Kennametal Inc. Q3 Profit Drops, Inline With Estimates

(RTTNews) - Kennametal Inc. (KMT) released a profit for third quarter that decreased from last year in line with the Street estimates.

The company's bottom line totaled $18.98 million, or $0.24 per share. This compares with $31.94 million, or $0.39 per share, in last year's third quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $23.93 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $515.79 million from $536.04 million last year.

Kennametal Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $18.98 Mln. vs. $31.94 Mln. last year. -EPS (Q3): $0.24 vs. $0.39 last year. -Revenue (Q3): $515.79 Mln vs. $536.04 Mln last year.

-Guidance: Full year EPS guidance: $1.40 - $1.55 Full year revenue guidance: $2.030 - $2.050 Bln