Compared to Estimates, Kennametal (KMT) Q2 Earnings: A Look at Key Metrics
For the quarter ended December 2023, Kennametal (KMT) reported revenue of $495.32 million, down 0.4% over the same period last year. EPS came in at $0.30, compared to $0.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $495.23 million, representing a surprise of +0.02%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $0.25.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $183.88 million versus the three-analyst average estimate of $191.03 million. The reported number represents a year-over-year change of -7%.
Total Sales- Metal Cutting: $311.45 million versus $302.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4% change.
Operating Income (loss)- Metal Cutting: $25.53 million compared to the $26.79 million average estimate based on three analysts.
Operating Income (loss)- Corporate: -$0.28 million versus the three-analyst average estimate of $0.12 million.
Operating Income (loss)- Infrastructure: $3.24 million compared to the $8.34 million average estimate based on three analysts.
View all Key Company Metrics for Kennametal here>>>
Shares of Kennametal have returned +2.7% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Kennametal Inc. (KMT) : Free Stock Analysis Report
