Kennametal sees FY16 EPS $1.70-$2.00, consensus $2.00 The FY16 EPS guidance includes foreign currency headwinds of 30c-35c due to continued strength of the U.S. dollar. Sees FY16 organic sales to decline 1%-3%. Sees FY16 revenue down 7%-9%, consensus $2.63B. Sees restructuring benefits to range from $80M-$90M in 2016. Sees FY16 to generate cash flow from operating activities $275M-$310M. Sees FY16 CapEx $160M-$175M. Sees FY16 free operating cash flow $115M-$135M.
Kennametal: Restructuring programs to produce ongoing savings of $115M-$135M The previously announced restructuring programs are expected to produce combined annual ongoing pre-tax permanent savings of $115M-$135M. In total, pre-tax charges for these initiatives are expected to be approximately $185M-$205M.