Kennametal Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Kennametal Inc. (KMT) released a profit for its third quarter that advanced from the same period last year.

The company's profit came in at $21.62 million, or $0.26 per share. This compares with $2.92 million, or $0.03 per share, in last year's third quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $27.14 million or $0.32 per share for the period.

Analysts had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $484.66 million from $483.08 million last year.

Kennametal Inc. earnings at a glance:

-Earnings (Q3): $27.14 Mln. vs. $38.14 Mln. last year. -EPS (Q3): $0.32 vs. $0.46 last year. -Analysts Estimate: $0.20 -Revenue (Q3): $484.66 Mln vs. $483.08 Mln last year.