Kennametal Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Kennametal Inc. (KMT) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $30.057 million, or $0.37 per share. This compares with $28.196 million, or $0.34 per share, in last year's first quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $33.004 million or $0.41 per share for the period.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.5% to $492.476 million from $494.792 million last year.

Kennametal Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $30.057 Mln. vs. $28.196 Mln. last year. -EPS (Q1): $0.37 vs. $0.34 last year. -Analyst Estimate: $0.35 -Revenue (Q1): $492.476 Mln vs. $494.792 Mln last year.

-Guidance: Next quarter EPS guidance: $0.20 to $0.30 Next quarter revenue guidance: $490 to $515 Mln Full year EPS guidance: $1.75 to $2.15 Full year revenue guidance: $2.1 to $2.2 Bln