PITTSBURGH, Jan. 15, 2025 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that Faisal Hamadi, currently Vice President of Kennametal's Value Creation Systems, will succeed Franklin Cardenas as President of the Company's Infrastructure segment, effective January 20, 2025."I want to thank Franklin for his years of service and many contributions to Kennametal," said Sanjay Chowbey, President and CEO. "We wish him success in his future endeavors and appreciate his ongoing partnership with Faisal to ...

Core Viewpoint - Kennametal Inc. is experiencing growth in its Infrastructure segment, particularly in aerospace & defense and energy markets, despite challenges in other areas [1][7]. Group 1: Financial Performance - The Infrastructure segment's revenues increased by 0.4% year over year in Q1 of fiscal 2025 [1]. - The company expects revenues for fiscal 2025 to be between $2.0 billion and $2.1 billion, indicating a year-over-year decrease of 1.4% at the midpoint [7]. - In the first three months of fiscal 2025, Kennametal paid out $15.6 million in dividends and repurchased shares worth $15 million [4]. Group 2: Market Trends and Opportunities - Positive trends in key end markets include rising U.S. and international defense spending and digitalization [2]. - The company is benefiting from a diversified portfolio and investments in product development, with notable new products introduced [3]. Group 3: Operational Challenges - The Metal Cutting segment is facing revenue declines due to softness in the transportation end market and lower economic activity in general engineering [7]. - Operating expenses have been high, leading to a 130 basis point decrease in operating margin in Q1 of fiscal 2025 due to increased wages and inflation [8].

Core Viewpoint - Kennametal Inc. is positioned for growth due to strong performance in its Infrastructure segment and shareholder-friendly policies [1][4][6] Company Overview - Kennametal, based in Latrobe, PA, manufactures and distributes high-speed metal cutting tools, tooling systems, and wear-resistant parts, serving various end markets including aerospace, transportation, and energy [2] Business Strength - The Infrastructure segment is performing well, driven by increased demand in aerospace & defense and energy markets, despite softness in other areas [4] - Positive trends in key markets include rising U.S. and international defense spending and digitalization [4] Product Development - The company benefits from a diversified portfolio and ongoing investments in product development, with notable new products introduced [5] - A new metal cutting inserts manufacturing facility was established in Bengaluru, India, to meet growing demand [5] Shareholder Policies - Kennametal is committed to rewarding shareholders through dividends and share buybacks, distributing $15.6 million in dividends and repurchasing $15 million in shares in Q1 of fiscal 2025 [6] - In fiscal 2024, the company distributed $63.4 million in dividends and repurchased $65.4 million in shares [6] Segmental Weakness - The Metal Cutting segment is experiencing revenue declines due to decreased demand in the transportation market and lower project activity in general engineering [7] - Revenue expectations for fiscal 2025 are projected to be between $2.0 billion and $2.1 billion, indicating a year-over-year decrease of 1.4% at the midpoint [7] Cost Challenges - Kennametal faces high operating expenses, with operating expenses as a percentage of total revenues rising to 23.2% [8] - The operating margin decreased by 130 basis points in Q1 of fiscal 2025 due to higher wages and inflationary pressures [9]

Kennametal Inc. (KMT) is benefiting from the strong performance of the Infrastructure segment, driven by strength in the aerospace & defense and energy end markets arising from favorable order timing. The segment’s revenues increased 0.4% year over year in the first quarter of fiscal 2025 (ended September 2024). Despite the ongoing softness across the majority of end markets, the company is witnessing several positive trends in its key end markets that hold promise for its long-term growth. This includes an ...

Core Insights - The FDA has approved Revuforj® (revumenib) as the first menin inhibitor for treating relapsed or refractory acute leukemia with a KMT2A translocation in patients aged one year and older [1][2][3] - The approval is based on positive data from the AUGMENT-101 clinical trial, demonstrating a 21% complete remission rate among treated patients [2][3] - Syndax Pharmaceuticals is preparing to launch Revuforj and is committed to advancing its development for KMT2A-rearranged acute leukemias and mutant NPM1 AML [2][8] Efficacy and Safety - In the AUGMENT-101 trial, 104 patients were evaluated, with a complete remission (CR) plus CR with partial hematological recovery (CRh) rate of 21% [2] - The median duration of CR+CRh was 6.4 months, and the median time to CR or CRh was 1.9 months [2] - The safety evaluation involved 135 patients, with common adverse reactions including hemorrhage (53%), nausea (51%), and infection (41%) [3][18] Market Availability - Revuforj tablets (110 mg and 160 mg) are expected to be available for order in the U.S. in November 2024, with 25 mg tablets anticipated in early 2025 [4] - An oral solution of revumenib will be available through an expanded access program for patients weighing less than 40 kg prior to the commercial availability of the 25 mg tablets [4] Company Commitment - Syndax has established SyndAccess™, a program providing personalized support and financial assistance to U.S. patients prescribed Revuforj [5] - The company is focused on removing barriers to access for patients and enhancing support resources [5] Future Developments - Revumenib is also in development for treating R/R acute myeloid leukemia (AML) with a nucleophosmin 1 mutation (mNPM1), with ongoing trials in combination with standard-of-care agents [8][9] - The company is conducting multiple clinical trials across the treatment landscape for KMT2A-rearranged acute leukemia and mNPM1 AML [8][22]

PITTSBURGH, Nov. 13, 2024 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) is proud to announce that it has been recognized as one of Caterpillar Inc's top indirect suppliers in 2024. This prestigious recognition reflects Kennametal's continued dedication to delivering innovative solutions, productivity improvements and outstanding customer and applications engineering support. Key drivers of this recognition include Kennametal's exceptional support in the successful launch of the Cat C27B and C32 cylinder head ...

