WASHINGTON (dpa-AFX) - While reporting financial results for the second quarter on Wednesday, industrial technology firm Kennametal Inc. (KMT) the company provided its guidance for the third quarter, below analysts' expectations. The company also slashed its adjusted earnings and sales outlook for the full-year 2025.
For the third quarter, the company expects adjusted earnings in a range of $0.20 to $0.30 per share on sales between $480 million to $500 million.
On average, analysts polled expect the company to report earnings of $0.38 per share on sales of $517.58 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the company now projects adjusted earnings in a range of $1.05 to $1.30 per share on sales between $1.95 billion and $2.0 billion.
Previously, the company expected adjusted earnings in the range of $1.30 to $1.70 per share on sales between $2.0 billion and $2.1 billion.
The Street is looking for earnings of $1.44 per share on sales of $2.03 billion for the year.
Kennametal also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share, payable on February 25, 2025 to shareholders of record as of the close of business on February 11, 2025.
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