Kennametal Inc. reported fiscal 2025 third quarter results with sales of $486 million, a 6 percent decrease from $516 million in the prior year quarter, reflecting a 3 percent organic sales decline and a 3 percent unfavorable currency effect. Diluted earnings per share (EPS) were $0.41, up from $0.24 in the prior year, while adjusted EPS was $0.47 compared to $0.30.
The current quarter's pre-tax results included a benefit of approximately $10 million from an advanced manufacturing production credit under the Inflation Reduction Act, which primarily contributed to the adjusted EPS exceeding the upper end of the company's outlook. Operating income increased to $44 million, or a 9.1 percent margin, from $35 million or a 6.8 percent margin in the prior year.
The company achieved incremental year-over-year restructuring savings of approximately $6 million, with actions announced in January 2025 expected to deliver $15 million in annualized run rate pre-tax savings by the end of fiscal 2025. Kennametal updated its full fiscal year 2025 sales outlook to between $1.97 billion and $1.99 billion, and declared a quarterly cash dividend of $0.20 per share.
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