Kennametal Announces Additional Share Repurchase Program - Quick Facts

(RTTNews) - Kennametal Inc. (KMT) said its Board of Directors authorized an additional share repurchase program. The company plans to repurchase up to an additional $200 million of Kennametal common stock over a three-year period. The company anticipates to fund repurchases through cash generated from operations.

Christopher Rossi, CEO, said: "We remain focused on the things we can control including gaining share and accelerating progress on our $100 million in cost reductions by the end of fiscal 2027. As a result, we are taking additional actions to increase the savings of our current restructuring program from $20 million to $35 million by the end of fiscal 2024."