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On September 04, 2026, Kennametal Inc KMT shares rose by 5.4%, bringing the current price to $31.02. This price movement comes in the context of a 52-week range of $20.35 to $43.81, showcasing significant volatility over the past year.

GF Value™ verdict: Current price of $31.02 vs GF Value of $31.85, indicating a 2.6% undervaluation.GF Score™: 87/100, reflecting a strong overall performance.Most notable signal: Insiders sold $4.8 million worth of shares over the past 12 months, with no buying activity.Is KMT Overvalued or Undervalued?Considering Kennametal's current price of $31.02 against the GF Value™ estimate of $31.85, the stock appears to be slightly undervalued by approximately 2.6%. GF Value™ represents an intrinsic value estimate that takes into account historical trading multiples, business growth patterns, and future performance expectations. This suggests that while KMT is currently trading below its perceived fair value, the margin of safety is minimal, indicating that potential investors should exercise caution. The GF Valuation label classifies the stock as fairly valued, which reinforces the notion that pricing may not sufficiently reflect the company's financial realities.

However, caution is warranted as the GF Value™ can be less reliable when applied to companies that are unprofitable or cash-flow negative. This context arises from KMT's current operating challenges, which complicate traditional earnings-based assessments like the Price-to-Earnings (P/E) ratio. Therefore, while the stock might seem undervalued, prospective buyers should carefully evaluate the inherent risks before making investment decisions.

How Does KMT's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)7.0x18.0xForward P/E6.3xN/ACurrently, KMT's trailing P/E ratio of 7.0x is significantly below its 5-year median of 18.0x, indicating that the stock is trading at a discount compared to its historical valuation. This discrepancy aligns with the GF Value™ assessment, which suggests that KMT is undervalued. However, given the context of the company's profitability issues, this analysis may not fully capture the risks involved.

What Does KMT's GF Score™ Tell Us?The GF Score™ is a composite score reflecting various aspects of a company's performance, including financial strength, profitability, growth potential, valuation metrics, and market momentum. With a GF Score™ of 87/100, KMT is positioned strongly in the market. Notably, the company excels with a valuation rank of 10/10 and a momentum rank of 10/10, highlighting its favorable pricing and recent market performance. However, it shows a weaker financial strength score of 6/10, suggesting areas of concern regarding its balance sheet and operational stability.

MetricRatingGF Score™87Financial Strength6/10Profitability7/10Growth8/10Valuation10/10Momentum10/10The combination of these scores indicates that while KMT has strong valuation and momentum metrics, its financial strength remains a concern. This could imply potential vulnerabilities that investors should be aware of, especially amid market shifts or unfavorable economic conditions.

What Are Gurus and Insiders Doing with KMT?Kennametal Inc currently sees interest from 10 gurus, with 4 increasing their positions and 8 trimming their stakes in recent quarters. This mixed activity suggests a cautious approach among experienced investors, reflecting varying opinions on the stock's future potential.

Additionally, insider activity has shown a negative trend, with insiders selling $4.8 million worth of shares in the past 12 months and no reported purchases. This selling activity may indicate a lack of confidence among insiders regarding the company's near-term prospects, which could be a red flag for potential investors.

What This Means for InvestorsIn summary, based on the GF Value™ assessment, Kennametal Inc KMT appears to be fairly valued at its current price of $31.02, slightly undervalued in relation to the GF Value™ estimate of $31.85. However, the company's unprofitability and insider selling activity present significant risks that should be considered. Understanding these dynamics is crucial for making informed investment decisions. For more detailed information about KMT, visit the Kennametal Inc (KMT) stock page and explore further insights on its valuation.

Frequently Asked QuestionsWhat is KMT's GF Score™?

KMT has a GF Score™ of 87/100, indicating strong overall performance, with particularly high marks in valuation and momentum.

Is KMT overvalued or undervalued?

KMT is slightly undervalued according to the GF Value™ estimate, with a current price of $31.02 compared to a GF Value of $31.85.

What is KMT's P/E ratio?

KMT's trailing P/E ratio is 7.0x, which is significantly below its historical 5-year median of 18.0x, indicating it is trading at a discount compared to its past valuations.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

BlackRock Inc. acquired a new stake in Kennametal Inc. (NYSE:KMT – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,566,208 shares of the industrial products company’s stock, valued at approximately $440,446,000. BlackRock Inc. owned about 16.49% of Kennametal as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in KMT. Deutsche Bank AG purchased a new stake in Kennametal in the second quarter valued at $9,166,000. Bank of New York Mellon Corp purchased a new position in shares of Kennametal during the 2nd quarter worth $33,949,000. State of Wyoming purchased a new position in shares of Kennametal during the 2nd quarter worth $1,027,000. GSA Capital Partners LLP acquired a new stake in shares of Kennametal during the 2nd quarter worth about $1,187,000. Finally, Summit Global Investments acquired a new stake in shares of Kennametal during the 2nd quarter worth about $1,434,000.

Insiders Place Their Bets In other Kennametal news, VP Judith L. Bacchus sold 5,488 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $35.94, for a total value of $197,238.72. Following the completion of the transaction, the vice president owned 4,554 shares of the company’s stock, valued at $163,670.76. This trade represents a 54.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sagar A. Patel sold 29,499 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $33.50, for a total transaction of $988,216.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,000 shares of company stock worth $1,583,326 in the last ninety days. 1.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Morgan Stanley downgraded shares of Kennametal from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $31.00 to $27.00 in a research note on Monday, August 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Kennametal in a report on Monday, August 17th. DA Davidson dropped their target price on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. cut their target price on Kennametal from $40.00 to $34.00 and set an “underweight” rating on the stock in a research report on Monday, July 13th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $34.07. Check Out Our Latest Stock Report on Kennametal

Kennametal Stock Performance NYSE KMT opened at $29.26 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.62 and a quick ratio of 0.98. The company has a market cap of $2.23 billion, a P/E ratio of 6.65, a P/E/G ratio of 0.29 and a beta of 1.36. The stock has a 50-day moving average of $33.58 and a two-hundred day moving average of $36.01. Kennametal Inc. has a 1-year low of $20.35 and a 1-year high of $43.81.

Kennametal (NYSE:KMT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.65. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The business had revenue of $736.61 million for the quarter, compared to analysts’ expectations of $725.74 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 42.6% on a year-over-year basis. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. As a group, analysts anticipate that Kennametal Inc. will post 4.82 EPS for the current year.

Kennametal Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Kennametal’s dividend payout ratio is presently 18.18%.

Kennametal Company Profile (Free Report)

Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.

The company’s product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.

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, /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced the election of Dawne S. Hickton and Richard J. Harshman to its Board of Directors, effective immediately. Hickton is Chair, CEO and lead investor of Cumberland Additive, Inc., an additive manufacturing business serving aerospace, defense and space requirements. Harshman is the former Chairman, President and CEO of ATI, Inc. and currently serves on the Board of Directors for two other publicly traded companies.

"Dawne and Rich bring outstanding executive leadership, public company board experience and deep knowledge of the industrial, materials, and aerospace and defense markets to our Board of Directors," said Sanjay Chowbey, President and CEO of Kennametal. "Their strategic, operational and financial expertise will strengthen our Board and help us continue to execute our strategy and create long-term value for shareholders."

