Kennametal Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Kennametal Inc. (KMT) reported a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $35.30 million, or $0.42 per share. This compares with $21.62 million, or $0.26 per share, in last year's third quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $39.12 million or $0.47 per share for the period.

Analysts on average had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.7% to $512.26 million from $484.66 million last year.

Kennametal Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $35.30 Mln. vs. $21.62 Mln. last year. -EPS (Q3): $0.42 vs. $0.26 last year. -Analyst Estimate: $0.42 -Revenue (Q3): $512.26 Mln vs. $484.66 Mln last year.

-Guidance: Next quarter revenue guidance: $510 - $530 Mln