Kennametal Inc.
Description
Kennametal Inc. engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. It operates through two segments, Metal Cutting and Infrastructure. The Metal Cutting segment offers standard and custom products, including milling, hole making, turning, threading and toolmaking systems, and services, as well as specialized wear components and metallurgical powders for manufacturers engaged in various industries, such as the manufacturers of transportation vehicles and components, machine tools, and light and heavy machinery; airframes, aero engines, trucks and automobiles, ships, and various types of industrial equipment; and energy-related components for the oil and gas industry, as well as power generation. The segment provides its products under the Kennametal, WIDIA, WIDIA Hanita, and WIDIA GTD brands through its direct sales force, a network of independent and national distributors, and integrated suppliers, as well as digital channels. The Infrastructure segment produces compacts, nozzles, frac seats, and custom components used in oil and gas, and petrochemical industries; rod blanks and abrasive water jet nozzles for general industries; earth cutting tools and systems used in underground mining, trenching and foundation drilling, and road milling; tungsten carbide powders for the oil and gas, aerospace, and process industries; critical wear components, tungsten penetrators, and armor solutions for aerospace and defense; and ceramics used by the packaging industry for metallization of films and papers. This segment offers its products primarily under the Kennametal brand through direct sales force and distributors. The company was founded in 1938 and is based in Pittsburgh, Pennsylvania.
About
Earnings
Date | Estimate EPS | Actual EPS | Difference | % Surprise |
---|---|---|---|---|
Nov 4, 2025 | — | — | — | — |
Aug 5, 2025 | — | — | — | — |
May 6, 2025 | — | — | — | — |
Feb 5, 2025 | 0.27 | — | — | — |
Nov 6, 2024 | 0.26 | 0.29 | 0.03 | 11.54% |
Earnings estimate
Next Quarter
(Mar 2025)
|
Current Year
(Jun 2025)
|
Next Year
(Jun 2026)
|
||
---|---|---|---|---|
Number of analysts | — | 9 | 9 | 9 |
Average estimate | — | 0.38 | 1.44 | 1.63 |
Low estimate | — | 0.32 | 1.35 | 1.48 |
High estimate | — | 0.48 | 1.51 | 1.72 |
Last year EPS | — | 0.30 | 1.50 | 1.44 |
Growth estimates
Analyst Ratings
Date | Firm | Action | Rating | Price Target |
---|---|---|---|---|
Jan 8, 2025 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▼ Lowers $31 → $30 |
Dec 17, 2024 |
Morgan Stanley
Angel Castillo
|
Maintains | Equal-Weight | ▲ Raises $24.5 → $28 |
Dec 6, 2024 |
Jefferies
Stephen Volkmann
|
Downgrade | Hold | ▼ Lowers $40 → $32 |
Nov 19, 2024 |
Loop Capital
Chris Dankert
|
Maintains | Hold | ▲ Raises $24 → $26 |
Oct 18, 2024 |
B of A Securities
Ross Gilardi
|
Downgrade | Underperform | Maintains $26 |
Aug 22, 2024 |
Loop Capital
Chris Dankert
|
Maintains | Hold | ▲ Raises $22 → $24 |
Aug 9, 2024 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▲ Raises $24 → $25 |
Jul 11, 2024 |
Barclays
|
Maintains | Equal-Weight | — |
Jul 10, 2024 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▼ Lowers $25 → $24 |
Jun 21, 2024 |
Loop Capital
Chris Dankert
