Kennametal Inc. Q1 adjusted earnings Miss Estimates

(RTTNews) - Kennametal Inc. (KMT) revealed earnings for first quarter that declined from the same period last year.

The company's bottom line totaled $6.47 million, or $0.08 per share. This compares with $56.70 million, or $0.68 per share, in last year's first quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $13.90 million or $0.17 per share for the period.

Analysts had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.7% to $518.09 million from $586.69 million last year.

Kennametal Inc. earnings at a glance:

-Earnings (Q1): $13.90 Mln. vs. $58.47 Mln. last year. -EPS (Q1): $0.17 vs. $0.70 last year. -Analysts Estimate: $0.25 -Revenue (Q1): $518.09 Mln vs. $586.69 Mln last year.

-Guidance: Full year EPS guidance: $1.70 to $2.10