KMT

PITTSBURGH, May 27, 2026 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) (the "Company") today announced the final results and expiration of its previously announced cash tender offer (the "Tender Offer") to purchase any and all of the outstanding notes listed in the table below (the "Notes"). Capitalized terms used in this news release and not defined herein have the meanings given to them in the Offer to Purchase, dated May 19, 2026 (the "Offer to Purchase"). According to the information provided by Global Bondholder Services Corporation, the aggregate principal amount of the Notes that were validly tendered and not validly withdrawn as of the Expiration Time is set forth in the table below. The Tender Offer was made pursuant to the terms and conditions contained in the Offer to Purchase and the related Notice of Guaranteed Delivery for the Tender Offer, dated May 19, 2026. Subject to satisfaction of the conditions to the Tender Offer, including completion of the previously announced public offering of senior notes (the "Concurrent Notes Offering") which is expected to occur on May 28, 2026, the Corporation expects to accept for payment all Notes validly tendered pursuant to the Tender Offer and not validly withdrawn on May 29, 2026 (the "Settlement Date"). All payments for Notes purchased by the Corporation in connection with the Tender Offer will also include accrued and unpaid interest on the principal amount of Notes accepted for purchase from the last interest payment date applicable to the Notes up to, but not including, the Settlement Date. BofA Securities is the Lead Dealer Manager for the Tender Offer. Global Bondholder Services Corporation is the Tender and Information Agent. Persons with questions regarding the Tender Offer should contact BofA Securities at (888) 292-0070 (toll-free) or (980) 388-0539 (collect) or [email protected]. Questions regarding the tendering of Notes and requests for copies of the Offer to Purchase and related materials should be directed to Global Bondholder Services Corporation at (212) 430-3774 (for banks and brokers) or (855) 654-2015 (all others, toll-free) or email [email protected]. Copies of the Offer to Purchase are also available at the following web address: https://gbsc-usa.com/kennametal/. This news release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Tender Offer was made o...

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Kennametal (NYSE:KMT) reported strong quarterly earnings supported by higher revenue and improved margins. Management linked the results to effective pricing, firm demand in infrastructure and aerospace, and its vertically integrated tungsten supply. The company highlighted advantages from internal tungsten sourcing at a time when many industry players are facing supply challenges. Kennametal, trading around $34.65, is coming off a period where the stock is up 19.5% year to date and 63.1% over the past year, while still only 2.7% higher over five years. The earnings update puts fresh attention on how the business is using pricing and its supply setup to support profitability, even as the share price has pulled back 11.0% over the past month and 4.0% over the past week. For investors tracking NYSE:KMT, the latest quarter puts the focus on how durable these margin and revenue gains may be if tungsten markets or sector demand conditions change. The company’s vertically integrated tungsten position and exposure to infrastructure and aerospace will likely remain key areas to watch in upcoming reports. Stay updated on the most important news stories for Kennametal by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Kennametal. 📰 Beyond the headline: 1 risk and 4 things going right for Kennametal that every investor should see. ✅ Price vs Analyst Target: At $34.65, the stock trades about 10% below the $38.64 analyst price target range midpoint. ❌ Simply Wall St Valuation: Shares are flagged as trading roughly 52.2% above the platform's estimated fair value. ❌ Recent Momentum: The share price has fallen 11.0% over the last 30 days despite the strong quarterly update. There is only one way to know the right time to buy, sell or hold Kennametal: Head to Simply Wall St's company report for the latest analysis of Kennametal's fair value. 📊 Strong earnings supported by pricing, infrastructure and aerospace demand, and internal tungsten supply strengthen the core business case in this update. 📊 Keep an eye on margins, tungsten supply conditions, and how revenue tracks against the $38.64 price target and Machinery industry P/E of 25.9x. ⚠️ The shares are flagged as 52.2% above estimated fair valu...

