Kennametal Inc. (KMT) said after close Monday that it earned $0.27 per share in quarter two 2023.
On the revenue line, the company reported $497.1 million, beating estimates by $5.4 million.
In the same quarter a year ago, the company earned $0.35 per share on revenue of $486.7 million.
The stock is up 0.03% to $29.58 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
Trading in the five days leading up to the report earned Kennametal Inc. a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 58. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Kennametal Inc is a manufacturer of metalworking tools and wear-resistant engineered components and coatings. The company operates in two business segments: Metal Cutting and infrastructure. It generates maximum revenue from the Metal Cutting segment. The Metal Cutting segment develops and manufactures high performance tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including aerospace, general engineering, energy, and transportation. Geographically, it derives a majority of revenue from the United States.