Kennametal posted higher sales, profit and earnings in the first quarter of its new fiscal year and raised its forecast for the year as a whole.
The cutting tool and engineered components manufacturer posted quarterly sales of $498 million, a 3% increase compared to the same quarter last year. Sales in the company’s metal cutting segment were up 5% over that span, while its infrastructure unit saw a 1% increase.
Kennametal’s overall gross profit rose from $151 million in the previous first quarter up to $154.6 million. Operating income climbed from $36 million to $37.6 million year-over-year, and net income rose from $23.5 million to $24.6 million.
Kennametal President and CEO Sanjay Chowbey said that gains in share and “modest end market improvements” led to sales and adjusted earnings that “exceeded the upper end of our outlook.” The company now expects full-year sales of between $2.1 billion and $2.17 billion, and adjusted earnings of between $1.35 and $1.65 per share.
“As we continue to build a more resilient business and create value for shareholders, our team remains focused on our fiscal year 2026 priorities of above market growth, cost structure improvement and shaping a smarter portfolio,” Chowbey said in a statement.
