Kennametal sales down 2% in fiscal first quarter 2014

October 28, 2013

Kennametal Inc. based in Latrobe, Pennsylvania, USA, has issued its results for the fiscal first-quarter 2014 (July 1 to September 30, 2013) which show sales down by 2% to $620 million compared with the same quarter in 2012. Operating income was reported at $59 million compared with $64 million in 2012.

During the quarter, the company acquired the operating assets of Comercializadora Emura S.R.L. and certain related entities (Emura), based in La Paz, Bolivia, and secured related material sourcing agreements. Emura is the region’s principal operation engaged in collection, testing, processing and exporting tungsten ore material, and is a long-standing supplier to Kennametal.

Kennametal also announced during the quarter that it has signed a definitive agreement to acquire ATI’s Tungsten Materials Business for $605 million. The acquisition is aligned with the company’s growth strategy and positions the company to further diversify its portfolio, stated the report.

“Due to our company-specific initiatives, Kennametal again delivered solid profitability this quarter even with persistent macroeconomic uncertainties,” stated Kennametal Chairman, President and Chief Executive Officer Carlos Cardoso. “More importantly, as the economic climate shows signs of improvement, we will accelerate our growth strategies to maximize revenues and earnings, as well as maintain our on-going cost discipline.”

“Also, our recently announced agreement to acquire ATI’s Tungsten Materials Business will provide excellent growth opportunities. This represents a winning business combination that enhances our talent base, provides complementary strategic assets and further balances our portfolio.”

Kennametal has revised upwards its fiscal 2014 sales growth forecast to the range of 5 to 7% (from the previous 4 to 6%), with organic sales growth ranging from 4 to 6%.

www.kennametal.com  

Powder Metallurgy Review magazine cover

In the latest issue of PM Review…

Download PDF

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

  • Hot Isostatic Pressing for the production of large, near-net shape components
  • Safeguarding PM part usage in a new automotive industry
  • How to make metal powders., Part 3
  • Company profile: Jiangxi Yuean Advanced Materials

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

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