Kennametal reports Q3 adjusted EPS 47c, consensus 24c

Reports Q3 revenue $486.4M, consensus $489.3M. “During the quarter we demonstrated continued progress on our growth and cost initiatives despite weak market conditions, primarily in EMEA and the Americas,” said Sanjay Chowbey, president and CEO. “The market headwinds resulted in sales slightly below our midpoint while adjusted EPS exceeded the upper end of our outlook primarily due to an advanced manufacturing production credit.”