming. The lineup also features new dynamic milling tools and advanced boring bars designed for superior accuracy. These innovations are intended to address challenging machining tasks and improve productivity for customers.