We’re in the midst of another quarterly financials reporting period for publicly-traded industrial distributors and manufacturers. Read below to learn about the most recent sales and revenue numbers for companies MDM typically covers, including: Kennametal, Ingersoll Rand, Timken, Parker Hannifin, Regal Rexnord, Columbus McKinnon and Rockwell Automation.

Kennametal

Metalworking supplier Kennametal reported its fiscal 2024 first quarter earnings, including sales of $492 million, compared to $495 million in the prior-year quarter. The slight sales decrease followed a reported 3.8% annual growth in the company’s fiscal 2023 fourth quarter.

Operating income for fiscal 1Q was $45 million, or 9.2% of sales, compared to $49 million, or 9.8% of sales, in the prior-year quarter. The decrease in operating income was primarily due to higher wages and general inflation, lower sales volumes, higher raw material costs and restructuring and related charges of approximately $4 million in the current quarter. Kennametal said these factors were partially offset by higher price realization and operational efficiencies, including restructuring savings. Adjusted operating income was $48.8 million, or 9.9% margin, in the current quarter, whereas operating income was not adjusted in the prior-year quarter.

The 1Q restructuring savings were about $4 million. The company’s restructuring plan, detailed Sept. 8, involves the closure of three to five manufacturing facilities.  Kennametal also announced that its Board of Directors appointed William Lambert as Chairman of the Board, effective Nov. 1.

Ingersoll Rand

Ingersoll Rand reported its 2023 third quarter earnings, which showed revenues of $1.739 billion, up 15% over the same quarter last year. Organic sales increased 6%. For 3Q, orders were $1.638 billion, down 1% versus the prior-year quarter. Organic orders were down 8%.

Reported net income attributable to Ingersoll Rand Inc. was $208 million during the quarter. Adjusted EBITDA was $462 million, up 23%, with a margin of 26.5%, up 170 basis points year-over-year. Incremental margin was 38%.

Orders were down 1% for the company’s Industrial Technologies and Services Segment and down 3% for its Precision and Science Technologies Segment.

Timken

Bearings and industrial motion manufacturer Timken announced its 2023 third quarter earnings, including sales of $1.14 billion, up 0.6% from the same period a year ago. Sequentially, the company’s sales growth decelerated from 2Q’s 10.3%.

Timken posted net income of $87.9 million, or $1.23 per diluted share. This compares to net income of $87.0 million or $1.18 per diluted share for the same period a year ago. Net income was 8.0% of sales in both periods. Adjusted net income in the third quarter was $111.2 million or $1.55 per diluted share. This compares to adjusted net income of $120.5 million or $1.63 per diluted share for the same period in 2022. Adjusted EBITDA in the quarter was $215.8 million or 18.9% of sales, compared with $213.6 million or 18.8% of sales in the third quarter of last year.

Timken also announced two acquisitions in October: Houston-based Engineered Solutions Group, and Italy-based Rosa Sistemi.

Parker Hannifin

Motion and control technology company Parker Hannifin Corporation announced its fiscal 2024 first quarter earnings, which showed sales increased 15% to $4.8 billion, while organic sales increased 2%. Segment operating margin was 21.3%, or a record 24.9% adjusted, an increase of 220 basis points.

Net income was $650.8 million compared with $387.9 million in the prior year quarter. Adjusted net income was $776.4 million, an increase of 26% compared with $615.5 million in the first quarter of fiscal 2023. For its Diversified Industrial Segment, North American sales increased 5% to $2.2 billion and operating income was $506.1 million compared with $453.0 million in the same period a year ago. For its Aerospace Systems Segment, sales increased 65% to $1.2 billion and operating income was $226.3 million compared with $92.2 million in the same period a year ago.

Regal Rexnord

Regal Rexnord reported its 2023 third quarter earnings, including a 24.5% increase in sales versus the same quarter last year. On Sept. 25, the company also announced a pending deal to divest its Industrial Motors & Generators to WEG for $400 million. The deal is expected to close in the first half of 2024.

Adjusted EBITDA margin was 20.6%, down 10bps compared with the prior year on a pro forma basis. Automation & Motion Control net sales were $419.8 million, an increase of 118.0% or flat on a pro forma organic basis. Industrial Powertrain Solutions segment net sales were $640.7 million, an increase of 54.2%. Power Efficiency Solutions net sales were $461.3 million, a decrease of 18.9% or a decrease of 19.1% on an organic basis. Industrial Systems net sales were $128.0 million, a decrease of 13.5% or a decrease of 13.2% on an organic basis.

Columbus McKinnon

Columbus McKinnon reported its fiscal 2024 second quarter financials, including record sales of $258.4 million, up 11.5% over same period in the prior year. Most of the growth was driven by non-U.S. sales, which grew 23.0% year-over-year. U.S. sales grew 3.9%.

The company also reported record gross margin of 38.7%, with a 190 basis point margin expansion sequentially. Record operating income was $33.4 million during fiscal 2Q, up 22% over the prior year. Columbus McKinnon said it expects fiscal 2024 3Q sales of approximately $245 million to $255 million at current exchange rates. This represents 9% growth year-over-year at the midpoint of the range.

Rockwell Automation

Rockwell Automation reported its fiscal 2023 fourth quarter and full-year earnings on Nov. 2. For 4Q, the company reported a sales increase of 20.5% year-over-year to$2.56 billion, with organic sales up 17.7%. Full-year reported sales were up 16.7%, while full-year organic sales were up 16.9%, the company said.

Fiscal 2023 4Q net income attributable to Rockwell Automation was $303 million or $2.61 per share, compared to $338.9 million or $2.91 per share in the fourth quarter of fiscal 2022. Pre-tax margin was 12.4% in the fourth quarter, compared to 19.1% in the same period last year. Total segment operating earnings were $572 million in 4Q, up 15.5% compared to $495 million in the same period of fiscal 2022. Total segment operating margin was 22.3% in 4Qcompared to 23.3% a year ago.