KENNAMETAL INC

Listed Company

KMTCIK 0000055242NYSELarge AcceleratedMachine Tools, Metal Cutting TypesPennsylvaniaFY ends Jun 30

Period

FY 2025

Revenue

$1.97B

Net Income

$93.13M

Total Assets

$2.55B

Equity

$1.28B

Shares Out

76.20M

Op. Cash Flow

$208.32M

Business

Kennametal Inc is a global industrial technology company that develops and applies engineered materials and solutions for metal cutting and extreme-wear applications across diverse end markets. It offers tungsten carbide, ceramic and super‑hard material products including metal cutting tooling (turning, milling, hole making and tooling systems), specialized wear components and metallurgical powders. The company operates two reportable segments—Metal Cutting, providing high‑performance tooling and services under Kennametal and WIDIA brands, and Infrastructure, producing engineered wear components, earth‑cutting tools and advanced powders. It sells products through direct sales forces, independent and national distributors, integrated supplier channels and digital platforms across North America, Western Europe, China, India and other international markets.

Summary from filing dated 2025-08-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Sales	1,967	2,047	2,078	2,012	1,841
Cost of goods sold	1,369	1,420	1,432	1,364	1,289
Gross profit	598	627	646	648	552
Operating expense	431	433	437	419	407
Restructuring and other charges, net (Note 16)	12	12	4	−1	29
Gain on divestiture (Note 4)	2	0	0	−1	0
Amortization of intangibles	11	12	13	13	14
Operating income	143	170	192	218	102
Interest expense	25	26	28	26	—
Other expense (income), net	−14	−699,000	4	−15	−9
Income before income taxes	132	144	160	207	65
Provision for income taxes (Note 13)	33	31	36	57	6
Net income	99	114	123	150	58
Less: Net income attributable to noncontrolling interests	6	4	5	6	4
Net income attributable to Kennametal	93	109	118	145	54
Basic earnings per share	1.21	1.38	1.47	1.74	0.65
Diluted earnings per share	1.2	1.37	1.46	1.72	0.65
Basic weighted average shares outstanding	77	79	81	83	84
Diluted weighted average shares outstanding	78	80	81	84	84

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	141	128	106	86	154
Accounts receivable, less allowance for doubtful accounts of $8,759 and $9,422, respectively	295	303	307	295	303
Inventories (Note 7)	538	515	558	571	476
Other current assets	65	57	56	73	71
Total current assets	1,039	1,003	1,027	1,025	1,005
Land and buildings	440	415	416	410	414
Machinery and equipment	2,058	1,992	1,952	1,905	1,959
Less accumulated depreciation	−1,579	−1,469	−1,399	−1,313	−1,318
Property, plant and equipment, net	920	938	969	1,002	1,055
Goodwill (Note 8)	283	272	270	264	278
Other intangible assets, less accumulated amortization of $173,346 and $160,699, respectively (Note 8)	67	81	93	106	120
Operating lease right-of-use assets (Note 9)	45	48	43	47	50
Deferred income taxes (Note 13)	90	79	66	55	59
Long-term prepaid pension benefit (Note 14)	75	70	71	66	89
Other	26	13	10	9	10
Total other assets	586	563	551	547	606
Total assets	2,545	2,504	2,547	2,574	2,666
Revolving and other lines of credit and notes payable (Note 12)	977,000	1	689,000	21	8
Current operating lease liabilities (Note 9)	12	13	11	12	14
Accounts payable	196	192	203	228	178
Accrued income taxes	9	13	25	29	18
Accrued vacation pay	12	12	15	15	17
Accrued payroll	43	41	41	41	44
Other current liabilities (Note 10)	149	144	138	138	158
Total current liabilities	422	416	434	486	437
Long-term debt, less current maturities (Note 11)	597	596	595	594	592
Operating lease liabilities (Note 9)	33	36	32	35	37
Deferred income taxes (Note 13)	33	36	32	32	24
Accrued postretirement benefits (Note 14)	6	6	7	8	10
Accrued pension benefits (Note 14)	107	104	109	105	161
Accrued income taxes	2	1	1	6	4
Other liabilities	21	20	23	15	32
Total liabilities	1,221	1,215	1,233	1,282	1,298
Commitments and contingencies (Note 20)	—	—	—	—	—
Preferred stock, no par value; 5,000 shares authorized; none issued	0	0	0	0	0
Capital stock, $1.25 par value; 120,000 shares authorized; 79,835 and 81,337 shares issued, respectively	95	97	100	102	105
Additional paid-in capital	374	417	465	494	563
Retained earnings	1,202	1,170	1,125	1,071	993
Accumulated other comprehensive loss (Note 15)	−387	−435	−414	−414	−330
Total Kennametal Shareholders' Equity	1,284	1,250	1,275	1,253	1,330
Noncontrolling interests	41	39	39	39	39
Total equity	1,325	1,289	1,314	1,291	1,368
Total liabilities and equity	2,545	2,504	2,547	2,574	2,666

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation	126	123	121	119	112
Stock-based compensation expense	22	24	25	21	25
Restructuring and other charges, net (Note 16)	12	12	4	−753,000	—
Deferred Income Tax Expense (Benefit)	−13	−8	−9	11	−21
Insurance Recoveries	−12	—	—	—	—
Accounts receivable	9	−3	−12	−14	−53
Inventories	−17	37	18	−127	61
Accounts payable and accrued liabilities	−6	−6	−33	32	47
Accrued income taxes	−12	−16	852,000	10	−18
Accrued pension and postretirement benefits	−7	−9	−10	−24	−32
Other	−5	−4	10	−5	21
Net cash flow provided by operating activities	208	277	258	181	236
Payments to Acquire Productive Assets	89	108	94	97	—
Disposals of property, plant and equipment	2	5	5	924,000	4
Proceeds from divestiture (Note 4)	19	0	0	1	0
Proceeds from Insurance Settlement, Investing Activities	12	—	—	—	—
Payments to Acquire Businesses, Net of Cash Acquired	0	−4	0	0	—
Other	−5	−3	126,000	60,000	−47,000
Net cash flow used for investing activities	−62	−109	−89	−95	−123
Net (decrease) increase in notes payable	−459,000	714,000	−1	−6	605,000
Net (decrease) increase in revolving and other lines of credit	0	0	−19	19	−500
Purchase of capital stock	−60	−66	−49	−86	−197,000
The effect of employee benefit and stock plans and dividend reinvestment	−7	−10	−6	−7	821,000
Cash dividends paid to Shareholders	−62	−63	−65	−67	−67
Other	−4	−3	−3	−5	−7
Net cash flow used for financing activities	−134	−142	−143	−151	−574
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	−11,000	−4	−5	−4	9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	13	22	20	−68	−453
Other Noncash Income (Expense)	2	1	7	−2	—

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