WASHINGTON (dpa-AFX) - Kennametal Inc. (KMT) announced a profit for its third quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $31.48 million, or $0.41 per share. This compares with $18.98 million, or $0.24 per share, last year.
Excluding items, Kennametal Inc. reported adjusted earnings of $36.34 million or $0.47 per share for the period.
Analysts on average had expected the company to earn $0.24 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 5.7% to $486.40 million from $515.79 million last year.
Kennametal Inc. earnings at a glance (GAAP) :
-Earnings: $31.48 Mln. vs. $18.98 Mln. last year. -EPS: $0.41 vs. $0.24 last year. -Revenue: $486.40 Mln vs. $515.79 Mln last year.
-Guidance: Full year EPS guidance: $1.30 - $1.45 Full year revenue guidance: $1.970 - $1.990 Bln
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