Kennametal beats Q1 sales estimates, raises forecast
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Kennametal reported a 3% increase in fiscal Q1 sales, surpassing analyst expectations, with adjusted EPS rising 18% to $0.34. The company raised its annual sales and EPS outlook, projecting Q2 sales between $500 million and $520 million and FY sales of $2.100 billion to $2.170 billion. Key growth drivers included organic growth and favorable currency effects, despite divestitures. The average analyst rating remains "hold," with a median 12-month price target of $21.50, slightly below its recent closing price of $22.11.
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