Kennametal (KMT) Tops Q3 EPS by 5c, Raises FY EPS Guidance

Kennametal (NYSE: KMT) reported Q3 EPS of $0.48, $0.05 better than the analyst estimate of $0.43. Revenue for the quarter came in at $529 million versus the consensus estimate of $512.49 million.

GUIDANCE:

Kennametal sees FY2017 EPS of $1.50-$1.60, versus the consensus of $1.40.

Outlook

The Company now expects consolidated adjusted EPS for the full fiscal year to be in the range of $1.50 and $1.60 per share, an increase from previous outlook of $1.20 to $1.50 per share. The improvement is driven primarily by expectations of sales being at or near the higher end of the most recent announced guidance for fiscal 2017. The Company now expects free operating cash flow to be in the range of $60 to $80 million, a decrease from the previous outlook of $90 to $110 million. This decrease is due primarily to our expectation that more working capital will be required to meet higher demand trends in most of our end markets.

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

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