NYSE$KMT
Kennametal Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Kennametal's third quarter results for fiscal year 2021 were announced, showcasing sequential sales growth and solid execution of strategic initiatives.
Kennametal reported sales of $485 million, a 10% increase sequentially, with EPS of $0.26 and adjusted EPS of $0.32. The company generated strong cash flow, with $139 million from operations year-to-date and $46 million in free operating cash flow. Incremental simplification/modernization benefits were approximately $18 million for the quarter.
- Sales increased 10 percent sequentially, outperforming expectations.
- Generated strong third quarter cash, delivering year-to-date cash flow from operations of $139 million and free operating cash flow of $46 million.
- Achieved approximately $18 million in incremental simplification/modernization benefits in the third quarter.
- Sales are expected to be up mid-single digits sequentially in the fourth quarter due to continued market recovery and commercial excellence.
Headline financials
Revenue & EPS history
Kennametal · Revenue · Quarterly
$485M
Forward guidance
For the fourth quarter, Kennametal expects sales to be up mid-single digits sequentially and adjusted operating margin to modestly improve sequentially. Capital spending is expected to be approximately $120 million for FY21.
Tailwinds
- Sales are expected to be up mid-single digits sequentially.
- Adjusted operating margin is expected to modestly improve sequentially.
- Continued market recovery.
- Commercial excellence initiatives.
- Disciplined execution.
Headwinds
- Customer supply chain challenges.
- Semiconductor shortage issue in Transportation.
- Uncertainty from COVID-19 related restrictions, primarily in EMEA and parts of Asia Pacific.
- Unpredictable global market conditions.
- Overall economic recovery is underway but somewhat uncertain.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.9%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+0.8%
Avg return
30 days after
58%
39 / 67 earnings
Positive
+18.4%
Q3 2026
Best reaction
-10.8%
Q1 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +18.4% | -1.2% | -13.1% | |
| Q2 2026 | +7.2% | +13.8% | +4.0% | |
| Q1 2026 | +13.9% | +22.4% | +26.0% | |
| Q3 2025 | +0.1% | +10.6% | +10.6% | |
| Q2 2025 | -3.4% | -5.6% | -4.4% | |
| Q1 2025 | +10.4% | +13.2% | +2.6% | |
| Q4 2024 | +3.8% | +1.4% | +1.3% | |
| Q3 2024 | +6.0% | +5.0% | -0.1% | |
| Q2 2024 | -5.2% | -0.8% | +1.8% | |
| Q1 2024 | +1.0% | -0.4% | +4.5% | |
| Q4 2023 | -5.6% | -9.8% | -13.2% | |
| Q3 2023 | +5.3% | +3.7% | -4.0% | |
| Q2 2023 | -3.8% | -6.0% | -2.9% | |
| Q1 2023 | -5.5% | -7.8% | +0.3% | |
| Q4 2022 | -1.4% | -2.3% | -12.7% | |
| Q3 2022 | +3.2% | +1.3% | +7.5% | |
| Q2 2022 | -2.2% | -3.3% | -11.3% | |
| Q1 2022 | +0.3% | -3.0% | -12.2% | |
| Q4 2021 | +4.7% | +0.7% | +2.7% | |
| Q3 2021 | +2.8% | +4.1% | -6.0% | |
| Q2 2021 | -5.4% | -5.6% | +1.9% | |
| Q1 2021 | -6.3% | -3.7% | +14.8% | |
| Q4 2020 | -3.5% | +8.6% | +14.5% | |
| Q3 2020 | +3.0% | +4.5% | +23.7% | |
| Q2 2020 | -5.4% | -5.1% | -9.7% | |
| Q1 2020 | +2.5% | +3.9% | +6.7% | |
| Q4 2019 | -6.5% | -10.4% | -13.4% | |
| Q3 2019 | -5.7% | -12.4% | -19.6% | |
| Q2 2019 | -0.4% | -3.9% | -4.5% | |
| Q1 2019 | +1.0% | +2.2% | +2.3% | |
| Q4 2018 | +8.0% | +2.2% | +8.4% | |
| Q3 2018 | +0.1% | +5.9% | +1.3% | |
| Q2 2018 | -4.3% | -7.7% | -15.9% | |
| Q1 2018 | +8.6% | +5.1% | +6.7% | |
| Q4 2017 | -5.4% | -2.0% | -5.2% | |
| Q3 2017 | +7.8% | +5.7% | -1.7% | |
| Q2 2017 | +2.7% | +5.8% | +6.4% | |
| Q1 2017 | -4.5% | -3.9% | +22.9% | |
| Q4 2016 | +4.8% | +10.5% | +11.1% | |
| Q3 2016 | +1.7% | — | — | |
| Q2 2016 | +11.2% | — | — | |
| Q1 2016 | -3.8% | — | — | |
| Q4 2015 | -3.0% | — | — | |
| Q3 2015 | +7.8% | — | — | |
| Q2 2015 | +1.4% | — | — | |
| Q1 2015 | -7.4% | — | — | |
| Q4 2014 | -4.8% | — | — | |
| Q3 2014 | +2.9% | — | — | |
| Q2 2014 | -9.1% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | +2.7% | — | — | |
| Q3 2013 | +2.9% | — | — | |
| Q2 2013 | -3.5% | — | — | |
| Q1 2013 | -6.6% | — | — | |
| Q4 2012 | +12.6% | — | — | |
| Q3 2012 | -7.8% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | -10.8% | — | — | |
| Q4 2009 | +9.8% | — | — | |
| Q4 2011 | +9.8% | — | — | |
| Q3 2011 | +4.1% | — | — | |
| Q3 2010 | +4.1% | — | — | |
| Q2 2011 | -0.8% | — | — | |
| Q2 2010 | +1.1% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — |
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