Kennametal (KMT) Tops Q4 EPS by 1c

Kennametal (NYSE: KMT) reported Q4 EPS of $0.44, $0.01 better than the analyst estimate of $0.43. Revenue for the quarter came in at $521.22 million versus the consensus estimate of $519.54 million.

"We continued to make meaningful progress to better position Kennametal to outperform over the long term, even though the operating environment remained challenging in the fourth quarter," said Ron De Feo, Kennametal President and CEO. "We are diligently focused on driving growth on the commercial side of our business, as well as aggressively executing the already-announced cost reduction programs. This is in addition to pursuing substantially deeper cost reductions across our North American and EMEA operations."

De Feo continued, "As we look to fiscal year 2017, we expect to see some improvements in certain end markets. We have a solid plan, and even without a modest upturn in our end markets, we believe our improving cost position in combination with a more robust and proactive commercial strategy will produce improved margins. I am optimistic about the future for Kennametal as we concentrate our efforts on highly relevant products, applications, and solutions positioned properly in the marketplace for our global customers."

GUIDANCE:

Kennametal sees FY2017 EPS of $1.10-$1.40, versus the consensus of $1.08.

For earnings history and earnings-related data on Kennametal (KMT) click here.

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