|
Maintains | Hold | ▼ Lowers $24 → $22 |
May 23, 2024 |
Loop Capital
Chris Dankert
|
Maintains | Hold | ▲ Raises $23 → $24 |
May 9, 2024 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▲ Raises $24 → $25 |
Apr 2, 2024 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▼ Lowers $25 → $24 |
Feb 8, 2024 |
JP Morgan
Tami Zakaria
|
Maintains | Underweight | ▼ Lowers $26 → $24 |
Feb 8, 2024 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▼ Lowers $26 → $25 |
Jan 8, 2024 |
Morgan Stanley
Angel Castillo
|
Initiates | Equal-Weight | Announces $24 |
Nov 2, 2023 |
Goldman Sachs
Joe Ritchie
|
Maintains | Sell | ▼ Lowers $26 → $23 |
Nov 2, 2023 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▼ Lowers $28 → $26 |
Oct 16, 2023 |
JP Morgan
Tami Zakaria
|
Maintains | Underweight | ▼ Lowers $30 → $26 |
Jul 10, 2023 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▲ Raises $27 → $28 |
May 15, 2023 |
BMO Capital
John Joyner
|
Maintains | Market Perform | ▲ Raises $25 → $27.5 |
May 3, 2023 |
Morgan Stanley
Dillon Cumming
|
Maintains | Equal-Weight | ▲ Raises $26 → $28 |
Feb 9, 2023 |
Loop Capital
Chris Dankert
|
Maintains | Hold | ▲ Raises $22 → $28 |
Feb 8, 2023 |
JP Morgan
Tami Zakaria
|
Maintains | Underweight | ▲ Raises $24 → $26 |
Feb 8, 2023 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▲ Raises $25 → $27 |
Jan 5, 2023 |
Barclays
Julian Mitchell
|
Maintains | Equal-Weight | ▲ Raises $24 → $25 |
Dec 15, 2022 |
Goldman Sachs
Joe Ritchie
|
Maintains | Sell | ▲ Raises $23 → $26 |
Dec 14, 2022 |
Morgan Stanley
Dillon Cumming
|
Maintains | Equal-Weight | ▲ Raises $23 → $26 |
Nov 2, 2022 |
Morgan Stanley
Dillon Cumming
|
Maintains | Equal-Weight | ▼ Lowers $24 → $23 |
Oct 13, 2022 |
Morgan Stanley
Dillon Cumming
|
Maintains | Equal-Weight | ▼ Lowers $27 → $24 |
Income statement
2024 | 2023 | 2022 | 2021 | 2020 | |
---|---|---|---|---|---|
Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | 2020-06-30 |
Total reported revenue | 2.05B | 2.08B | 2.01B | 1.84B | 1.89B |
Cost of revenue | 1.42B | 1.43B | 1.36B | 1.29B | 1.36B |
Gross profit | 627.09M | 646.44M | 647.98M | 552.48M | 529.47M |
Operating expense | |||||
Research & development | — | — | — | — | — |
Selling general and admin | — | — | — | — | — |
Other operating expenses | 433.16M | 437.29M | 419.09M | 407.25M | 388.44M |
Operating income | 182.38M | 196.52M | 215.90M | 131.23M | 127.22M |
Non operating interest income | |||||
Income | — | — | — | — | — |
Expense | 26.47M | 28.50M | 25.91M | 46.38M | 35.15M |
Other income expense | -11.45M | -8.41M | 16.75M | -20.19M | -90.11M |
Pretax income | 144.45M | 159.62M | 206.73M | 64.66M | 1.96M |
Tax provision | 30.81M | 36.26M | 56.53M | 6.24M | 7.01M |
Net income | 113.64M | 123.37M | 150.20M | 58.42M | -5.05M |
Basic EPS | 1.38 | 1.47 | 1.74 | 0.65 | -0.07 |
Diluted EPS | 1.37 | 1.46 | 1.72 | 0.65 | -0.07 |
Basic average shares | 79.39M | 80.80M | 83.25M | 83.60M | 83.05M |
Diluted average shares | 79.39M | 80.80M | 83.25M | 83.60M | 83.05M |
EBITDA | 317.76M | 326.25M | 362.08M | 266.58M | 261.95M |
Net income from continuing op. | 113.64M | 123.37M | 150.20M | 58.42M | -5.05M |
Minority interests | -4.32M | -4.91M | -5.58M | -3.98M | -614,000 |
