U.S. Markets close in 19 mins
  • S&P 500

    3,630.53
    -4.88 (-0.13%)
     
  • Dow 30

    29,872.08
    -174.16 (-0.58%)
     
  • Nasdaq

    12,099.52
    +62.73 (+0.52%)
     
  • Russell 2000

    1,847.73
    -5.80 (-0.31%)
     
  • Crude Oil

    45.65
    +0.74 (+1.65%)
     
  • Gold

    1,805.20
    +0.60 (+0.03%)
     
  • Silver

    23.38
    +0.08 (+0.34%)
     
  • EUR/USD

    1.1925
    +0.0028 (+0.2385%)
     
  • 10-Yr Bond

    0.8780
    -0.0040 (-0.45%)
     
  • Vix

    21.27
    -0.37 (-1.71%)
     
  • GBP/USD

    1.3385
    +0.0026 (+0.1981%)
     
  • USD/JPY

    104.4200
    -0.0600 (-0.0574%)
     
  • BTC-USD

    18,819.83
    -221.01 (-1.16%)
     
  • CMC Crypto 200

    371.64
    +1.13 (+0.30%)
     
  • FTSE 100

    6,391.09
    -41.08 (-0.64%)
     
  • Nikkei 225

    26,296.86
    +131.27 (+0.50%)
     

Kennametal: Fiscal 1Q Earnings Snapshot

·1 min read

PITTSBURGH (AP) _ Kennametal Inc. (KMT) on Monday reported a fiscal first-quarter loss of $21.7 million, after reporting a profit in the same period a year earlier.

The Pittsburgh-based company said it had a loss of 26 cents per share. Earnings, adjusted for restructuring costs, came to 3 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The engineered products maker posted revenue of $400.3 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $384.9 million.

Kennametal shares have declined 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $32.68, a rise of almost 6% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMT at https://www.zacks.com/ap/KMT