PITTSBURGH (AP) — Kennametal Inc. on Wednesday reported fiscal second-quarter net income of $23.1 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 29 cents. Earnings, adjusted for restructuring costs and pretax expenses, were 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The engineered products maker posted revenue of $495.3 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $495.2 million.
For the current quarter ending in March, Kennametal expects its per-share earnings to range from 25 cents to 35 cents. The company said it expects revenue in the range of $510 million to $530 million for the fiscal third quarter.
Kennametal expects full-year earnings in the range of $1.35 to $1.65 per share, with revenue ranging from $2.02 billion to $2.07 billion.
