Kennametal announces fiscal first quarter 2015 results

November 3, 2014

Kennametal Inc. (NYSE: KMT), headquartered in Latrobe, Pennsylvania, USA, has reported results for its fiscal first-quarter 2015, stating sales for the period totalled $695 million, compared with $620 million in the same quarter last year.

Operating income was $61 million, compared with $59 million in the same quarter last year. Operating income also included $7 million of restructuring and related charges, primarily due to equipment relocation and facility expenses. Adjusted operating margin was 9.9%, compared with an adjusted operating margin of 9.7% in the prior year.

“September quarter sales growth was driven by ongoing demand strength in our Industrial segment; however, our Infrastructure business was challenged by continued weak conditions in underground mining and road construction, partially offset by modest improvement in the oil and gas sector. We are pleased to have made significant progress in integrating the Tungsten Materials Business, and we are accelerating measures to reduce costs and improve efficiencies that should position Kennametal for improved profitability,” stated Carlos Cardoso, Kennametal Chairman and Chief Executive Officer.

Kennametal is updating its outlook due to weaker economic conditions anticipated for the remainder of fiscal 2015. Key factors include softer customer demand in the Eurozone, lower drilling activity in the oil and gas sector, as well as a continued decline in underground mining production levels.

The company now expects fiscal 2015 total sales growth in the range of 2 to 4%, with organic sales growth of 1 to 3%. Previously, the company had forecast total sales growth in the range of 5 to 7%, with organic sales growth of 3 to 5%.

www.kennametal.com   


Powder Metallurgy Review magazine:

Your email address:


Useful links: Download PM Review magazine | News headlines | Browse articles 


Recent issue of Powder Metallurgy review - your go-to resource to stay updated on the world of powder metallurgy and metal powders

In the latest issue of PM Review…

PM Review Spring 2023

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • GKN Powder Metallurgy: A strategic vision for the future of permanent magnets for EVs
  • Building trust in the Powder Metallurgy industry: The role of standardisation and an update on recent work by ISO/TC 119
  • High-volume powder production for Additive Manufacturing: SMS group’s continuous metal powder production process
  • Development of enhanced-performance PM brake pads for high-speed trains by Beijing Tianyishangjia New Material Corp., Ltd.
  • The START project: Creating a sustainable supply chain for green energy harvesting products by Powder Metallurgy
  • World PM2022: Reviewing three innovative methods for metal powder production

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

From the industry…

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

 

Browse the archive

 

Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
Download PDF
Share via
Copy link