Kennametal Inc. Q2 Profit Decreases, Misses Estimates

Kennametal

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(RTTNews) - Kennametal Inc. (KMT) released earnings for second quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $17.93 million, or $0.23 per share. This compares with $23.11 million, or $0.29 per share, last year.

Excluding items, Kennametal Inc. reported adjusted earnings of $19.64 million or $0.25 per share for the period.

Analysts on average had expected the company to earn $0.26 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.7% to $482.05 million from $495.32 million last year.

Kennametal Inc. earnings at a glance (GAAP) :

-Earnings: $17.93 Mln. vs. $23.11 Mln. last year. -EPS: $0.23 vs. $0.29 last year. -Revenue: $482.05 Mln vs. $495.32 Mln last year.

-Guidance: Next quarter EPS guidance: $0.20 - $0.30 Next quarter revenue guidance: $480 - $500 Mln Full year EPS guidance: $1.05 - $1.30 Full year revenue guidance: $1.950 - $2.000 Bln