Kennametal Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Kennametal Inc. (KMT) revealed a profit for third quarter that decreased from last year.

The company's profit came in at $2.92 million, or $0.03 per share. This compares with $68.55 million, or $0.82 per share, in last year's third quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $38.14 million or $0.46 per share for the period.

Analysts had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.1% to $483.08 million from $597.20 million last year.

Kennametal Inc. earnings at a glance:

-Earnings (Q3): $38.14 Mln. vs. $64.32 Mln. last year. -EPS (Q3): $0.46 vs. $0.77 last year. -Analysts Estimate: $0.32 -Revenue (Q3): $483.08 Mln vs. $597.20 Mln last year.