Kennametal’s first quarter saw a significant positive reaction from the market, underpinned by robust revenue growth and strong margin expansion. Management attributed these results to a combination of increased pricing actions in response to surging tungsten costs and volume gains across key end markets, including infrastructure and aerospace. CEO Sanjay Chowbey highlighted that the company’s position as a vertically integrated tungsten supplier allowed it to secure material and capture market share, especially as competitors faced challenges in sourcing and lead times. Is now the time to buy KMT? Find out in our full research report (it’s free). Revenue: $592.6 million vs analyst estimates of $565.4 million (21.8% year-on-year growth, 4.8% beat) Adjusted EPS: $0.77 vs analyst estimates of $0.67 (14.6% beat) Adjusted EBITDA: $121.8 million vs analyst estimates of $103 million (20.6% margin, 18.3% beat) The company lifted its revenue guidance for the full year to $2.34 billion at the midpoint from $2.22 billion, a 5.4% increase Management raised its full-year Adjusted EPS guidance to $3.88 at the midpoint, a 72.2% increase Operating Margin: 13.4%, up from 9.1% in the same quarter last year Organic Revenue rose 19% year on year (beat) Market Capitalization: $2.73 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Stephen Volkmann (Jefferies) asked about incremental margins on volume in the quarter. CFO Patrick Watson clarified that, after accounting for unusual items like price raw timing benefits and higher variable compensation, volume leverage was in line with historical norms. Steven Fisher (UBS) inquired about the ability to pass through price increases, especially in metal cutting. CEO Sanjay Chowbey explained that infrastructure pricing is more immediate, while metal cutting typically sees a three- to six-month lag in reflecting higher raw material costs. Steve Barger (KeyBanc Capital Markets) questioned the durability of recent share gains, wondering if they could persist after competitors resolve supply issues. Chowbey indicated that while some gains are opportunistic, the company is focused on converti...

Interested in Kennametal Inc.? Here are five stocks we like better. Kennametal raised its fiscal 2026 outlook after a strong third quarter, now expecting sales of $2.33 billion to $2.35 billion and adjusted EPS of $3.75 to $4.00. Q3 sales rose 22% year over year and adjusted EPS increased to $0.77 from $0.47. Tungsten price spikes were a major driver of both higher pricing and working-capital pressure. Management said tungsten costs surged from about $900 to $3,000 per metric ton, boosting margins but weighing on cash flow and inventory levels. Infrastructure and Metal Cutting both showed strong growth, led by Earthworks, aerospace and defense, and energy-related demand. Management also highlighted share gains where competitors faced supply constraints, and said it is targeting further cost savings into fiscal 2027. Kennametal (NYSE:KMT) raised its fiscal 2026 sales and adjusted earnings outlook after reporting stronger-than-expected third-quarter results, as higher tungsten-related pricing, modest volume improvement and share gains across key markets lifted revenue and margins. On the company’s earnings call, President and Chief Executive Officer Sanjay Chowbey said Kennametal delivered a “strong third quarter” as commercial teams advanced growth initiatives in infrastructure and metal cutting. He said the company benefited from construction volume growth, large defense orders and continued momentum in aerospace, defense and energy-related applications tied to AI power generation. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum For the quarter, sales rose 22% year over year, including 19% organic growth and a 5% foreign currency benefit, partially offset by the effect of a divestiture completed last year, Chief Financial Officer Patrick Watson said. Sales volume was up in the low single digits. Adjusted earnings per share increased to $0.77 from $0.47 a year earlier, while adjusted EBITDA margin rose to 20.8% from 17.9%. A central theme of the call was the sharp rise in tungsten prices and the effect on Kennametal’s pricing, supply chain and cash flow. Chowbey said tungsten prices continued an “unprecedented increase” during the quarter, rising from approximately $900 per metric ton to $3,000 as supply remained constrained. → 3 Ways to Target the Resources Powering AI and Data Centers Chowbey said the environment created both challenges and...

Griffon Corporation GFF reported second-quarter fiscal 2026 (ended March 2026) adjusted earnings of $1.05 per share, which beat the Zacks Consensus Estimate of 99 cents. The bottom line was stable on a year-over-year basis. Total revenues of $421.9 million beat the consensus estimate of $413 million and decreased 1.1% year over year. The decline was attributable to lower volumes of 6%, partially offset by favorable price and mix of 5%. Effective from the fiscal second quarter, Griffon declared its AMES U.S., Canada, UK and Australia businesses as discontinued operations. The company currently reports the continuing operations’ financial results as a single segment. Griffon Corporation price-consensus-eps-surprise-chart | Griffon Corporation Quote Griffon’s cost of sales increased 0.7% year over year to $229.9 million. Selling, general and administrative expenses were down 2.7% year over year to $104.6 million. The gross margin decreased to 45.5% from 46.5% in the year-ago period. Net income was $19.3 million, reflecting a decline of 66% from the prior-year quarter. The company’s adjusted EBITDA from continuing operations totaled $97.8 million, down 4% from the year-ago quarter. At the end of the fiscal second quarter, Griffon had cash and cash equivalents of $109.7 million compared with $99 million at the end of fiscal 2025 (ended September 2025). Long-term debt, net of current maturities, was $1.39 billion at the end of the fiscal second quarter compared with $1.40 billion at fiscal 2025-end. In the first six months of fiscal 2026, the company generated net cash of $118.3 million from operating activities compared with $139.7 million in the year-ago period. Griffon paid out dividends of $21.2 million and repurchased shares worth $51 million in the same period. Exiting the fiscal second quarter, it had $247 million remaining under the share repurchase program. In the first six months of fiscal 2026, free cash flow from continuing operations was $100.7 million and capital expenditures (net) were $17.6 million. The company has reaffirmed its fiscal 2026 financial guidance. For fiscal 2026 (ending September 2026), management anticipates net sales from continuing operations to be $1.8 billion. It expects the adjusted EBITDA to be approximately $458 million. For the fiscal year, Griffon expects interest expense of $93 million and capital expenditures to be $50 mi...