William M. Lambert, outgoing Chairman of Kennametal's Board of Directors, added: "Dawne and Rich each have a proven record leading complex, global businesses. Their experience in governance, manufacturing and end markets are closely aligned with Kennametal and will be valuable to the Board and our management team."

About Hickton

Hickton is Chair, CEO and lead investor of Cumberland Additive, Inc., an additive manufacturing business with manufacturing locations in Austin, Texas and Pittsburgh, Pennsylvania, serving customers in space, aerospace and defense.

Prior to Cumberland Additive, Hickton served as Executive Vice President of Jacobs and President of its Critical Mission Solutions business, which provided engineering design and support services for NASA, nuclear remediation and new-build work, and solutions for national security priorities in the United States and allied countries.

Earlier in her career, Hickton served as Vice Chair, President and CEO of RTI International Metals, Inc., a global supplier of advanced titanium and specialty metals fabricated structural products for aerospace, defense and energy markets. RTI was acquired by Alcoa in 2015.

Hickton currently serves on the Board of Directors of Commercial Metals Company (CMC) and chairs the Board of Directors at Elevra Lithium. She has served on multiple public and private company boards, including Jacobs, Haynes International, Triumph Aerospace Group, Norsk Titanium AS and FNB Bank Corporation, and has also served as Director and Chair of the Federal Reserve Bank of Cleveland. She holds a Bachelor of Arts degree from the University of Rochester and a Juris Doctor degree from the University of Pittsburgh.

About Harshman

Harshman brings extensive executive leadership, financial and corporate governance experience, having spent more than four decades at ATI, Inc. and its predecessor companies. He served as Chairman, President and CEO of ATI from May 2011 to December 2018 and as Executive Chair of the Board from January to May 2019.

Harshman currently serves on the Board of Directors of PNC Financial Services Group Inc., where he chairs the Audit Committee and serves on the Human Resources and Nominating and Governance Committees. He also serves on the Board of Directors of Ameren Corporation, where he chairs the Audit and Risk Committee and serves on the Human Resources Committee.

During his career at ATI and its predecessor companies, Harshman held roles including Executive Vice President and CFO, Senior Vice President of Investor Relations and Corporate Communications, Vice President of Business Ethics and Compliance, and senior finance and operational finance roles across aerospace, electronics and specialty materials businesses.

Harshman holds a BSBA in Accounting from Robert Morris University and received a Certified Public Accounting certificate from the California State Board of Accountancy.

About Kennametal

With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2.4 billion in revenues in fiscal 2026. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

SOURCE Kennametal Inc.

Posted by Defense World Staff on Aug 8th, 2026

Amundi increased its stake in Kennametal Inc. (NYSE:KMT – Free Report) by 92.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 47,229 shares of the industrial products company’s stock after buying an additional 22,705 shares during the quarter. Amundi owned 0.06% of Kennametal worth $1,706,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN raised its holdings in Kennametal by 3.8% during the fourth quarter. OLD National Bancorp IN now owns 10,226 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 377 shares in the last quarter. Baron Wealth Management LLC grew its position in shares of Kennametal by 3.8% in the 1st quarter. Baron Wealth Management LLC now owns 11,972 shares of the industrial products company’s stock valued at $433,000 after buying an additional 439 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Kennametal by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 14,799 shares of the industrial products company’s stock valued at $420,000 after buying an additional 450 shares during the last quarter. ARK Investment Management LLC raised its stake in Kennametal by 16.6% during the 4th quarter. ARK Investment Management LLC now owns 3,210 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 457 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Kennametal by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 42,796 shares of the industrial products company’s stock worth $1,215,000 after acquiring an additional 492 shares in the last quarter.

Insider Transactions at Kennametal In other Kennametal news, VP Judith L. Bacchus sold 5,488 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $35.94, for a total value of $197,238.72. Following the sale, the vice president owned 4,554 shares in the company, valued at approximately $163,670.76. This trade represents a 54.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Carlonda R. Reilly sold 12,013 shares of Kennametal stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $33.12, for a total value of $397,870.56. Following the sale, the vice president directly owned 25,143 shares in the company, valued at approximately $832,736.16. This trade represents a 32.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 47,000 shares of company stock valued at $1,583,326. Insiders own 1.43% of the company’s stock.

Kennametal Stock Performance Shares of KMT stock opened at $33.11 on Friday. The company has a current ratio of 2.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.52 billion, a PE ratio of 7.52, a P/E/G ratio of 0.35 and a beta of 1.36. The company’s fifty day simple moving average is $34.38 and its 200-day simple moving average is $36.37. Kennametal Inc. has a 52 week low of $19.80 and a 52 week high of $43.81.

Kennametal (NYSE:KMT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.65. Kennametal had a return on equity of 24.83% and a net margin of 14.53%.The company had revenue of $736.61 million during the quarter, compared to the consensus estimate of $725.74 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s revenue was up 42.6% compared to the same quarter last year. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. As a group, equities research analysts anticipate that Kennametal Inc. will post 4.65 EPS for the current year.

Kennametal Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. Kennametal’s payout ratio is presently 45.20%.

Wall Street Analyst Weigh In Several research analysts have commented on KMT shares. Zacks Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings lowered shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. DA Davidson assumed coverage on shares of Kennametal in a report on Tuesday, June 16th. They issued a “neutral” rating and a $34.00 target price on the stock. Barclays cut shares of Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $40.00 to $33.00 in a research note on Wednesday, May 27th. Finally, Morgan Stanley dropped their price objective on shares of Kennametal from $36.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, July 17th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Kennametal presently has a consensus rating of “Reduce” and a consensus price target of $35.79.

Check Out Our Latest Stock Analysis on KMT

Kennametal Profile (Free Report)

Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.

The company’s product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.

Further Reading Five stocks we like better than Kennametal Datadog’s Drop Says More About Expectations Than Earnings D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus Solventum Nears Inflection Point As It Begins to Unlock Value Want to see what other hedge funds are holding KMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennametal Inc. (NYSE:KMT – Free Report).

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Key Takeaways Kennametal's adjusted EPS rose 770.6%, while sales climbed 42.7% to $736.6 million.Favorable raw-material pricing timing helped lift KMT's adjusted operating margin to 41.5%.Kennametal projects fiscal 2027 sales of $3.33-$3.45 billion and adjusted EPS of $4.15-$5.15. Kennametal Inc. (KMT - Free Report) reported adjusted earnings of $2.96 per share for the fourth quarter of fiscal 2026, up 770.6% year over year. The bottom line beat the Zacks Consensus Estimate of $2.31 by 28.1%.

Sales rose 42.7% year over year to $736.6 million and surpassed the consensus estimate of $720 million by 2.3%.

KMT's Sales Growth Spans End MarketsReported sales growth reflected a 42% organic increase, a 1% favorable foreign-currency impact and a 1% benefit from business days, partly offset by a 1% divestiture drag. The Americas led constant-currency regional growth at 60%, followed by Asia Pacific at 28% and EMEA at 24%.

Energy sales jumped 101% in constant currency, while Earthworks advanced 76%. Aerospace & Defense rose 43%, General Engineering increased 28% and Transportation grew 7%. Management cited higher pricing, strategic wins and better market activity across several end markets.

