PITTSBURGH (AP) — PITTSBURGH (AP) — Kennametal Inc. (KMT) on Wednesday reported fiscal first-quarter net income of $22.1 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 28 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The engineered products maker posted revenue of $481.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $480.7 million.
For the current quarter ending in December, Kennametal expects its per-share earnings to range from 20 cents to 30 cents.
The company said it expects revenue in the range of $480 million to $500 million for the fiscal second quarter.
Kennametal expects full-year earnings in the range of $1.30 to $1.70 per share, with revenue ranging from $2 billion to $2.1 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMT at https://www.zacks.com/ap/KMT
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
