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Kennametal: Fiscal 3Q Earnings Snapshot

PITTSBURGH (AP) _ Kennametal Inc. (KMT) on Monday reported fiscal third-quarter net income of $68.6 million.

On a per-share basis, the Pittsburgh-based company said it had profit of 82 cents. Earnings, adjusted for pretax gains, were 77 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The engineered products maker posted revenue of $597.2 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $622.4 million.

Kennametal expects full-year earnings in the range of $3 to $3.10 per share.

Kennametal shares have climbed 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $40.26, an increase of roughly 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