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PITTSBURGH, Nov. 12, 2024 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that they will attend the UBS Global Industrials and Transportation Conference in Manalapan, Florida.Details of the conference are as follows:             When:      Tuesday, December 3, 2024             Attendees: Patrick Watson, Vice President and Chief Financial Officer Michael Pici, Vice President, Investor Relations About KennametalWith over 85 years as an industrial technology leader, Kennametal In ...

Kennametal Inc. (KMT) reported first-quarter fiscal 2025 (ended Sept. 30, 2024) adjusted earnings of 29 cents per share, which beat the Zacks Consensus Estimate of 25 cents. The bottom line decreased 29.3% from the year-ago figure.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.KMT’s Revenue DetailsKennametal’s revenues were $481.9 million, which decreased 2% from the year-ago quarter’s figure. Organic sales declined 2% year over year. Business days had a positive impact of 1%. Curr ...

Financial Data and Key Metrics Changes - Sales decreased by 2% year-over-year, with adjusted EBITDA margin at 14.3%, down from 16.6% in the prior year [11][13][28] - Adjusted EPS decreased to $0.29 from $0.41 in the prior year quarter [13][29] - Cash from operating activities increased to $46 million from $26 million in the prior year [43] - Free operating cash flow improved to $21 million from negative $3 million in the prior year [14][43] Business Line Data and Key Metrics Changes - Infrastructure sales increased by 1% organically, while metal cutting sales decreased by 4% [11][32] - Aerospace and Defense grew by 13%, while Energy grew by 2%; other markets like Transportation, General Engineering, and Earthworks experienced declines of 2%, 3%, and 6% respectively [11][40] Market Data and Key Metrics Changes - Asia Pacific sales increased by 2% on a constant currency basis, while EMEA declined by 1% and the Americas declined by 2% [11] - In the U.S., metal cutting growth was 3%, slightly below the overall market [18] Company Strategy and Development Direction - The company is focused on driving above-market growth through innovative product launches and operational initiatives [10][20] - Continued emphasis on primary working capital management and strong cash flow generation [10][15] - The company aims to optimize inventory levels and reduce primary working capital as a percentage of sales [44][70] Management's Comments on Operating Environment and Future Outlook - Management noted that fiscal '25 has started unevenly, with worsening market conditions in EMEA and soft industrial production in the U.S. [8][9] - The outlook for Q2 sales is projected between $480 million and $500 million, with expectations of a slight recovery in the second half of the year [47][50] - Management remains optimistic about long-term growth driven by global megatrends despite short-term challenges [54] Other Important Information - The company continues its share repurchase program, buying back $15 million worth of shares during the quarter [14][45] - Adjusted effective tax rate increased to 25.1% year-over-year, influenced by geographical mix and discrete items [29] Q&A Session Summary Question: Margin assumptions for Q2 - Management expects margins to be flattish from Q1 to Q2, with some benefits from the resolution of a tax dispute and the end of certain expenses [56][57] Question: Recovery in organic growth - Management anticipates slight recovery in industrial production and oil rig counts, with confidence in aerospace and defense growth [58][59] Question: Trends in Asia Pacific - Despite pressure in construction and mining, overall APAC markets are expected to remain stable and slightly improve [63] Question: Operating margins in the second half - Seasonal uptick in volumes is expected to drive margin performance in the second half, with Q4 typically being the higher margin quarter [65] Question: Inventory relative to demand - The company aims to reduce inventory levels, with production slightly below demand to optimize working capital [70] Question: Near-term trends - Industrial production and oil and gas are expected to remain stable, with continued pressure in transportation and mining construction [76] Question: Price cost dynamics - Tungsten prices have remained stable, and the company is confident in achieving 2% price realization [77][78] Question: Impact of Fed rate cuts - Lower rates are expected to be constructive, but historical lag periods suggest several quarters before significant demand changes [81][82] Question: Restructuring savings - Restructuring savings in the quarter were $5 million, with an annualized run rate of $35 million [85] Question: Metal cutting margins - Metal cutting margins were impacted by significant volume reductions and temporary costs from trade shows [86] Question: Market share gains in Europe - The company expects to maintain market share gains despite near-term pressures, supported by ongoing project wins [90][92] Question: Implications of recent political events - Management is monitoring industrial production and consumer confidence as potential impacts of new policies and tariffs [94][96]