Preferred stock dividends | — | — | — | — | — |
Balance sheet
2024 | 2023 | 2022 | 2021 | 2020 | |
---|---|---|---|---|---|
Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | 2020-06-30 |
Total assets | 2.50B | 2.55B | 2.57B | 2.67B | 3.04B |
Current assets | |||||
Cash | — | — | — | — | — |
Cash equivalents | — | — | — | — | — |
Cash and cash equivalents | 127.97M | 106.02M | 85.59M | 154.05M | 606.68M |
Other short term investments | — | — | — | — | — |
Accounts receivable | 302.81M | 307.31M | 295.35M | 302.95M | 237.98M |
Other receivables | — | — | — | — | — |
Inventory | 514.63M | 557.63M | 570.84M | 476.35M | 522.45M |
Prepaid assets | — | — | — | — | — |
Restricted cash | — | — | — | — | — |
Assets held for sale | — | — | — | — | — |
Hedging assets | — | — | — | — | — |
Other current assets | 57.18M | 55.83M | 72.94M | 71.47M | 73.70M |
Non current assets | |||||
Properties | 463.52M | 459.33M | 457.25M | 464.21M | 408.29M |
Land and improvements | — | — | — | — | — |
Machinery furniture equipment | 1.99B | 1.95B | 1.90B | 1.96B | 1.91B |
Construction in progress | — | — | — | — | — |
Leases | — | — | — | — | — |
Accumulated depreciation | -1.47B | -1.40B | -1.31B | -1.32B | -1.24B |
Goodwill | 624.56M | 632.27M | 634.19M | 675.27M | 673.73M |
Investment properties | — | — | — | — | — |
Financial assets | — | — | — | — | — |
Intangible assets | 81.42M | 93.16M | 105.73M | 120.04M | 132.57M |
Investments and advances | — | — | — | — | — |
Other non current assets | 91.96M | 75.06M | 63.18M | 68.59M | 64.21M |
Total liabilities | 1.22B | 1.23B | 1.28B | 1.30B | 1.77B |
Current liabilities | |||||
Accounts payable | 191.54M | 203.34M | 227.89M | 177.66M | 164.64M |
Accrued expenses | 79.02M | 80.83M | 83.15M | 95.85M | 97.87M |
Short term debt | 14.14M | 12.07M | 33.57M | 22.59M | 513.61M |
Deferred revenue | — | — | — | — | — |
Tax payable | 23.90M | 36.75M | 39.47M | 24.93M | 32.99M |
Pensions | 34.54M | 36.98M | 35.27M | 51.78M | 20.19M |
Other current liabilities | 72.82M | 64.01M | 66.30M | 64.59M | 68.77M |
Non current liabilities | |||||
Long term debt | 631.61M | 627.35M | 629.71M | 628.91M | 629.46M |
Provision for risks and charges | 1.48M | 1.45M | 6.37M | 4.25M | 9.58M |
Deferred liabilities | 36.17M | 32.06M | 32.19M | 23.71M | 21.80M |
Derivative product liabilities | — | — | — | — | — |
Other non current liabilities | 20.02M | 22.70M | 15.37M | 32.23M | 34.43M |
Shareholders equity | |||||
Common stock | 97.36M | 99.79M | 101.67M | 104.52M | 103.65M |
Retained earnings | 1.17B | 1.12B | 1.07B | 992.60M | 1.00B |
Other shareholders equity | -434.59M | -414.34M | -413.95M | -330.33M | -417.24M |
Total shareholders equity | 1.29B | 1.31B | 1.29B | 1.37B | 1.27B |
Additional paid in capital | 416.62M | 465.41M | 494.20M | 562.82M | 538.58M |
Treasury stock | — | — | — | — | — |
Minority interest | 38.72M | 38.72M | 38.67M | 38.60M | 38.90M |
Cash flow statement
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||||||||||||||||||||||||||||
Net Income | 113.64M | 123.37M | 150.20M | 58.42M | -5.05M | 247.88M | 205.06M | 51.98M | -223.88M | -370.96M | 162.20M | 206.92M | 310.83M | 232.28M | 48.20M | -118.63M | 167.78M | 174.24M | 256.28M | 119.29M | 73.58M | 18.13M | -211.91M | 53.29M | 51.98M | 39.10M | 71.20M | 72.00M | 69.70M | 68.30M | 10.90M | 20.10M | 12.90M | 21.10M | 32.10M | 30.00M |