Kennametal's Margins Expand SharplyIn the fiscal fourth quarter, Kennametal’s cost of goods sold decreased 18.3% year over year to $303.1 million. Operating expenses were $125.6 million, up 18.6% year over year.

Adjusted operating income was $305.7 million, translating into a 41.5% margin, compared with $38.2 million and 7.4% a year earlier. Adjusted EBITDA reached $345 million, with the margin expanding to 46.8% from 14.8%.

The improvement was driven mainly by about $252 million of favorable timing between raw material-related pricing and costs. Non-raw-material pricing, tariff surcharges, higher sales and production volumes and $5 million of restructuring savings also helped. Compensation costs, tariffs and inflation were offsets.

KMT's Metal Cutting Segment AdvancesMetal Cutting revenues increased 24% year over year to $397.8 million. Organic sales rose 22%, supported by a 1% currency benefit and a 1% business-days contribution. Constant-currency sales climbed 29% in the Americas, 20% in Asia Pacific and 16% in EMEA.

Adjusted operating income totaled $108.4 million and adjusted operating margin expanded to 27.3% from 7.9%. Results benefited from roughly $54 million of favorable raw-material pricing timing, non-raw-material pricing, tariff surcharges, higher volume and $4 million of restructuring savings.

Kennametal's Infrastructure Results SurgeInfrastructure revenues rose 73% to $338.8 million, while organic sales increased 74%. A 1% currency benefit and a 1% business-days benefit were partly offset by a 3% divestiture impact. Constant-currency growth reached 103% in the Americas, 46% in EMEA and 40% in Asia Pacific.

Adjusted operating income was $197.9 million, with adjusted margin surging to 58.4% from 6.8%. About $198 million of favorable raw-material pricing timing drove the gain, partly offset by lower volume of sales and production, an increase in compensation costs and general inflation.

KMT's Cash Flow Feels Working Capital StrainFiscal 2026 cash used in operating activities was $4.0 million against $208.3 million generated in the prior year. Free operating cash flow was negative $79.1 million against positive $121.2 million, reflecting higher working capital needs tied to tungsten-driven inventory values and supplier advances.

Kennametal ended fiscal 2026 with $95.8 million in cash and cash equivalents, down from $140.5 million a year earlier. Inventories increased to $1.11 billion from $538.2 million, while long-term debt rose to $685.3 million from $596.8 million. The company paid $60.8 million in dividends during the year.

Kennametal's Fiscal 2027 OutlookFor the first quarter of fiscal 2027, KMT expects sales of $745-$775 million and adjusted earnings of $2.50-$2.80 per share. The outlook assumes 1-4% volume growth, 50-53% price and tariff-surcharge realization and a neutral foreign-exchange impact.

For fiscal 2027, sales are projected at $3.33-$3.45 billion, with adjusted earnings of $4.15-$5.15 per share. Management expects free operating cash flow of about 20% of adjusted net income and capital spending near $85 million. Share repurchases will remain on hold until cash flow becomes positive.

Zacks Rank and Stocks to ConsiderThe company currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks from the same space are discussed below:

Applied Industrial Technologies (AIT - Free Report) carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Applied Industrial’s earnings surpassed the consensus estimate in each of the trailing four quarters. The average earnings surprise was 4.0%.  In the past 60 days, the Zacks Consensus Estimate for Applied Industrial’s fiscal 2026 bottom line has inched up 0.1%.

IDEX Corporation (IEX - Free Report) presently carries a Zacks Rank of 2. IDEX’s earnings surpassed the consensus estimate in each of the trailing four quarters. The average earnings surprise was 7.7%. In the past 60 days, the Zacks Consensus Estimate for IEX’s 2026 earnings has increased 1.4%.

The Middleby Corporation (MIDD - Free Report) currently carries a Zacks Rank of 2. Middleby’s earnings topped the consensus estimate in each of the trailing four quarters. The average earnings surprise was 10.4%. In the past 60 days, the Zacks Consensus Estimate for MIDD’s 2026 earnings has increased 0.3%.

For the quarter ended June 2026, Kennametal (KMT - Free Report) reported revenue of $736.61 million, up 42.6% over the same period last year. EPS came in at $2.96, compared to $0.34 in the year-ago quarter.

The reported revenue represents a surprise of +2.32% over the Zacks Consensus Estimate of $719.89 million. With the consensus EPS estimate being $2.31, the EPS surprise was +28.14%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Kennametal performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Total Sales- Infrastructure: $338.79 million versus the two-analyst average estimate of $314.1 million. The reported number represents a year-over-year change of +73%.Total Sales- Metal Cutting: $397.83 million versus $405.79 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +24.1% change.Operating Income (loss)- Corporate: $-0.66 million compared to the $-0.21 million average estimate based on two analysts.Operating Income- Proforma- Infrastructure: $197.87 million versus the two-analyst average estimate of $49.75 million.Operating Income- Proforma- Metal Cutting: $108.45 million compared to the $54.06 million average estimate based on two analysts.View all Key Company Metrics for Kennametal here>>>

Shares of Kennametal have returned +8.1% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

Q4 sales of $737 million increased 43 percent and 42 percent on a reported and organic basis, respectively Q4 earnings per diluted share (EPS) of $2.91 and record adjusted EPS of $2.96 FY26 EPS of $4.42 and record adjusted EPS of $4.57 Company provides FY27 Q1 and annual Outlook , /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) (the "Company") today announced fourth quarter and fiscal 2026 results.

"Our team delivered strong fiscal 2026 results, reflecting volume from improving market conditions and our strategic growth initiatives," said Sanjay Chowbey, President and CEO. "We achieved record adjusted EPS this quarter through decisive pricing actions in an unprecedented tungsten environment, volume growth and cost improvement efforts."

He continued: "Looking ahead, we are encouraged by the volume trends we have seen across several end markets and expect those improving conditions, along with our strategic initiatives, to continue to drive sales growth throughout fiscal 2027. Recent wins in the Aerospace & Defense, Energy and Earthworks end markets showcase the ability of our team to take share in any market condition. I am confident that our commitment to above market growth and continuous improvement will unlock long-term value for shareholders."

Fiscal 2026 Fourth Quarter Key Developments

Sales of $737 million increased 43 percent from $516 million in the prior year quarter, reflecting organic sales growth of 42 percent, a favorable foreign currency exchange effect of 1 percent and a favorable business days effect of 1 percent, partially offset by a divestiture effect of 1 percent.

Operating income was $303 million, or 41.1 percent margin, compared with $31 million, or 6.1 percent margin, in the prior year quarter. The increase in operating income was driven by the favorable timing of raw material-related pricing compared to costs of approximately $252 million, non-raw material-related pricing and tariff surcharges in Metal Cutting, higher sales and production volumes and incremental year-over-year restructuring savings of approximately $5 million. These factors were partially offset by higher compensation costs and tariffs and general inflation. Adjusted operating income was $306 million, or 41.5 percent margin, compared with $38 million, or 7.4 percent margin, in the prior year quarter.

