Kennametal (KMT) FY2018 results: revenue $2.4 billion, up 15.0% on the year
Kennametal Inc. (KMT) reported revenue of $2.4 billion for fiscal 2018, the year ended 30 June 2018, up 15.0% on the year before. Net income was $200 million, up 307.4%, and diluted earnings per share $2.42. The figures are the company's own, from the 10-K it filed with the SEC on 10 August 2018.
Revenue
$2.4 billion
+15.0% on the year
FY2011FY2018
Operating margin
12.3%
4.6% a year earlier
FY2011FY2018
Net income
$200 million
+307.4% on the year
FY2011FY2018
Diluted EPS
$2.42
+296.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,368
2,058
2,098
+15.0%
Cost of revenue
1,548
1,413
1,482
+9.5%
Gross profit
820
645
616
+27.2%
Gross margin
34.6%
31.3%
29.4%
Research and development
38.9
38.0
39.4
+2.4%
Operating income
290
94.8
-175
+206.4%
Operating margin
12.3%
4.6%
-8.3%
Interest expense
30.1
28.8
27.8
+4.3%
Pre-tax income
275
81.9
-199
+235.9%
Income tax
70.0
29.9
25.3
+134.1%
Effective tax rate
25.4%
36.5%
n/a
Net income
200
49.1
-226
+307.4%
Net margin
8.5%
2.4%
-10.8%
Diluted EPS
$2.42
$0.61
-$2.83
+296.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
277
195
222
+42.0%
Capital expenditure
171
118
111
+44.9%
Free cash flow
106
77.3
112
+37.5%
Free cash flow margin
4.5%
3.8%
5.3%
Cash from investing
-157
-113
-47.9
Cash from financing
247
-53.3
-114
Depreciation and amortisation
109
108
117
+1.0%
Share-based compensation
20.8
21.1
18.1
-1.1%
Buybacks
0.2
0.2
0.3
-10.0%
Dividends paid
65.1
64.1
63.7
+1.5%
Dividend per share
$0.80
$0.80
$0.80
0.0%
Diluted shares, weighted
83m
81m
80m
+2.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,194
1,017
964
+17.4%
Non-controlling interest
36.0
35.4
31.5
+1.8%
Debt
992
695
694
+42.7%
Other liabilities
704
668
673
+5.4%
Total liabilities and equity
2,926
2,415
2,363
+21.1%
Fixed assets
824
744
731
+10.7%
Goodwill
302
301
298
+0.1%
Intangible assets
176
191
207
-7.4%
Cash and equivalents
556
191
162
+191.7%
Receivables
401
380
371
+5.5%
Inventory
525
488
459
+7.7%
Other assets
140
120
135
+16.5%
Total assets
2,926
2,415
2,363
+21.1%
10-K for the year ended 30 June 2018, filed 10 August 2018: the filing.