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News Breaks
February 14, 2014
09:07 EDTKMTKennametal reports orders flat on organic basis for 3 months end January
Kennametal reported orders for the 3 months ended January 31 rose 12% on both of U.S. dollar and local currency basis. Consolidated orders reflected acquisition growth related to the Tungsten Materials Business. On an organic basis, orders were relatively similar to prior year levels. Kennametal's order rates were mixed for the month of January. The company said, "Although extreme weather conditions had some temporary slowing impact to customer activity, the Industrial segment continued to generate year-over-year growth, primarily in its tooling business. However, order rates for the Infrastructure segment was lower compared with prior year, due to reduced volumes in its mining and energy businesses." Kennametal continues to expect organic revenue growth in the 2%-4% range for FY14, as stated in the company's recent earnings announcement.
News For KMT From The Last 14 Days
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July 30, 2015
08:11 EDTKMTKennametal board increases quarterly dividend by 11%
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08:10 EDTKMTKennametal 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.
08:08 EDTKMTKennametal: 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.
08:07 EDTKMTKennametal reports Q4 Industrial segment sales down 14% to $358M
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08:07 EDTKMTKennametal reports Q4 organic sales down 10%
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08:06 EDTKMTKennametal reports Q4 adjusted EPS 46c, consensus 44c
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