Fiscal 2026 Key Developments

Sales of $2,357 million increased 20 percent from $1,967 million in the prior year, reflecting organic sales growth of 19 percent and a favorable foreign currency exchange effect of 2 percent, partially offset by a divestiture effect of 1 percent.

Operating income was $473 million, or 20.1 percent margin, compared with $143 million, or 7.3 percent margin, in the prior year. The increase in operating income was driven by the favorable timing of raw material-related pricing compared to raw material costs of approximately $316 million, non-raw material-related pricing and tariff surcharges in Metal Cutting, higher sales and production volumes and incremental year-over-year restructuring savings of approximately $27 million. These factors were partially offset by higher compensation costs, tariffs and general inflation, and fewer insurance proceeds received within Infrastructure in the current year. Adjusted operating income was $484 million, or 20.5 percent margin, compared with $158 million, or 8.0 percent margin, in the prior year.

Net cash flow from operating activities in fiscal 2026 was negative $4 million compared to positive $208 million in the prior year. The decline was driven primarily by working capital requirements, including increased inventory values resulting from unprecedented tungsten price increases, as well as advance payments made to certain suppliers to secure raw material supply. These working capital requirements were partially offset by higher net income during the year. Free operating cash flow (FOCF) was negative $79 million compared to positive $121 million in the prior year. The decrease in FOCF was driven primarily by the aforementioned working capital requirements, partially offset by higher net income and lower capital expenditures compared to the prior year.

Outlook

The Company's expectations for the first quarter of fiscal 2027 and the full year are as follows:

Quarterly Outlook:

Sales expected to be $745 - $775 million; foreign exchange anticipated to be neutral compared to the first quarter of fiscal 2026 Adjusted EPS is expected to be $2.50 - $2.80 Annual Outlook:

Sales expected to be $3.33 - $3.45 billion; foreign exchange anticipated to be neutral compared to the fiscal 2026 Adjusted EPS is expected to be $4.15 - $5.15 Free operating cash flow of approximately 20 percent of adjusted net income Capital spending expected to be approximately $85 million The Company will provide more details regarding its fiscal 2027 assumptions during its quarterly earnings conference call.

Fiscal 2026 Fourth Quarter Segment Results

Metal Cutting sales of $398 million increased 24 percent from $321 million in the prior year quarter, reflecting organic sales growth of 22 percent, a favorable foreign currency exchange effect of 1 percent and a favorable business days effect of 1 percent. Operating income was $106 million, or 26.7 percent margin, compared to $21 million, or 6.6 percent margin, in the prior year quarter. The increase in operating income was driven by the favorable timing of raw material-related pricing compared to costs of approximately $54 million, non-raw material-related pricing and tariff surcharges, higher sales and production volumes and incremental year-over-year restructuring savings of approximately $4 million. These factors were partially offset by higher compensation costs and general inflation in the current quarter. Adjusted operating income was $108 million, or 27.3 percent margin, compared to $25 million, or 7.9 percent margin, in the prior year quarter.

Infrastructure sales of $339 million increased 73 percent from $196 million in the prior year quarter, reflecting organic sales growth of 74 percent, a favorable currency exchange effect of 1 percent and a favorable business days effect of 1 percent, partially offset by a divestiture effect of 3 percent. Operating income was $197 million, or 58.3 percent margin, compared to $11 million, or 5.5 percent margin, in the prior year quarter. The increase in operating income was driven by the favorable timing of raw material-related pricing compared to costs of approximately $198 million, partially offset by lower sales and production volumes, higher compensation costs and general inflation in the current quarter. Adjusted operating income was $198 million, or 58.4 percent margin, compared to $13 million, or 6.8 percent margin, in the prior year quarter.

Dividend Declared

Kennametal also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share. The dividend is payable on August 25, 2026 to shareholders of record as of the close of business on August 11, 2026.

Earnings Call and Webcast

The Company will discuss its fiscal 2026 fourth quarter and full year results in a live webcast at 9:30 a.m. Eastern Time, Wednesday, August 5, 2026. The conference call will be broadcast via real-time audio on Kennametal's investor relations website at https://investors.kennametal.com/ - click "Event" (located in the blue Quarterly Earnings block).

This earnings release contains non-GAAP financial measures. Reconciliations and descriptions of all non-GAAP financial measures are set forth in the tables that follow.

Certain statements in this release may be forward-looking in nature, or "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements that do not relate strictly to historical or current facts. For example, statements about Kennametal's outlook for sales, adjusted operating income, adjusted EPS, FOCF and capital expenditures for the first quarter and full year of fiscal 2027 and our expectations regarding future growth and financial performance are forward-looking statements. Any forward-looking statements are based on current knowledge, expectations and estimates that involve inherent risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, our actual results could vary materially from our current expectations. There are a number of factors that could cause our actual results to differ from those indicated in the forward-looking statements. They include: uncertainties related to changes in macroeconomic and/or global conditions, including as a result of increased inflation, tariffs, and Russia's invasion of Ukraine and the resulting sanctions on Russia; the conflicts in the Middle East; other economic recession; our ability to achieve all anticipated benefits of restructuring initiatives; Commercial Excellence growth initiatives, Operational Excellence initiatives, our foreign operations and international markets, such as currency exchange rates, different regulatory environments, trade barriers, exchange controls, and social and political instability, including the conflicts in Ukraine and the Middle East; changes in the regulatory environment in which we operate, including environmental, health and safety regulations; potential for future goodwill and other intangible asset impairment charges; our ability to protect and defend our intellectual property; continuity of information technology infrastructure; competition; our ability to retain our management and employees; demands on management resources; availability and cost of the raw materials we use to manufacture our products, including tungsten; product liability claims; integrating acquisitions and achieving the expected savings and synergies; global or regional catastrophic events; demand for and market acceptance of our products; business divestitures; energy costs; commodity prices; labor relations; and implementation of environmental remediation matters. Many of these risks and other risks are more fully described in Kennametal's latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission. We can give no assurance that any goal or plan set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of future events or developments.

About Kennametal

With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2.4 billion in revenues in fiscal 2026. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

FINANCIAL HIGHLIGHTS

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

Three Months Ended
June 30,

Twelve Months Ended
June 30,

(in thousands, except per share amounts)

2026

2025

2026

2025

Sales

$   736,614

$   516,448

$ 2,356,698

$ 1,966,845

Cost of goods sold

303,055

370,783

1,386,742

1,368,775

     Gross profit

433,559

145,665

969,956

598,070

Operating expense

125,616

105,860

478,993

430,835

Restructuring and other charges, net

2,677

4,278

8,909

11,813

Loss on divestiture

—

1,512

—

1,512

Amortization of intangibles

2,384

2,646

9,522

10,787

     Operating income

302,882

31,369

472,532

143,123

Interest expense

10,023

6,225

28,561

24,930

Other income, net

(6,393)

(5,223)

(17,358)

(13,811)

