Kennametal (KMT) Misses Q3 EPS by 2c

Kennametal (NYSE: KMT) reported Q3 EPS of $0.77, $0.02 worse than the analyst estimate of $0.79. Revenue for the quarter came in at $597.2 million versus the consensus estimate of $624.66 million.

"We delivered organic sales growth in every business segment, on increasingly tougher comparables, and end markets remained generally positive except for automotive," said President and Chief Executive Officer, Chris Rossi. "Earnings improved, and our adjusted EBITDA margin for the quarter increased notably year-over-year which is in-line with the fiscal 2021 targets outlined at our most recent Investor Day."

Rossi continued, "We are seeing the increasing benefits from simplification/modernization in our financial results. Moving forward, we expect the associated restructuring efforts to further reduce structural costs while maintaining customer commitments."

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

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