Kennametal Analysts Boost Their Forecasts After Better-Than-Expected Q1 Results

Core Viewpoint - Kennametal Inc. reported better-than-expected first-quarter financial results and raised its FY26 guidance above estimates, indicating strong performance and positive market outlook [1]. Financial Performance - Adjusted earnings for the first quarter were 34 cents per share, surpassing market estimates of 23 cents per share [1]. - Sales reached $497.974 million, exceeding expectations of $476.934 million [1]. Management Commentary - Sanjay Chowbey, President and CEO, noted that the first quarter started strong with share gains and modest improvements in end markets, leading to sales and adjusted EPS that exceeded the upper end of their outlook [2]. Stock Market Reaction - Following the earnings announcement, Kennametal shares rose by 1.3%, trading at $26.40 [2]. Analyst Ratings and Price Targets - Barclays analyst Julian Mitchell maintained an Equal-Weight rating on Kennametal and raised the price target from $22 to $25 [4]. - JP Morgan analyst Tami Zakaria maintained an Underweight rating while also increasing the price target from $22 to $25 [4].