Kennametal Still 50% Overvalued Based On Risks
Tue, Aug. 2, 9:00 AM
- Adjusted operating income of $47M, compared with $53M a year ago. Adjusted EPS of $0.44 per share vs. $0.44 per share in the prior year quarter.
- Revenue by segment: Industrial -8; Infrastructure -31%.
- "As we look to fiscal year 2017... even without a modest upturn in our end markets, we believe our improving cost position in combination with a more robust and proactive commercial strategy will produce improved margins," CEO Ron De Feo declared.
- The company also announced a workforce reduction initiative with expected costs of $80-$95M. It should reduce employment by 1,000, resulting in an annual run rate savings of $100-$110M by fiscal year-end 2017.
- FQ4 results
Mon, Aug. 1, 4:54 PM
Sun, Jul. 31, 5:35 PM
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Wed, May 4, 10:01 AM
Tue, May 3, 11:30 AM
Mon, May 2, 5:30 PM
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Mon, May 2, 5:01 PM
Mon, Apr. 18, 7:27 AM
- Kennametal (NYSE:KMT) announces the signing of a $600M five-year credit agreement.
- The syndicated bank facility amends and restates the company's prior loan agreement and contains enhanced covenant adjustments relative to its amended 2010 agreement.
- Now read Kennametal Might Be A Good Short Opportunity
Wed, Apr. 13, 2:24 PM
- Investors should take profits on machinery stocks ahead of earnings, J.P. Morgan analysts say, as valuations are stretched after the sector outperformed the S&P in Q1 +17% vs. +1.3%, and investors likely will have little tolerance for weaker than expected performance.
- The firm suggests avoiding Deere (DE +1.9%), Agco (AGCO +3.5%) and CNH Industrial (CNHI +3%) on weaker fundamentals with downside risk to the market outlooks for each region, and Paccar (PCAR +2.9%) on weaker NAFTA HD truck demand vs. its guide for a 12% decline in U.S. and Canada retail sales.
- However, JPM likes Allison Transmission (ALSN +2.4%) heading into Q1 as it has underperformed peers while its exposure to HD Class 8 long haul is limited and MD orders are up 5% YTD.
- Rated Neutral CAT, MTW, JOY, NAV, TEX, MCRN, PH, KMT, ETN, ITW.
Thu, Feb. 4, 7:54 AM
Wed, Feb. 3, 9:37 AM
- Adjusted operating income of $17M, compared with $61M a year ago. Adjusted EPS of $0.14 per share vs. $0.56 per share in the prior year quarter.
- Revenue by segment: Industrial -16; Infrastructure -30%.
- Completed the sale of several non-core businesses related to certain castings, steel-plate fabrication and deburring for an aggregate price of approximately $70M prior to working capital adjustments.
- Due to the further deterioration of end markets, the company expects fiscal 2016 total sales to decline in the range of 20%-23%. Consistent with the change of expectations in December, the firm has reduced EPS approximately 40% at the midpoint to $0.85-$1.05 for the full fiscal year.
- FQ2 results
Wed, Feb. 3, 6:32 AM
- Kennametal (NYSE:KMT): FQ2 EPS of $0.14 beats by $0.02.
- Revenue of $524.02M (-22.4% Y/Y) beats by $21.98M.
Tue, Feb. 2, 5:30 PM
Mon, Feb. 1, 9:09 AM
- BofA/Merrill Lynch upgrades Kennametal (NYSE:KMT) to Neutral from Underperform.
- The valuation is attractive based on a $17 price target, analysts said.
Dec. 15, 2015, 12:48 PM
Dec. 15, 2015, 9:18 AM
Kennametal, Inc. supplies tooling, engineered components and advanced materials that are consumed in production processes. Its product offering includes a selection of standard and customized technologies for metalworking, such as sophisticated metal cutting tools, tooling systems and services,... More
Sector: Industrial Goods
Industry: Machine Tools & Accessories
Country: United States