BUZZ-Kennametal falls on lower annual forecast

Reuters

Feb 06, 2025

** Shares of cutting tools and engineered components maker Kennametal KMT.N down 5.3% at $22.22, their lowest since October 12

** Expects 2025 sales to be between $1.95 billion and $2.0 billion, below analysts' average estimate of $2.03 billion — LSEG

** Also expects 2025 adj. profit of $1.05 to $1.30 per share vs analysts' average estimate of $1.44 per share

** Sees Q3 sales to be between $480 million and $500 million vs analysts' average estimate of $515.5 million

** "In light of these challenging conditions, we have reduced our full-year outlook and have taken the additional restructuring actions we announced in mid-January" — CEO Sanjay Chowbey

** Reports Q2 sales of $482 million and adj. EPS of $0.25

** KMT's shares fell ~6.86% in 2024

(Reporting by Megha Kumari in Bengaluru)

((Megha.Kumari@thomsonreuters.com))

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