     Income before income taxes

299,252

30,367

461,329

132,004

Provision for income taxes

69,790

7,244

110,915

33,296

Net income

229,462

23,123

350,414

98,708

Less: Net income attributable to noncontrolling interests

2,485

1,531

8,025

5,583

Net income attributable to Kennametal

$   226,977

$     21,592

$   342,389

$     93,125

PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS

Basic earnings per share

$        2.98

$        0.28

$        4.49

$        1.21

Diluted earnings per share

$        2.91

$        0.28

$        4.42

$        1.20

Dividends per share

$        0.20

$        0.20

$        0.80

$        0.80

Basic weighted average shares outstanding

76,274

76,209

76,215

77,264

Diluted weighted average shares outstanding

77,929

76,934

77,424

77,894

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands)

June 30, 2026

June 30, 2025

 ASSETS

Cash and cash equivalents

$         95,791

$       140,540

Accounts receivable, net

408,438

295,401

Inventories

1,108,450

538,237

Other current assets

159,092

65,092

Total current assets

1,771,771

1,039,270

Property, plant and equipment, net

843,584

919,914

Goodwill and other intangible assets, net

335,099

349,935

Other assets

219,151

236,293

Total assets

$     3,169,605

$    2,545,412

 LIABILITIES

Revolving and other lines of credit and notes payable

$         32,170

$            977

Accounts payable

369,841

195,929

Other current liabilities

274,697

225,423

Total current liabilities

676,708

422,329

Long-term debt

685,280

596,788

Other liabilities

194,180

201,647

Total liabilities

1,556,168

1,220,764

KENNAMETAL SHAREHOLDERS' EQUITY

1,569,844

1,283,979

NONCONTROLLING INTERESTS

43,593

40,669

Total liabilities and equity

$     3,169,605

$    2,545,412

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED)

Year ended June 30 (in thousands)

2026

2025

OPERATING ACTIVITIES

Net income

$  350,414

$      98,708

Adjustments to reconcile to cash from operations:

Depreciation

133,633

125,709

Amortization

9,522

10,787

Stock-based compensation expense

34,851

22,115

Restructuring and other charges, net

8,909

11,813

Deferred income taxes

44,686

(13,084)

Gain on insurance recoveries

(3,400)

(12,100)

Loss on divestiture

—

1,512

Debt refinancing charge

1,261

—

Other

10,648

2,048

Changes in certain assets and liabilities:

Accounts receivable

(116,866)

9,068

Inventories

(593,396)

(17,396)

Other current assets

(102,093)

2,002

Accounts payable and accrued liabilities

226,097

(6,157)

Accrued income taxes

11,006

(12,267)

Accrued pension and postretirement benefits

(7,051)

(7,393)

Other

(12,229)

(7,041)

Net cash flow (used for) provided by operating activities

(4,008)

208,324

INVESTING ACTIVITIES

Purchases of property, plant and equipment

(76,905)

(88,971)

Disposals of property, plant and equipment

1,775

1,841

Proceeds from divestiture

—

18,689

Proceeds from insurance recoveries

3,400

11,793

Other

435

(5,177)

Net cash flow used for investing activities

(71,295)

(61,825)

FINANCING ACTIVITIES

Net increase (decrease) in notes payable

11,293

(459)

Net increase in revolving and other lines of credit

20,000

—

Term debt borrowings

296,994

—

Term debt repayments

(209,387)

—

Purchase of capital stock

(10,106)

(60,120)

The effect of employee benefit and stock plans and dividend reinvestment

(8,086)

(7,059)

Cash dividends paid to Shareholders

(60,847)

(61,852)

Other

(8,227)

(4,429)

Net cash flow provided by (used for) financing activities

31,634

(133,919)

Effect of exchange rate changes on cash and cash equivalents

(1,080)

(11)

CASH AND CASH EQUIVALENTS

Net (decrease) increase in cash and cash equivalents

(44,749)

12,569

Cash and cash equivalents, beginning of year

140,540

127,971

Cash and cash equivalents, end of year

$   95,791

$    140,540

SEGMENT DATA (UNAUDITED)

Three Months Ended
June 30,

Twelve Months Ended
June 30,

(in thousands)

2026

2025

2026

2025

Outside Sales:

Metal Cutting

$   397,827

$   320,652

$ 1,397,418

$ 1,219,686

Infrastructure

338,787

195,796

959,280

747,159

Total sales

$   736,614

$   516,448

$ 2,356,698

$ 1,966,845

Sales By Geographic Region:

Americas

$   400,814

$   254,263

$ 1,211,850

$   967,608

EMEA

203,580

158,402

687,131

601,087

Asia Pacific

132,220

103,783

457,717

398,150

Total sales

$   736,614

$   516,448

$ 2,356,698

$ 1,966,845

Operating Income:

Metal Cutting

$   106,159

$     21,067

$   195,605

$     86,375

Infrastructure

197,381

10,696

279,893

58,465

Corporate (1)

(658)

(394)

(2,966)

(1,717)

Total operating income

$   302,882

$     31,369

$   472,532

$   143,123

(1) Represents unallocated corporate expenses.

NON-GAAP RECONCILIATIONS (UNAUDITED)

In addition to reported results under generally accepted accounting principles in the United States of America (GAAP), the following financial highlight tables include, where appropriate, a reconciliation of adjusted results including: operating income and margin; ETR; net income attributable to Kennametal; diluted EPS; Metal Cutting operating income and margin; Infrastructure operating income and margin; FOCF; and consolidated and segment organic sales growth (all of which are non-GAAP financial measures), to the most directly comparable GAAP financial measures. Adjustments for the three months ended June 30, 2026 include restructuring and related charges, loss on early extinguishment of debt and differences in projected annual tax rates. Adjustments for the three months ended June 30, 2025 include restructuring and related charges, loss on divestiture and differences in projected annual tax rates. Adjustments for the twelve months ended June 30, 2026 include restructuring and related charges and loss on early extinguishment of debt. Adjustments for the twelve months ended June 30, 2025 include restructuring and related charges and loss on divestiture. For those adjustments that are presented 'net of tax', the tax effect of the adjustment can be derived by calculating the difference between the pre-tax and the post-tax adjustments presented. The tax effect on adjustments is calculated by preparing an overall tax calculation including the adjustments and then a tax calculation excluding the adjustments. The difference between these calculations results in the tax impact of the adjustments.

Management believes that presentation of these non-GAAP financial measures provides useful information about the results of operations of the Company for the current and past periods. Management believes that investors should have available the same information that management uses to assess operating performance, determine compensation and assess the capital structure of the Company. These non-GAAP financial measures should not be considered in isolation or as a substitute for the most comparable GAAP financial measures. Investors are cautioned that non-GAAP financial measures used by management may not be comparable to non-GAAP financial measures used by other companies. Reconciliations and descriptions of all non-GAAP financial measures are set forth in the disclosures below.

Reconciliations to the most directly comparable GAAP financial measures for the following forward-looking non-GAAP financial measures for the first quarter and full fiscal year of 2027 have not been provided, including but not limited to: FOCF, adjusted operating income, adjusted net income, and adjusted EPS. The most comparable GAAP financial measures are net cash flow from operating activities, operating income, and net income attributable to Kennametal, respectively. Because the non-GAAP financial measures on a forward-looking basis are subject to uncertainty and variability as they are dependent on many factors - including, but not limited to, the effect of foreign currency exchange fluctuations, impacts from potential acquisitions or divestitures, gains or losses on the potential sale of businesses or other assets, restructuring costs, asset impairment charges, gains or losses from early extinguishment of debt, the tax impact of the items above and the impact of tax law changes or other tax matters - reconciliations to the most directly comparable forward-looking GAAP financial measures are not available without unreasonable effort.

