Kennametal (NYSE: KMT) reported Q3 EPS of $0.46, $0.02 better than the analyst estimate of $0.44. Revenue for the quarter came in at $639 million versus the consensus estimate of $645.56 million.

Kennametal sees FY2015 EPS of $1.95-$2.05, versus prior guidance of $1.90-$2.10 and the consensus of $1.96.

Kennametal President and Chief Executive Officer Don Nolan said, "Progress on our accelerated cost reduction measures facilitated better than expected performance for the March quarter. However, it was necessary to record an additional impairment charge due to a continued decline in the end market outlook related to our Infrastructure Segment."

"While reducing costs in many areas, we continue to focus on great service and innovation, investing in capabilities to better serve our customers and support growth. We are acting quickly to simplify the portfolio, get our cost structure right, and improve working capital efficiency. These all remain priorities to maximize profitability and improve shareholder returns."

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