Kennametal Inc. announced results for its 2027 fiscal Q1, highlighting quarterly profit of $271.6 million.
This Pittsburgh-based tooling industry leader also noted sales of $768 million, representing an increase of 54 percent on both a reported and organic basis.
President and CEO Sanjay Chowbey attributed the “excellent” results to “favorable timing of raw material-related pricing compared to costs and stronger Metal Cutting volumes.” Specifically, Metal Cutting sales of $398 million increased 28 percent from $311 million in the prior year quarter.
The company also pointed to other influential factors, noting a significant increase in operating income was also driven by approximately $4 million from an advanced manufacturing production credit under the Inflation Reduction Act, as well as $3 million in savings due to restructuring.
Kennametal reiterated its fiscal year 2027 guidance and raised the full year adjusted EPS.