THREE MONTHS ENDED JUNE 30, 2026 (UNAUDITED)

(in thousands, except percents)

Sales

Operating
income

ETR

Net income(2)

Diluted EPS

Reported results

$      736,614

$   302,882

23.3 %

$      226,977

$          2.91

Reported margins

41.1 %

Restructuring and related charges

—

2,778

17.2

2,301

0.03

Loss on early extinguishment of
 debt

—

—

24.5

1,672

0.02

Differences in projected annual tax
 rates

—

—

(41.6)

(235)

—

Adjusted results

$      736,614

$   305,660

23.4 %

$      230,715

$          2.96

Adjusted margins

41.5 %

(2) Attributable to Kennametal.

THREE MONTHS ENDED JUNE 30, 2026 (UNAUDITED)

Metal Cutting

Infrastructure

(in thousands, except percents)

Sales

Operating
income

Sales

Operating income

Reported results

$   397,827

$ 106,159

$   338,787

$ 197,381

Reported operating margin

26.7 %

58.3 %

Restructuring and related charges

—

2,290

—

488

Adjusted results

$   397,827

$ 108,449

$   338,787

$ 197,869

Adjusted operating margin

27.3 %

58.4 %

THREE MONTHS ENDED JUNE 30, 2025 (UNAUDITED)

(in thousands, except percents)

Sales

Operating
income

ETR

Net income(2)

Diluted EPS

Reported results

$      516,448

$     31,369

23.9 %

$       21,592

$          0.28

Reported margins

6.1 %

Restructuring and related charges

—

5,366

23.6

4,100

0.05

Loss on divestiture

—

1,512

24.5

1,142

0.01

Differences in projected annual tax rates

—

—

(46.3)

(691)

—

Adjusted results

$      516,448

$     38,247

25.7 %

$       26,143

$          0.34

Adjusted margins

7.4 %

(2) Attributable to Kennametal.

THREE MONTHS ENDED JUNE 30, 2025 (UNAUDITED)

Metal Cutting

Infrastructure

(in thousands, except percents)

Sales

Operating
income

Sales

Operating
income

Reported results

$   320,652

$  21,067

$   195,796

$  10,696

Reported operating margin

6.6 %

5.5 %

Restructuring and related charges

—

4,266

—

1,101

Loss on divestiture

—

—

—

1,512

Adjusted results

$   320,652

$  25,333

$   195,796

$  13,309

Adjusted operating margin

7.9 %

6.8 %

TWELVE MONTHS ENDED JUNE 30, 2026 (UNAUDITED)

(in thousands, except percents)

Sales

Operating
income

Net income(2)

Diluted EPS

Reported results

$   2,356,698

$        472,532

$       342,389

$          4.42

Reported operating margin

20.1 %

Restructuring and related charges

—

11,413

9,400

0.13

Loss on early extinguishment of debt

—

—

1,671

0.02

Adjusted results

$   2,356,698

$        483,945

$       353,460

$          4.57

Adjusted operating margin

20.5 %

(2) Attributable to Kennametal.

TWELVE MONTHS ENDED JUNE 30, 2025 (UNAUDITED)

(in thousands, except percents)

Sales

Operating
income

Net income(2)

Diluted EPS

Reported results

$   1,966,845

$        143,123

$         93,125

$          1.20

Reported operating margin

7.3 %

Restructuring and related charges

—

13,252

10,475

0.13

Loss on divestiture

—

1,512

1,142

0.01

Adjusted results

$   1,966,845

$        157,887

$       104,742

$          1.34

Adjusted operating margin

8.0 %

(2) Attributable to Kennametal.

Free Operating Cash Flow (FOCF)

FOCF is a non-GAAP financial measure and is defined by the Company as cash provided by operations (which is the most directly comparable GAAP financial measure) less capital expenditures plus proceeds from disposals of fixed assets. Management considers FOCF to be an important indicator of the Company's cash generating capability because it better represents cash generated from operations that can be used for dividends, debt repayment, strategic initiatives (such as acquisitions) and other investing and financing activities.

FREE OPERATING CASH FLOW (UNAUDITED)

Twelve Months Ended

June 30,

(in thousands)

2026

2025

Net cash flow from operating activities

$    (4,008)

$   208,324

Purchases of property, plant and equipment

(76,905)

(88,971)

Proceeds from disposals of property, plant and equipment

1,775

1,841

Free operating cash flow

$   (79,138)

$   121,194

Organic Sales Growth

Organic sales growth is a non-GAAP financial measure of sales growth (which is the most directly comparable GAAP measure) excluding the impacts of acquisitions, divestitures, business days and foreign currency exchange from year-over-year comparisons. Management believes this measure provides investors with a supplemental understanding of underlying sales trends by providing sales growth on a consistent basis. Management reports organic sales growth at the consolidated and segment levels.

ORGANIC SALES GROWTH (UNAUDITED)

THREE MONTHS ENDED JUNE 30, 2026

Metal Cutting

Infrastructure

Total

Organic sales growth

22 %

74 %

42 %

Foreign currency exchange effect(3)

1

1

1

Business days effect(4)

1

1

1

Divestiture effect(5)

—

(3)

(1)

Sales growth

24 %

73 %

43 %

TWELVE MONTHS ENDED JUNE 30, 2026

Total

Organic sales growth

19 %

Foreign currency exchange effect(3)

2

Business days effect(4)

—

Divestiture effect(5)

(1)

Sales growth

20 %

(3) Foreign currency exchange effect is calculated by dividing the difference between current period sales and current period sales at prior period foreign exchange rates by prior period sales.

(4) Business days effect is calculated by dividing the year-over-year change in weighted average working days (based on mix of sales by country) by prior period weighted average working days.

(5) Divestiture effect is calculated by dividing prior period sales attributable to divested businesses by prior period sales.

SOURCE Kennametal Inc.

Joseph Alvarado Appointed Incoming Chairman; William Lambert to Retire in October

, /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced that its Board of Directors has appointed Joseph Alvarado as incoming Chairman of the Board, effective October 28, 2026. Alvarado will succeed William M. Lambert, current Chairman of the Board, who will retire from the Board at the conclusion of the Company's Annual Meeting of Shareowners on October 27, 2026.

"Serving on Kennametal's Board has been a privilege and one of the most rewarding experiences of my career," said Lambert. "After careful consideration, I have decided that the time is right for this transition. I have great confidence in the Company's strategy, leadership team and Board colleagues, and I look forward to watching Kennametal continue to build on its strong foundation and create value for all stakeholders."

"Bill has been an outstanding Chairman and trusted advisor," said Sanjay Chowbey, President and CEO. "His leadership, strategic guidance and commitment to strong governance have helped position us for long-term success. On behalf of the Board, leadership team and employees around the world, I want to thank Bill for his dedicated service."

Lambert joined the Kennametal Board in 2016 and has served as Chairman since 2023. During his tenure as Chairman, Lambert helped guide Kennametal through a period of significant transformation, including leadership succession, portfolio actions and continued focus on long-term shareholder value.

