PITTSBURGH (AP) — PITTSBURGH (AP) — Kennametal Inc. (KMT) on Wednesday reported fiscal first-quarter net income of $30.1 million.
The Pittsburgh-based company said it had net income of 37 cents per share. Earnings, adjusted for restructuring costs, came to 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The engineered products maker posted revenue of $492.5 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $498.9 million.
For the current quarter ending in December, Kennametal expects its per-share earnings to range from 20 cents to 30 cents.
The company said it expects revenue in the range of $490 million to $515 million for the fiscal second quarter.
Kennametal expects full-year earnings in the range of $1.75 to $2.15 per share, with revenue ranging from $2.1 billion to $2.2 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMT at https://www.zacks.com/ap/KMT