ITT Inc.’s ITT first-quarter 2026 adjusted earnings of $1.98 per share surpassed the Zacks Consensus Estimate of $1.77. The bottom line jumped 25.3% year over year, aided by improved operational performance. Total revenues of $1.21 billion beat the consensus estimate of $1.12 billion. The top line increased 32.7% year over year. Organic sales rose 10.9% year over year, driven by solid momentum in connectors, projects including Svanehøj, transportation and valves. In the first quarter of 2026, the company combined the Industrial Process segment with its SPX FLOW business to form the Flow Technologies segment. Revenues from the Flow Technologies segment totaled $537.4 million, up 61.2% year over year. The increase was primarily driven by solid contributions from the SPX FLOW buyout, along with strength in the Svanehøj unit and valves execution. Organic sales increased 12.2% and adjusted operating income grew 67.9% on a year-over-year basis. Revenues from the Motion Technologies segment amounted to $397.2 million, implying a year-over-year increase of 14.8%. The higher sales were attributable to solid momentum in Friction original equipment and KONI businesses. Organic revenues increased 5.3% year over year. Adjusted operating income increased 21.7%. Our estimate for segmental revenues was pinned at $372 million. Revenues from the Connect & Control Technologies segment of $278.5 million rose 18.7% year over year on a reported basis and 17.5% organically. Our estimate was $269 million. The results were driven by growth in demand for commercial aerospace components and industrial connectors, and favorable pricing actions. Adjusted operating income increased 19.6% year over year. ITT Inc. price-consensus-eps-surprise-chart | ITT Inc. Quote ITT’s cost of revenues increased 32.8% year over year to $783.1 million. The gross profit jumped 32.7% to $428.8 million. General and administrative expenses increased 81.1% year over year to $154.1 million. Sales and marketing expenses rose 53.9% to $73.7 million. Research and development expenses increased 30.8% year over year to $33.1 million. Adjusted operating income rose 41.7% year over year to $245.6 million. The margin expanded 130 basis points to 20.3%. Exiting the first quarter, ITT had cash and cash equivalents of $600.8 million compared with $1.74 billion at the end of fourth-quarter 2025. The company’s short-term bo...

Kennametal Inc. KMT reported adjusted earnings of 77 cents per share for the third quarter of fiscal 2026 (ended March 31, 2026), up 63.8% year over year. The bottom line beat the Zacks Consensus Estimate of 68 cents. Sales were $592.6 million, up 22.0% from the year-ago quarter. The top line topped the Zacks Consensus Estimate of $567 million. The quarter benefited from stronger volume and pricing. Organic sales rose 19% year over year. Foreign currency translation had a positive impact of 5% on sales, while divestitures had an adverse impact of 2%. Regionally (in constant currency), growth was strongest in the Americas (up 27%) and Asia Pacific (up 25%), while EMEA increased 2%. End-market performance also skewed positive, led by Earthworks (up 43%), Energy (up 28%) and Aerospace & Defense (up 23%). Kennametal reports results under two business segments, namely Metal Cutting and Infrastructure. Its segmental performance for the fiscal third quarter is briefly discussed below: The Metal Cutting segment’s revenues of $358 million increased 18% year over year. Organic revenues grew 12% and currency exchange had a positive impact of 6% year over year. The Infrastructure segment’s revenues totaled $235 million, up 29% year over year. Organic revenues increased 30% and currency exchange had a positive impact of 4% year over year. This was partially offset by the negative impact of 5% from divestitures. Kennametal’s cost of goods sold increased 16.5% year over year. Gross profit rose 33.0% year over year to $208.0 million, while the margin increased 300 basis points (bps) to 35.1%. Operating expenses were $124.0 million, up 19.2% year over year. Operating income increased 79.5% year over year to $79.4 million. Operating margin increased 430 bps year over year to 13.4%. The results were driven by favorable impacts of pricing and tariff surcharges, higher sales and production volume and restructuring savings, offset by increased compensation costs and general inflation. Interest expenses were $6.3 million, up 0.8% from the year-ago quarter’s figure. The adjusted effective tax rate was 23.1%. While exiting the fiscal third quarter, Kennametal’s cash and cash equivalents were $106.9 million compared with $140.5 million at the end of fiscal 2025. Long-term debt was $597.4 million compared with $596.8 million at the end of fiscal 2025. In the first nine months of fisca...

