Kennametal Inc. (NYSE:KMT) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
Kennametal Inc. (NYSE:KMT) Files An 8-K Results of Operations and Financial Condition
On May 6, 2019, Kennametal Inc. (Kennametal or the Company) issued an earnings announcement for its fiscal 2019>third>quarter ended March 31, 2019. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 2.02.
The earnings announcement issued on May 6, 2019>is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section unless the Company specifically incorporates it by reference in a document filed under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
Item 2.05 Costs Associated with Exit or Disposal Activities.
As disclosed in the press release attached hereto as Exhibit 99.1, on May 6, 2019, Kennametal also announced details of the next phase of restructuring actions associated with simplification/modernization. These actions are expected to reduce structural costs and are currently estimated to achieve $35 million to $40 million of annualized savings by the end of fiscal 2020. The Company is expected to incur pre-tax charges of $55 million to $65 million through fiscal 2019 and 2020 for these restructuring activities, which are anticipated to be primarily cash expenditures.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Fiscal 2019 Third Quarter Earnings Announcement
KENNAMETAL INC Exhibit
EX-99.1 2 kmt3312019exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASE:DATE: May 6,…
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EX-99.1 2 kmt3312019exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASE:DATE: May 6,…
To view the full exhibit click
here
About Kennametal Inc. (NYSE:KMT)
Kennametal Inc. is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense. The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors supporting primary industries, such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. It provides wear-resistant products, application engineering and services backed by material science serving customers across various sectors. The Company’s product offerings include a selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as materials, such as cemented tungsten carbide products and super alloys.