Kennametal Inc. (KMT) reported Wednesday higher profit and sales in its second quarter, both above market estimates. Further, the firm issued outlook, expecting fiscal 2026 results above the Street.
In pre-market activity, the shares were gaining around 11 percent to trade at $39.72.
In the quarter, net income attributable to Kennametal grew to $33.89 million from $17.93 million last year. Earnings per share grew to $0.44 from $0.23 a year ago.
Adjusted net income was $36.26 million or $0.47 per share, compared to $19.64 million or $0.25 per share last year.
Sales of $529.53 million increased 10 percent from $482.05 million in the prior year quarter, reflecting organic sales growth of 10 percent.
The Wall Street analysts on average expected the company to report earnings of $0.38 per share on sales of $522.92 million. Analysts' estimates typically exclude special items.
Looking ahead for the third quarter, the company projects adjusted earnings per share to be $0.50 to $0.60, on sales of $545 million to $565 million.
Analysts project earnings of $0.53 per share on sales of $544.24 million for the quarter.
For fiscal 2026, the company projects adjusted earnings of $2.05 to $2.45 per share on sales of $2.190 billion to $2.250 billion.
The Street is looking for earnings of $1.66 per share on sales of $2.13 billion for the year.
Kennametal also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share, payable on February 24 to shareholders of record as of the close of business on February 10.
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