DNOW Inc. DNOW announced its first-quarter 2026 results, wherein its reported loss per share was 24 cents against earnings of 19 cents in the year-ago quarter. Adjusted earnings per share came in at a penny compared with 22 cents a year ago. The figure missed the Zacks Consensus Estimate of five cents. Revenues for the first quarter increased 97.5% year over year to $1.18 billion, surpassing the Zacks Consensus Estimate of $1.13 billion. In the first quarter, the US generated revenues of $985 million, reflecting growth of 107.8% year over year. International revenues were $147 million, an increase of 133.3% year over year. Revenues from Canada totaled $51 million, down 17.7%. DNOW Inc. price-consensus-eps-surprise-chart | DNOW Inc. Quote DNOW’s cost of products sold increased 114.7% year over year to $990 million. The gross profit rose 40% to $193 million. Selling, general and administrative expenses surged 123% to $243 million. The company’s operating loss came in at $50 million against operating income of $29 million in the year-ago quarter. Adjusted EBITDA fell 15.2% year over year to $39 million, while the margin dropped 440 basis points to 3.3%. DNOW finished 2025 with cash and cash equivalents of $116 million, long-term debt of $571 million, net debt of $455 million and net leverage of 2.3x. Exiting the quarter, the company’s liquidity was approximately $379 million. Cash used in operating activities totaled $95 million in the quarter. The company repurchased $50 million of stock in the first quarter, under total repurchase authorization of $160 million. For 2026, DNOW expects to generate revenues of nearly $5 billion. While adjusted EBITDA margin is projected to be 4.5%, cash from operations is anticipated to be $100-$200 million. For the second quarter, revenues are expected to grow in the mid-to-high single-digit percentage range on a sequential basis. DNOW anticipates the U.S. and International segments to deliver revenue growth sequentially, while revenues from Canada are likely to decline. The company currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks are discussed below: DXP Enterprises DXPE presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. DXP Enterprises’ earnings surpassed the consensus estimate by 52.8% in the last reported quarter. In the past 60 days, the Zac...

Kennametal (KMT) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +13.24%. A quarter ago, it was expected that this engineered products maker would post earnings of $0.35 per share when it actually produced earnings of $0.47, delivering a surprise of +34.29%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Kennametal, which belongs to the Zacks Manufacturing - Tools & Related Products industry, posted revenues of $592.59 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.55%. This compares to year-ago revenues of $486.4 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Kennametal shares have added about 32% since the beginning of the year versus the S&P 500's gain of 6%. While Kennametal has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Kennametal was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today...

Johnson Controls International plc JCI reported second-quarter fiscal 2026 (ended March 2026) adjusted earnings of $1.19 per share, which beat the Zacks Consensus Estimate of $1.12. The bottom line increased 45.1% year over year. Total revenues (continuing operations) of $6.14 billion surpassed the consensus estimate of $6.10 billion in the quarter. The top line increased 8% year over year, whereas organic revenues increased 6%. Effective from the third quarter of fiscal 2025, the company started reporting under three segments, namely Americas, EMEA and APAC. Americas: Revenues were $4.12 billion, up 7% year over year. Organic sales also increased 7%, driven by the strong performance of the applied heating, ventilation and air conditioning (HVAC) and services businesses. Adjusted segment EBITA increased 13% year over year to $802 million. EMEA: Revenues totaled $1.28 billion, up 7% year over year. Organic sales rose 1% due to strong growth in the products and systems business. Adjusted EBITA was $191 million, up 41% year over year. APAC: Revenues increased 16% to $739 million. Sales rose 13% organically, due to strength in the applied HVAC business. Adjusted EBITA was $146 million, up 40% year over year. Johnson Controls International price-consensus-eps-surprise-chart | Johnson Controls International Quote In the fiscal second quarter, Johnson Controls’ cost of sales increased 7.5% year over year to approximately $3.88 billion. Gross profit increased 9.3% year over year to $2.26 billion and the margin rose 30 basis points (bps) to 36.8%. Selling, general and administrative expenses were $1.40 billion, down 1.8% year over year. Johnson Controls had cash and cash equivalents of $698 million as of March 31, 2026, compared with $379 million at the end of fiscal 2025 (ended Sept. 30, 2025). Long-term debt was $8.61 billion compared with $8.59 billion at the end of fiscal 2025. In the fiscal second quarter, the company generated net cash of $672 million from operating activities compared with $550 million in the year-ago quarter. It reported a free cash flow (on an adjusted basis) of $526 million in the same period compared with $463 million in the year-ago period. The company paid dividends worth $244 million and repurchased shares worth $215 million in the fiscal second quarter. Johnson Controls anticipates organic revenue growth of approximately 6% from the ye...

