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Kennametal Third Quarter Sales Down 1.8%

Kennametal Inc. (NYSE: KMT), Latrobe, Pennsylvania, reported third-quarter sales of $597.2 million, down 1.8% from $607.9 million in the same period a year ago. Operating income was $81.9 million, compared to $80.8 million in the prior-year quarter. Net income was $70.1 million, up from $53.1 million in 3Q 2018.

For the first nine months, sales totaled $1.8 billion, up 2.9% over the same period in 2018. 

Industrial sales during the quarter were $318.6 million, down 4.3% from $333 million in the prior year quarter. Widia operating income was $51 million compared to $52.2 million in the prior year quarter. 

 

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