Kennametal reports results, outlook upbeat for coming financial year

News
August 5, 2013

August 5, 2013

Kennametal, one of the world’s leading cemented carbide and hard material producers reported that final quarter sales (April to June 2013) were down 9% to $671 million compared with the same quarter last year. This reflected an 8% organic decline and a 1% unfavorable effect from currency exchange. Operating income was $91 million, compared with $117 million in the same quarter last year.

“In the June quarter, and for every quarter during fiscal 2013, Kennametal delivered double-digit profitability despite market challenges. We demonstrated greater agility in this cycle and elevated our financial performance,” said Kennametal Chairman, President and Chief Executive Officer Carlos Cardoso.

For the full financial year ending June 2013 Kennametal reported sales of $2.6 billion, compared with $2.7 billion last year. Operating income for the financial year was $296 million, compared with $416 million in fiscal 2012.

For the fiscal year 2014, Kennametal’s outlook reflects expectations of continued macro-economic improvement, with worldwide industrial production building momentum. The company expects organic sales growth to range from 5 to 7%, and total sales to grow between 4 and 6% in fiscal 2014. This growth rate is expected to outpace global industrial production by more than double through company-specific initiatives.

www.kennametal.com 

 

News | Articles | Market reviews | Search directory | Subscribe to e-newsletter

News
August 5, 2013

In the latest issue of PM Review…

Download PDF

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

  • From powder modification to rejuvenation: Fluidised Bed Reactors in metal powder production and Additive Manufacturing
  • Retech: Enabling the atomisation of reactive and refractory alloys at substantially higher levels of productivity and lower cost
  • Sustainability in Powder Metallurgy: Highlights from the 41st Hagen Symposium
  • Innovations from Japan’s Powder Metallurgy industry: award winners highlight novel automotive and healthcare applications

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

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
View online
Share via
Copy link