Kennametal Inc. is a global industrial technology company that develops and manufactures high-performance metal cutting tools, tooling systems, and wear-resistant engineered components. Headquartered in Pittsburgh, Pennsylvania, the company serves customers across the aerospace, defense, earthworks, energy, transportation, and general engineering sectors. Kennametal is distinctive for its deep expertise in materials science, particularly in the development of tungsten carbide, ceramics, and super-hard materials.
Financial Statements
In thousands, USD
FY 2026
FY 2025
FY 2024
FY 2023
Total Revenues
2,356,698
1,966,845
2,046,899
2,078,184
Cost of Sales
1,386,742
1,368,775
1,419,806
1,431,745
Gross Profit
969,956
598,070
627,093
646,439
Selling, General & Administrative Expenses
478,993
430,835
433,161
437,292
Depreciation & Amortization Expenses
9,522
10,787
11,557
12,624
Other Operating Expenses
8,909
13,325
12,152
4,106
Operating Profit
472,532
143,123
170,223
192,417
Interest Expense
(28,561)
(24,930)
(26,472)
(28,496)
Non-Operating Income
17,358
13,811
699
(4,300)
Total Non-Operating Income
(11,203)
(11,119)
(25,773)
(32,796)
Income Before Provision for Income Taxes
461,329
132,004
144,450
159,621
Provision for Income Taxes
110,915
33,296
30,809
36,255
Consolidated Net Income
350,414
98,708
113,641
123,366
Net Income Attributable to Minority Interests and Other
8,025
5,583
4,318
4,907
Net Income Attributable to Common Shareholders
342,389
93,125
109,323
118,459
Basic EPS
4.49
1.21
1.38
1.47
Diluted EPS
4.42
1.20
1.37
1.46
Basic Weighted Average Shares Outstanding
76,215
77,264
79,390
80,803
Diluted Weighted Average Shares Outstanding
77,424
77,894
79,965
81,402
Shares Outstanding
76,215
76,209
78,585
79,835
FY 2026
FY 2025
FY 2024
FY 2023
Cash and Cash Equivalents
95,791
140,540
127,971
106,021
Total Cash and Cash Equivalents
95,791
140,540
127,971
106,021
Accounts Receivable
408,438
295,401
302,810
307,313
Total Trade Receivables
408,438
295,401
302,810
307,313
Inventories
1,108,450
538,237
514,632
557,630
Other Current Assets
159,092
65,092
57,179
55,825
Total Current Assets
1,771,771
1,039,270
1,002,592
1,026,789
Net Property, Plant & Equipment
889,387
965,135
986,205
1,012,104
Net Intangible Assets
55,886
67,209
81,421
93,164
Goodwill
279,213
282,726
271,567
269,551
Other Long-Term Assets
170,495
191,072
161,973
145,626
Total Assets
3,166,752
2,545,412
2,503,758
2,547,234
Accounts Payable
369,841
195,929
191,541
203,341
Accrued Expenses
83,891
64,130
66,165
80,778
Short-Term Debt
32,170
977
1,377
689
Current Portion of Leases
11,718
12,187
12,766
11,379
Other Current Liabilities
179,088
149,106
144,112
137,788
Total Current Liabilities
676,708
422,329
415,961
433,975
Long-Term Debt
685,280
596,788
595,980
595,172
Leases
34,538
33,408
35,631
32,178
Other Long-Term Liabilities
156,789
168,239
167,587
171,741
Total Long-Term Liabilities
876,607
798,435
799,198
799,091
Total Liabilities
1,553,315
1,220,764
1,215,159
1,233,066
Common Stock
95,267
95,015
97,361
99,794
Additional Paid-in Capital
390,310
373,902
416,620
465,406
Accumulated Other Comprehensive Income
(399,030)
(386,693)
(434,588)
(414,343)
Retained Earnings
1,483,297
1,201,755
1,170,482
1,124,590
Total Common Shareholders' Equity
1,569,844
1,283,979
1,249,875
1,275,447
Minority Interests and Other
43,593
40,669
38,724
38,721
Total Shareholders' Equity
1,613,437
1,324,648
1,288,599
1,314,168
Total Liabilities and Shareholders' Equity
3,166,752
2,545,412
2,503,758
2,547,234
FY 2026
FY 2025
FY 2024
FY 2023
Net Income
350,414
98,708
113,641
123,366
Depreciation & Amortization
143,155
136,496
134,687
134,025
Share-Based Compensation Expense
34,851
22,115
24,340
24,657
Other Adjustments
62,104
(9,811)
5,540
1,966
Changes in Trade Receivables
(116,866)
9,068
(2,624)
(11,543)
Changes in Inventories
(593,396)
(17,396)
36,835
17,582
Changes in Accounts Payable
226,097
(6,157)
(6,086)
(32,514)
Changes in Income Taxes Payable
11,006
(12,267)
(16,219)
852
Changes in Other Operating Activities
(121,373)
(12,432)
(13,006)
(446)
Cash from Operating Activities
(4,008)
208,324
277,108
257,945
Capital Expenditure
(76,905)
(88,971)
(107,561)
(94,385)
Proceeds from Sale of Property, Plant & Equipment
1,775
1,841
5,425
5,029
Payments for Business Acquisitions
—
—
(4,010)
—
Proceeds from Business Divestments
—
18,689
—
—
Other Investing Activities
3,835
6,616
(3,280)
126
Cash from Investing Activities
(71,295)
(61,825)
(109,426)
(89,230)
Issuance of Short-Term Debt
31,293
(459)
714
(20,270)
Net Issuance / (Repayments) of Short-Term Debt
31,293
(459)
714
(20,270)
Issuance of Long-Term Debt
296,994
—
—
—
Repayments of Long-Term Debt
(209,387)
—
—
—
Net Issuance / (Repayments) of Long-Term Debt
87,607
—
—
—
Issuance of Common Shares
(8,086)
(7,059)
(9,982)
(6,042)
Repurchases of Common Shares
(10,106)
(60,120)
(65,574)
(49,290)
Net Issuance / (Repurchases) of Common Shares
(18,192)
(67,179)
(75,556)
(55,332)
Common Share Dividends Paid
(60,847)
(61,852)
(63,431)
(64,524)
Other Financing Activities
(8,227)
(4,429)
(3,474)
(2,982)
Cash from Financing Activities
31,634
(133,919)
(141,747)
(143,108)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
(1,080)
(11)
(3,985)
(5,172)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash