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

CEO
Mr. Sanjay K. Chowbey
Employees
8,400
Instrument type
Common Stock
Sector
Industrials
Industry
Tools & Accessories
MIC code
XNYS
Address
525 William Penn Place, Pittsburgh, PA 15219, United States
Phone
412 248 8000
Website
Chart Image
× Enlarged Chart
Oscillators
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Summary
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Moving Averages
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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
[stock_revenue_estimate]

Growth estimates

Current qtr
-10.970%
Next qtr. (Mar 2025)
27.830%
Current year (Jun 2025)
-4.240%
Next year (Jun 2026)
13.160%
Next 5 years (per annum)
Past 5 years (per annum)

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

202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001200019991998199719961995199419931992199119901989
Operating Activities
Net Income113.64M123.37M150.20M58.42M-5.05M247.88M205.06M51.98M-223.88M-370.96M162.20M206.92M310.83M232.28M48.20M-118.63M167.78M174.24M256.28M119.29M73.58M18.13M-211.91M53.29M51.98M39.10M71.20M72.00M69.70M68.30M10.90M20.10M12.90M21.10M32.10M30.00M
Depreciation134.69M134.03M131.68M126.49M119.86M112.05M108.68M107.66M117.47M131.66M130.22M113.10M104.07M93.47M96.43M96.38M94.73M78.66M71.14M66.88M65.99M84.04M73.63M97.30M101.65M96.00M67.40M41.40M40.20M39.30M43.20M30.90M31.30M32.70M29.90M26.40M
Deferred Taxes-8.02M-9.22M11.29M-21.19M-23.90M2.81M22.92M6.27M8.33M-48.58M23.12M232,00028.60M-7.88M230,000-10.90M31.97M-8.94M8.84M13.60M
Stock-Based Compensation24.34M24.66M20.99M24.80M16.05M22.85M20.83M21.07M18.13M16.83M17.64M21.87M21.50M18.85M16.64M9.41M
Other Non-Cash Items13.56M11.19M-3.00M21.49M36.79M2.45M4.40M1.90M112.67M550.13M5.51M2.58M-12.70M-6.96M-3.65M-1.09M10.09M25.25M39.22M-7.19M1.19M100,000-100,000100,000-100,000100,000-100,000100,000-100,000
Accounts Receivable-2.62M-11.54M-14.43M-53.32M128.72M17.32M-22.20M-7.61M32.66M46.55M-45.04M33.80M-10.89M-89.15M-58.25M200.16M-14.30M-31.06M-136.74M-46.07M-4.20M11.48M35.80M14.82M-17.26M26.00M-17.00M-8.00M-20.40M-23.80M-11.40M-1.60M8.60M-1.50M-6.60M-5.20M
Accounts Payable-6.09M-32.51M32.00M46.78M-46.32M-49.38M-5.05M54.55M991,000-8.22M13.75M-90.45M-57.00M100.33M
Other Assets & Liabilities23.83M17.14M-156.52M50.50M-284,000-64.47M-68.43M-47.35M50.26M44.19M-23.04M-4.85M-80.68M-132.29M4.48M9.11M-47.53M-79.42M67.41M13.93M10.26M44.51M17.54M-89,00020.83M74.40M-40.90M-10.30M-11.80M-29.80M5.40M-1.50M-4.40M-11.40M2.60M4.30M
Operating Cash Flow293.33M257.09M172.21M253.96M225.87M291.51M266.21M188.47M116.62M361.60M284.36M283.20M303.74M208.64M104.09M184.45M242.74M158.73M306.16M167.63M138.43M158.16M-84.93M165.32M158.39M235.60M80.60M95.10M77.80M53.90M48.20M47.80M48.40M40.90M58.10M55.40M
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-4.01M1.00M23.95M56.13M-624.39M-500,000-382.56M-16.95M-69.49M20.26M-210.32M352.36M-136.60M-65.85M-166.08M-5.39M
Purchase of Investments-300,000-14.20M
Sale of Investments1.72M27.79M1.65M5.92M2.96M-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-302.54M239.33M-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 Issuance298.47M295.86M25.30M50.07M89.71M736.08M944.15M1.51B450.11M564.37M974.25M
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-2.76M161,000-1.63M-6.32M-181,000-7.04M1.21M-2.61M-33.57M988,0003.75M19.62M-1.03M-7.18M-2.61M-2.69M-1.26M14.49M-11.72M-949,00010.26M-1.10M-5.40M100,0002.70M5.50M-500,000500,0001.20M
Financing Cash Flow-132.48M-156.07M-143.83M-1.08B430.92M-466.69M229.22M-71.92M-114.99M-410.45M243.73M34.79M106.66M-114.35M-85.50M-15.53M-87.64M-29.43M-49.57M9.46M910,000-2.41M98.29M-15.65M-10.31M-18.10M248.70M-40.50M-13.30M-11.50M71.00M-7.10M-9.20M-7.50M-8.60M-8.60M
Other Cash Details
End Cash Position127.97M106.02M85.59M154.05M606.68M182.02M556.15M190.63M161.58M105.49M177.93M377.32M116.47M204.57M118.13M69.82M86.48M50.43M233.98M43.22M25.94M15.09M10.39M12.94M22.32M17.40M18.40M21.90M
Income Tax Paid48.52M43.73M36.11M48.91M27.89M16.76M26.25M40.30M49.39M51.10M55.73M60.46M
Interest Paid26.38M28.19M25.28M43.60M35.97M27.53M43.73M30.98M29.84M24.43M27.40M26.62M
Free Cash Flow169.55M163.56M84.52M108.38M-20.41M88.18M106.30M77.32M111.80M250.50M154.50M201.32M176.54M147.36M108.15M87.42M116.30M107.01M-60.54M113.78M120.90M132.13M111.12M127.63M170.54M126.40M-758.60M7.10M27.90M13.20M-16.70M18.90M10.70M-11.90M-2.70M5.90M
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