Kennametal Inc. Reports Earnings Results for the Fourth Quarter Ended June 30, 2021
August 03, 2021 at 01:31 am IST
Share
Kennametal Inc. announced earnings results for the fourth quarter ended June 30, 2021. For the fourth quarter, the company announced sales was USD 515.971 million compared to USD 379.053 million a year ago. Operating income was USD 60.791 million compared to USD 15.621 million a year ago. Net income was USD 35.101 million compared to net loss of USD 9.106 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to basic loss per share from continuing operations of USD 0.11 a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to basic loss per share from continuing operations of USD 0.11 a year ago. For the full year, sales was USD 1,841.441 million compared to USD 1,885.305 million a year ago. Operating income was USD 102.168 million compared to USD 22.252 million a year ago. Net income was USD 54.434 million compared to net loss of USD 5.661 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to basic loss per share from continuing operations of USD 0.07 a year ago.
Kennametal Inc. is an industrial technology company, which serves customers across the aerospace and defense, earthworks, energy, general engineering and transportation end markets. The Company's segments include Metal Cutting and Infrastructure. The Metal Cutting segment develops and manufactures tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets. The Metal Cutting segment offers products, including milling, hole making, turning, threading and toolmaking systems used in the manufacture of airframes, aero engines, trucks and automobiles, ships and various types of industrial equipment. The Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and advanced metallurgical powders, for the aerospace and defense, energy, earthworks and general engineering end markets. The Infrastructure segment markets its products under the Kennametal brand.