The 2020 Mid-Year Economic Update_long

Kennametal’s 4Q Sales Increase 36% Year-Over-Year

Kennametal reported fiscal fourth-quarter net income of $35 million after reporting a loss in the same period a year ago.
Kennametal logo

Kennametal Inc. (NYSE: KMT), Pittsburg, Pennsylvania, reported fourth-quarter sales of $516 million, which marked a 36% increase over the same quarter in 2020. Kennametal reported fiscal fourth-quarter net income of $35.1 million, after reporting a loss in the same period a year ago

Kennametal said it had a profit of 41 cents per share in the fourth quarter compared to a loss of 11 cents per share last year.

For fiscal 2021, the company reported earnings per share of six cents compared to a loss of 7 cents in the prior year. Sales decreased by 2% compared to the prior year.

“We ended fiscal 2021 with positive momentum driven by solid execution of our strategic commercial and operational excellence initiatives and continued recovery in our end-markets. In the quarter, we achieved strong operating leverage, free operating cash flow and 400 basis points of adjusted operating margin improvement year-over-year despite approximately 1,200 basis points of headwinds from prior year temporary cost controls,” said Kennametal CEO and President Christopher Rossi.

Kennametal also announced a share repurchase program of up to $200 million over the next three years, which Rossi said showed confidence in the company’s strategy going forward.

Related Posts

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.