Kennametal Q2 EPS $0.29 flat sales; launches $200M buyback; cuts FY24 outlook

KENNAMETAL INC

2024-Q2 EPS reported $0.66 revenue$987,796,000

Q2 sales $495M flat YoY; organic sales down 3%; EPS $0.29 vs $0.27 prior year; adjusted EPS $0.30.
Operating income $28M (5.7% margin) vs $35M (7.1%) prior year; restructuring savings enlarged to $35M by FY24 end.
YTD cash from operations $88M vs $53M prior year; FOCF $36M vs $4M; returned $31M to shareholders ($15M buybacks, $16M dividends).
Board authorized new $200M share repurchase program over three years; $0.20 quarterly dividend declared.
Lowered FY24 guidance: sales $2.02-2.07B, adjusted EPS $1.35-1.65; Q3 sales $510-530M, adjusted EPS $0.25-0.35.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KENNAMETAL INC reported fiscal 2024 second quarter ended December 31, 2023 results: revenue $495 million, EPS $0.29. Guidance lowered.

Period: fiscal 2024 second quarter ended December 31, 2023
Revenue: $495 million
EPS: $0.29
Guidance: lowered
Result: reported results

Exact text from the filing

Kennametal Inc. (NYSE: KMT) (the "Company") today reported results for its fiscal 2024 second quarter ended December 31, 2023, with sales of $495 million, compared to $497 million in the prior year quarter, and earnings per diluted share (EPS) of $0.29, compared with $0.27 in the prior year quarter.

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Source: SEC EDGAR

accession 0000055242-24-000005

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