Kennametal Inc. Q3 Profit Increases, Beats Estimates

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

The company's earnings came in at $31.48 million, or $0.41 per share. This compares with $18.98 million, or $0.24 per share, last year.

Excluding items, Kennametal Inc. reported adjusted earnings of $36.34 million or $0.47 per share for the period.

Analysts on average had expected the company to earn $0.24 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.7% to $486.40 million from $515.79 million last year.

Kennametal Inc. earnings at a glance (GAAP) :

-Earnings: $31.48 Mln. vs. $18.98 Mln. last year. -EPS: $0.41 vs. $0.24 last year. -Revenue: $486.40 Mln vs. $515.79 Mln last year.

-Guidance: Full year EPS guidance: $1.30 - $1.45 Full year revenue guidance: $1.970 - $1.990 Bln