Kennametal Inc. Q2 Profit Increases, but misses estimates

(RTTNews) - Kennametal Inc. (KMT) released a profit for its second quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $31.42 million, or $0.37 per share. This compares with $19.39 million, or $0.23 per share, in last year's second quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $29.22 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.5% to $486.67 million from $440.51 million last year.

Kennametal Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $31.42 Mln. vs. $19.39 Mln. last year. -EPS (Q2): $0.37 vs. $0.23 last year. -Analyst Estimate: $0.38 -Revenue (Q2): $486.67 Mln vs. $440.51 Mln last year.

-Guidance: Next quarter revenue guidance: $500 - $520 Mln