Howmet Aerospace Inc. HWM is scheduled to release first-quarter 2026 results on May 7, before market open. The Zacks Consensus Estimate for earnings is currently pegged at $1.11 per share on revenues of $2.24 billion. The company’s first-quarter earnings estimates have increased 1.8% over the past 60 days. The bottom-line projection indicates an increase of 29.1% from the year-ago number. The Zacks Consensus Estimate for quarterly revenues indicates year-over-year growth of 15.2%. Howmet Aerospace’s first-quarter results are expected to benefit from the persistent strength in its commercial aerospace market. Solid demand in the air transport market has been driving demand for wide-body aircraft, thereby supporting continued OEM spending. Pickup in air travel has been positive for the company as the increased usage of aircraft spurs spending on parts and products that it provides. Growing popularity for new, more fuel-efficient aircraft with reduced carbon emissions and increased spare demand for engines are likely to have proven favorable for HWM in the first quarter. The Zacks Consensus Estimate for revenues from the commercial aerospace market is pegged at $1.19 billion, indicating a 16.8% rise from the year-ago quarter number. Also, strong momentum in HWM’s defense aerospace market, supported by steady government support, is likely to boost its results. HWM is continuing to experience robust orders for engine spares for legacy fighters like F-35, F-15 and the F-16. This is expected to have augmented its top-line performance in the quarter. The consensus estimate for revenues from the defense aerospace market is pegged at $369 million, indicating 10.8% growth from the year-ago quarter’s number. Recovery in the commercial transportation market served by the Forged Wheels segment is likely to have augmented its first-quarter performance. The consensus estimate for revenues from the commercial transportation market is pegged at $318 million, indicating a 4.2% increase on a year-over-year basis. Howmet Aerospace is dependent on a global supply chain, and in recent years, it has experienced supply-chain disruptions in the aerospace sector that resulted in delays and increased costs. Despite moderation, the persistence of supply-chain issues in the aerospace sector is likely to have affected its operational performance. Howmet Aerospace Inc. price-eps-surprise |...

Axon Enterprise, Inc. AXON is scheduled to release first-quarter 2026 results on May 6, after market close. The Zacks Consensus Estimate for first-quarter revenues is pegged at $780.6 million, which indicates an increase of 29.3% from the year-ago quarter’s figure. The consensus mark for earnings is pinned at $1.66 per share, which has been stable in the past 60 days. The estimate indicates growth of 17.7% from the figure reported in the year-ago quarter. The company has surpassed the Zacks Consensus Estimate thrice and missed once in the preceding four quarters, the average surprise being 12.3%. In the last reported quarter, it reported earnings of $2.15 per share, which topped the consensus estimate by 28.7%. Let’s see how things have shaped up for Axon Enterprise this earnings season. Solid demand for TASER 10 products and higher cartridge sales are expected to have boosted the performance of Axon Enterprise’s Connected Devices segment in the first quarter. Also, strong customer response for its next-generation body-worn camera, Axon Body 4, and solid demand for virtual reality training services are expected to have driven the segment’s performance. Axon Enterprise’s strong presence in the counter-drone space, with the growing capabilities of its Dedrone offerings and Artificial Intelligence (AI)-powered command-and-control platform, is likely to have contributed to the segment’s growth. The Zacks Consensus Estimate for the Connected Devices segment’s revenues is pegged at $423 million. The Software & Services segment is also expected to have put up an impressive show in the upcoming earnings, supported by the addition of new users and associated devices to the AXON network. Continued momentum in digital evidence management and increased demand for premium add-on features are also likely to have augmented the segmental top line. Increased adoption of premium subscription plans is also likely to have been favorable for the segment. The Zacks Consensus Estimate for the Software & Services segment’s net sales is pegged at $354 million. AXON remains focused on acquisitions and strategic collaborations to expand its product offerings and customer base. For instance, in February 2026, the company acquired Carbyne, a well-known provider of cloud contact center technology solutions to public safety agencies. The acquisition integrated Carbyne’s advanced cloud-nat...