KMT Stock Recent News

Kennametal's shares look to be undergoing a double-top reversal formation, indicating lower prices in the near term. The stock currently yields over 3% and has a cheap valuation compared to the sector median.

Sales are increasing, boosted by share price raises, but demand is slowing. Profit margins have improved, but future profitability is uncertain due to easing inflation and planned decreased production capacity but decreased volumes. Long-term debt keeps decreasing, and high inventories should allow for further debt reductions.

PITTSBURGH , Oct. 11, 2023 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) will host its first quarter fiscal year 2024 earnings call on Wednesday, November 1. The press release and presentation will be available on the Company's website before market on November 1.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Kennametal (KMT) benefits from strength in the general engineering and energy end markets within the Metal Cutting segment. Kennametal's measures to reward its shareholders are encouraging.

Kennametal (KMT) plans to shut down three to five plants and reduce inventory levels as part of its $100 million cost-reduction program.

Kennametal's (KMT) fiscal fourth-quarter 2023 operating margin decrease 160 bps year over year due to high raw material costs, wages and lower sales volumes in the Infrastructure segment.

While the top- and bottom-line numbers for Kennametal (KMT) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Kennametal (KMT) came out with quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.53 per share a year ago.

Kennametal is expected to announce its Q4 2023 financial results soon; despite mixed financial performance, the company's overall performance has exceeded the broader market. The company's revenue increased by 3.1% in the first nine months of the fiscal year, driven by strong aerospace revenue and strength in the oil and gas market; however, profitability dipped due to higher costs and inflation. Shares are attractively priced heading into earnings, even with the firm facing some issues.