Alvarado has served as an independent director of the Kennametal Board since 2018 and has been chair of the Nominating/Corporate Governance Committee since 2023. He is also a member of the Board of Directors of Arcosa, Inc.; PNC Financial Services Group, Inc.; and Trinseo, S.A.

"Joe is the right leader to serve as our next Chairman," said Chowbey. "He brings deep industrial experience, strong public company leadership and a practical understanding of manufacturing, operations and capital allocation. Having served on our Board for several years, he also understands Kennametal, our strategy and the opportunities ahead. I look forward to continuing to work with him as we execute our plans and build long-term value for shareholders."

Alvarado is the retired Chairman, President and CEO of Commercial Metals Company ("CMC"), a global manufacturer, recycler and marketer of steel and other metals. He joined CMC in April 2010 as Executive Vice President and Chief Operating Officer and other roles of increasing responsibility. Before joining CMC, Alvarado was the President of U.S. Steel Tubular Products, Inc., a division of United States Steel Corporation.

Alvarado holds an MBA from the Johnson School, Cornell University and a Bachelor of Arts degree in Economics from the University of Notre Dame.

About Kennametal

With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated nearly $2 billion in revenues in fiscal 2025. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube. 

SOURCE Kennametal Inc.

Fifth Third Bancorp boosted its holdings in shares of Kennametal Inc. (NYSE:KMT – Free Report) by 6,888.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,857 shares of the industrial products company’s stock after acquiring an additional 25,487 shares during the quarter. Fifth Third Bancorp’s holdings in Kennametal were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KMT. Dimensional Fund Advisors LP grew its position in Kennametal by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,750,538 shares of the industrial products company’s stock worth $134,964,000 after acquiring an additional 96,888 shares in the last quarter. State Street Corp raised its holdings in shares of Kennametal by 0.3% during the 4th quarter. State Street Corp now owns 2,899,770 shares of the industrial products company’s stock valued at $82,382,000 after purchasing an additional 9,963 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Kennametal by 5.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,991,140 shares of the industrial products company’s stock valued at $56,568,000 after purchasing an additional 104,092 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Kennametal by 20.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,546,374 shares of the industrial products company’s stock valued at $32,366,000 after purchasing an additional 265,664 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Kennametal by 3.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,343,451 shares of the industrial products company’s stock valued at $38,167,000 after purchasing an additional 47,839 shares during the last quarter.

Insider Activity at Kennametal In other Kennametal news, VP Judith L. Bacchus sold 5,488 shares of Kennametal stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $35.94, for a total value of $197,238.72. Following the transaction, the vice president directly owned 4,554 shares of the company’s stock, valued at $163,670.76. The trade was a 54.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Carlonda R. Reilly sold 12,013 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $33.12, for a total value of $397,870.56. Following the transaction, the vice president owned 25,143 shares of the company’s stock, valued at approximately $832,736.16. This trade represents a 32.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 47,000 shares of company stock worth $1,583,326 in the last 90 days. 1.43% of the stock is owned by company insiders.

Analyst Ratings Changes KMT has been the topic of several analyst reports. Zacks Research downgraded shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Morgan Stanley reduced their price target on Kennametal from $36.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, July 17th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and set a $47.50 price target for the company. in a research note on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective on Kennametal from $40.00 to $34.00 and set an “underweight” rating on the stock in a report on Monday, July 13th. Finally, Barclays lowered Kennametal from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $40.00 to $33.00 in a report on Wednesday, May 27th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $35.79.

Get Our Latest Research Report on Kennametal

Kennametal Stock Performance NYSE:KMT opened at $35.23 on Monday. The firm has a market capitalization of $2.68 billion, a PE ratio of 19.90, a PEG ratio of 0.61 and a beta of 1.36. The company has a current ratio of 2.38, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Kennametal Inc. has a 1 year low of $17.62 and a 1 year high of $43.81. The firm’s fifty day simple moving average is $34.52 and its 200 day simple moving average is $36.22.

Kennametal (NYSE:KMT – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $592.59 million during the quarter, compared to analysts’ expectations of $568.03 million. Kennametal had a net margin of 6.41% and a return on equity of 11.02%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. On average, sell-side analysts anticipate that Kennametal Inc. will post 3.23 EPS for the current year.

Kennametal Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.80 annualized dividend and a yield of 2.3%. Kennametal’s dividend payout ratio is presently 45.20%.

Kennametal Profile (Free Report)

Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.

The company’s product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.

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Immersive booth brings live machining, industry experts, metal cutting innovations and a custom motorcycle build together under one roof

, /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced it will bring the modern manufacturing ecosystem to life at IMTS 2026 with the Next Level Shop, an immersive experience featuring appearances of WIDIA brand ambassador Carey Hart, a live custom motorcycle build and the latest machining and digital manufacturing technologies designed to help manufacturers improve productivity.

Building on the success of its Metal Mania experience two years ago, the Next Level Shop recreates the energy and collaboration of today's modern machine shop, bringing together tooling, software, machine tool builders and manufacturing experts to solve real-world production challenges. Throughout the week, visitors can explore the latest machining technologies, engage directly with engineers and partners, and experience how connected manufacturing solutions drive better performance on the shop floor.

"Everything we're doing at IMTS this year was designed around our customers," said Dave Bersaglini, Kennametal Vice President & President Metal Cutting. "Manufacturers are looking for more than great tooling - they're looking for integrated solutions that help them machine smarter, solve complex challenges and drive productivity. The Next Level Shop brings those technologies, partnerships and conversations together in one place."

A centerpiece of the experience will be the live customization of an Indian Sport Chief motorcycle. In his first public appearance as a WIDIA brand ambassador, motorsports legend and Hart Luck Parts & Gear founder Carey Hart will join Satya Kraus, CEO and creative engineer of KRAUS MOTO, to machine custom motorcycle components throughout the week on a 5-axis CNC machine using Kennametal and WIDIA tooling. Leading motorcycle and automotive painter Taylor Schultz of Schultz Designz will complete the build with a custom paint scheme. The completed custom motorcycle will be the centerpiece of an exclusive Kennametal giveaway, with one IMTS attendee taking home the finished, one-of-one build.

Beyond the motorcycle build, visitors to the Next Level Shop will feature continuous live machining demonstrations led by Kennametal experts and customers and industry partners, highlighting solutions that help manufacturers improve productivity, performance and precision across diverse applications and industries.

Visitors will also discover Kennametal's newest tooling innovations across milling, holemaking, turning and Swiss machining, advanced additive manufacturing capabilities, large-scale machined components and an expanding digital manufacturing ecosystem featuring CAM integration, tooling data and software partnerships that streamline programming, improve productivity and optimize machining performance.

Designed in partnership with EWI Worldwide, the Next Level Shop expands on the interactive spirit of Metal Mania while introducing new collaborations, demonstrations and hands-on experiences throughout the week.

"Kennametal challenged us to create something that felt less like a trade show booth and more like stepping into the shop floor of the future," said Don Kuhn, Account Executive at EWI Worldwide. "Every detail of the Next Level Shop was designed to encourage exploration, spark conversations and demonstrate how innovation comes to life when technology, craftsmanship and collaboration come together."

