PITTSBURGH (AP) — PITTSBURGH (AP) — Kennametal Inc. (KMT) on Wednesday reported fiscal third-quarter net income of $31.5 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 41 cents. Earnings, adjusted for restructuring costs and pretax expenses, were 47 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The engineered products maker posted revenue of $486.4 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $490.3 million.
Kennametal expects full-year earnings in the range of $1.30 to $1.45 per share, with revenue in the range of $1.97 billion to $1.99 billion.
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