Depreciation | 134.69M | 134.03M | 131.68M | 126.49M | 119.86M | 112.05M | 108.68M | 107.66M | 117.47M | 131.66M | 130.22M | 113.10M | 104.07M | 93.47M | 96.43M | 96.38M | 94.73M | 78.66M | 71.14M | 66.88M | 65.99M | 84.04M | 73.63M | 97.30M | 101.65M | 96.00M | 67.40M | 41.40M | 40.20M | 39.30M | 43.20M | 30.90M | 31.30M | 32.70M | 29.90M | 26.40M |
Deferred Taxes | -8.02M | -9.22M | 11.29M | -21.19M | -23.90M | 2.81M | 22.92M | 6.27M | 8.33M | -48.58M | 23.12M | 232,000 | 28.60M | -7.88M | 230,000 | -10.90M | 31.97M | -8.94M | 8.84M | 13.60M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Stock-Based Compensation | 24.34M | 24.66M | 20.99M | 24.80M | 16.05M | 22.85M | 20.83M | 21.07M | 18.13M | 16.83M | 17.64M | 21.87M | 21.50M | 18.85M | 16.64M | 9.41M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other Non-Cash Items | 13.56M | 11.19M | -3.00M | 21.49M | 36.79M | 2.45M | 4.40M | 1.90M | 112.67M | 550.13M | 5.51M | 2.58M | -12.70M | -6.96M | -3.65M | -1.09M | 10.09M | 25.25M | 39.22M | — | -7.19M | — | — | — | 1.19M | 100,000 | -100,000 | — | 100,000 | -100,000 | 100,000 | -100,000 | — | — | 100,000 | -100,000 |
Accounts Receivable | -2.62M | -11.54M | -14.43M | -53.32M | 128.72M | 17.32M | -22.20M | -7.61M | 32.66M | 46.55M | -45.04M | 33.80M | -10.89M | -89.15M | -58.25M | 200.16M | -14.30M | -31.06M | -136.74M | -46.07M | -4.20M | 11.48M | 35.80M | 14.82M | -17.26M | 26.00M | -17.00M | -8.00M | -20.40M | -23.80M | -11.40M | -1.60M | 8.60M | -1.50M | -6.60M | -5.20M |
Accounts Payable | -6.09M | -32.51M | 32.00M | 46.78M | -46.32M | -49.38M | -5.05M | 54.55M | 991,000 | -8.22M | 13.75M | -90.45M | -57.00M | 100.33M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other Assets & Liabilities | 23.83M | 17.14M | -156.52M | 50.50M | -284,000 | -64.47M | -68.43M | -47.35M | 50.26M | 44.19M | -23.04M | -4.85M | -80.68M | -132.29M | 4.48M | 9.11M | -47.53M | -79.42M | 67.41M | 13.93M | 10.26M | 44.51M | 17.54M | -89,000 | 20.83M | 74.40M | -40.90M | -10.30M | -11.80M | -29.80M | 5.40M | -1.50M | -4.40M | -11.40M | 2.60M | 4.30M |
Operating Cash Flow | 293.33M | 257.09M | 172.21M | 253.96M | 225.87M | 291.51M | 266.21M | 188.47M | 116.62M | 361.60M | 284.36M | 283.20M | 303.74M | 208.64M | 104.09M | 184.45M | 242.74M | 158.73M | 306.16M | 167.63M | 138.43M | 158.16M | -84.93M | 165.32M | 158.39M | 235.60M | 80.60M | 95.10M | 77.80M | 53.90M | 48.20M | 47.80M | 48.40M | 40.90M | 58.10M | 55.40M |
Investing Activities | ||||||||||||||||||||||||||||||||||||
Capital Expenditures | -102.14M | -89.36M | -96.00M | -122.93M | -241.53M | -201.10M | -156.65M | -113.00M | -104.72M | -84.82M | -116.14M | -79.82M | -96.15M | -73.69M | -51.54M | -101.93M | -160.65M | -88.55M | -79.59M | -47.33M | -52.74M | -47.54M | -33.14M | -55.70M | -42.55M | -89.00M | -792.90M | -91.70M | -51.30M | -39.70M | -40.20M | -21.60M | -32.60M | -48.20M | -66.10M | -55.10M |
Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | -10.00M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Net Acquisitions | -4.01M | — | 1.00M | — | 23.95M | — | — | — | 56.13M | — | -624.39M | -500,000 | -382.56M | — | -16.95M | -69.49M | 20.26M | -210.32M | 352.36M | -136.60M | -65.85M | -166.08M | -5.39M | — | — | — | — | — | — | — | — | — | — | — | — | — |
Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -300,000 | -14.20M | — | — | — | — | — | — | — | — | — |
Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | 1.72M | 27.79M | 1.65M | 5.92M | — | 2.96M | — | — | — | — | — | — | -12.20M | — | — | — | — | — | — | — | — | — | — |
Investing Cash Flow | -109.43M | -89.23M | -94.94M | -122.98M | -218.34M | -201.48M | -156.87M | -112.75M | -47.93M | -84.55M | -740.17M | -80.70M | -477.27M | -71.83M | -40.42M | -170.06M | -131.24M | -302.54M | 239.33M | -185.92M | -92.59M | -219.38M | -43.27M | -102.50M | -43.09M | -102.00M | -813.10M | -90.80M | -50.00M | -44.90M | -42.50M | -24.00M | -35.10M | -50.60M | -63.80M | -54.10M |
Financing Activities | ||||||||||||||||||||||||||||||||||||
Long-Term Debt Issuance | — | — | — | 298.47M | — | — | 295.86M | 25.30M | 50.07M | 89.71M | 736.08M | 944.15M | 1.51B | 450.11M | 564.37M | 974.25M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Long-Term Debt Payments | — | -20.27M | -6.07M | -800.00M | -175,000 | -400.72M | -190,000 | -26.22M | -94.58M | -372.38M | -450.93M | -736.56M | -1.32B | -451.75M | -707.36M | -860.52M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other Financing Charges | -3.47M | -2.98M | -4.65M | -6.61M | -2.76M | 161,000 | -1.63M | -6.32M | -181,000 | -7.04M | 1.21M | -2.61M | -33.57M | 988,000 | 3.75M | 19.62M | -1.03M | -7.18M | -2.61M | -2.69M | -1.26M | 14.49M | -11.72M | -949,000 | 10.26M | -1.10M | -5.40M | 100,000 | — | — | 2.70M | 5.50M | -500,000 | — | 500,000 | 1.20M |
Financing Cash Flow | -132.48M | -156.07M | -143.83M | -1.08B | 430.92M | -466.69M | 229.22M | -71.92M | -114.99M | -410.45M | 243.73M | 34.79M | 106.66M | -114.35M | -85.50M | -15.53M | -87.64M | -29.43M | -49.57M | 9.46M | 910,000 | -2.41M | 98.29M | -15.65M | -10.31M | -18.10M | 248.70M | -40.50M | -13.30M | -11.50M | 71.00M | -7.10M | -9.20M | -7.50M | -8.60M | -8.60M |
Other Cash Details | ||||||||||||||||||||||||||||||||||||
End Cash Position | 127.97M | 106.02M | 85.59M | 154.05M | 606.68M | 182.02M | 556.15M | 190.63M | 161.58M | 105.49M | 177.93M | 377.32M | 116.47M | 204.57M | 118.13M | 69.82M | 86.48M | 50.43M | 233.98M | 43.22M | 25.94M | 15.09M | 10.39M | 12.94M | 22.32M | 17.40M | 18.40M | 21.90M | — | — | — | — | — | — | — | — |
Income Tax Paid | 48.52M | 43.73M | 36.11M | 48.91M | — | — | 27.89M | 16.76M | 26.25M | 40.30M | 49.39M | 51.10M | 55.73M | 60.46M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Interest Paid | 26.38M | 28.19M | 25.28M | 43.60M | — | — | 35.97M | 27.53M | 43.73M | 30.98M | 29.84M | 24.43M | 27.40M | 26.62M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Free Cash Flow | 169.55M | 163.56M | 84.52M | 108.38M | -20.41M | 88.18M | 106.30M | 77.32M | 111.80M | 250.50M | 154.50M | 201.32M | 176.54M | 147.36M | 108.15M | 87.42M | 116.30M | 107.01M | -60.54M | 113.78M | 120.90M | 132.13M | 111.12M | 127.63M | 170.54M | 126.40M | -758.60M | 7.10M | 27.90M | 13.20M | -16.70M | 18.90M | 10.70M | -11.90M | -2.70M | 5.90M |