Visitors to the Next Level Shop can:

Watch live machining demonstrations throughout the week. Meet Carey Hart, Satya Kraus, Taylor Schultz and Kennametal's team of machining experts. Explore the latest Kennametal and WIDIA tooling innovations. Experience digital manufacturing technologies and software integrations. Connect with specialists serving aerospace and defense, medical, transportation, power generation, Swiss machining and more. Enter for a chance to win the custom-built Indian Sport Chief motorcycle. Kennametal's Next Level Shop will be located at Booth No. 431800 in the West Building, Level 3, during IMTS 2026, September 14–19, at McCormick Place in Chicago.

For a complete schedule of live machining demonstrations, partner appearances and booth activities, visit kennametal.com/imts2026

About Kennametal
With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2 billion in revenues in fiscal 2025. Learn more at kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

SOURCE Kennametal Inc.

Investors with an interest in Manufacturing - Tools & Related Products stocks have likely encountered both Kennametal (KMT - Free Report) and Techtronic Industries Co. (TTNDY - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Currently, Kennametal has a Zacks Rank of #1 (Strong Buy), while Techtronic Industries Co. has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that KMT has an improving earnings outlook. But this is only part of the picture for value investors.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

KMT currently has a forward P/E ratio of 11.47, while TTNDY has a forward P/E of 21.03. We also note that KMT has a PEG ratio of 0.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TTNDY currently has a PEG ratio of 1.14.

Another notable valuation metric for KMT is its P/B ratio of 1.86. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, TTNDY has a P/B of 4.31.

These are just a few of the metrics contributing to KMT's Value grade of B and TTNDY's Value grade of C.

KMT has seen stronger estimate revision activity and sports more attractive valuation metrics than TTNDY, so it seems like value investors will conclude that KMT is the superior option right now.

, /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today the appointment of Amanda Cole as Vice President and Chief Human Resources Officer, effective July 21, 2026.

Cole brings more than 20 years of experience in leading enterprise-wide transformation, cultural evolution and talent strategy, most recently serving as Vice President of Human Resources, Electrical & Electronic Solutions Business and IT & Digital Functions at Wesco International, Inc. She will succeed Judith Bacchus, who will retire on or about October 1, 2026, after more than 20 years at the company.

"Amanda is an accomplished Human Resources leader in the industrial space who brings a technically grounded, cross-functional perspective and a strong focus on continuous improvement," said Sanjay Chowbey, President and CEO. "I am confident that she will be a key partner to the Board of Directors and Executive Leadership Team while helping us further shape our culture, build capability and drive performance."

Chowbey continued, "I also want to thank Judy for her nearly two decades of leadership at Kennametal. Since joining the company in 2006, she has played a central role in strengthening our organization by building our global talent strategy, advancing our culture and leading critical functions including human resources, communications and environmental, health, safety and quality. We wish her all the best in retirement and appreciate her partnership in ensuring a seamless transition with Amanda over the coming months."

About Amanda Cole
As Vice President and Chief Human Resources Officer, Cole will be accountable for all human resources globally. In addition, she will oversee the company's internal and external corporate communications function and environmental, health, safety and quality (EHSQ) activities.

Most recently, Cole was Vice President of Human Resources Electrical & Electronic Solutions Business and IT & Digital Functions at Wesco International, Inc. where she led the HR strategy for a multibillion-dollar global business unit and enterprise IT/Digital functions, supporting 6,500 employees globally.

Prior to that, she served in various human resources leadership roles at Wesco International, Inc. and has experience in Lean and process improvement, as well as leading training and development. She started her career at Newell Rubbermaid as a Project Manager and Manufacturing Engineer.

Cole has a Bachelor of Science degree in industrial engineering from Penn State University and Master of Business Administration from University of Baltimore.

About Kennametal
With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2 billion in revenues in fiscal 2025. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.

SOURCE Kennametal Inc.

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Stock to Watch: Kennametal (KMT - Free Report) Based in Latrobe, PA, Kennametal Inc. is a manufacturer, marketer and distributor of high-speed metal cutting tools, tooling systems and wear-resistant parts. Its products are marketed through a number of channels to the end users, comprising manufacturers of machine tools, transportation vehicles and various components, airframe, aerospace components, machinery (light and heavy), components (energy-related), and others. Also, the company’s products are used by manufacturers and suppliers in the oil and gas exploration, road construction, and other industries.

KMT is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Industrial Products stock. KMT has a Momentum Style Score of A, and shares are up 3.1% over the past four weeks.

For fiscal 2026, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.80 to $3.23 per share. KMT boasts an average earnings surprise of +18.6%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, KMT should be on investors' short list.

Kennametal (KMT) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.47 per share a year ago.

Pre-Market Stock Futures: Futures are trading modestly higher after a blowout midweek rally spurred by reports that a peace agreement with Iran could be forthcoming soon and by incredible technology earnings and forecasts that destroyed Wall Street estimates. All of the major indices were once again printing new highs as investors cheered the potential for... Here Are Thursday's Top Wall Street Analyst Research Calls: Alcoa, Chiron Real Estate, Clear Secure, Fortinet, Fresh Pet, Kennametal, Oracle, PayPal, United Therapeutics, and More

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Kennametal NYSE: KMT raised its fiscal 2026 sales and adjusted earnings outlook after reporting stronger-than-expected third-quarter results, as higher tungsten-related pricing, modest volume improvement and share gains across key markets lifted revenue and margins.

Kennametal to Attend KeyBanc Capital Markets 2026 Industrials and Basic Materials Conference PR Newswire PITTSBURG

PITTSBURGH, May 26, 2026 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) (the "Company") today announced the pricing terms of its previously announced cash tender offer (the "Tender Offer") to purchase any and all of its outstanding 4.625% Senior Notes due 2028 (the "2028 Notes"). All other terms and conditions of the Tender Offer remain unchanged and are described in the Offer to Purchase, dated May 19, 2026 (the "Offer to Purchase").

PITTSBURGH, May 27, 2026 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) (the "Company") today announced the final results and expiration of its previously announced cash tender offer (the "Tender Offer") to purchase any and all of the outstanding notes listed in the table below (the "Notes"). Capitalized terms used in this news release and not defined herein have the meanings given to them in the Offer to Purchase, dated May 19, 2026 (the "Offer to Purchase").

Actions extend debt maturities, preserve financial flexibility and support growth opportunities Raised additional $700 million liquidity through new 3-year term loan and expansion of existing revolving credit facility Additional liquidity supports near-term tungsten related working capital needs while preserving long-term flexibility Refinanced $300 million in bonds, extending maturities to 2036, as previously reported Transactions consistent with maintained investment grade credit rating profile PITTSBURGH, May 29, 2026 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) (the "Company") today announced a series of financing transactions designed to enhance liquidity, extend debt maturities and position the Company to capture near-term growth opportunities. The actions provide additional financial flexibility to support near-term tungsten related working capital needs while preserving flexibility to respond to future market developments.

Kennametal (KMT) reported earnings 30 days ago. What's next for the stock?

The prospects of the Zacks Manufacturing-Tools & Related Products industry are hindered by high operating costs and ongoing supply-chain challenges. SWK, CNM, KMT and EPAC are some promising stocks in the industry.