Kennametal (KMT) FY2019 results: revenue $2.4 billion, up 0.3% on the year
Kennametal Inc. (KMT) reported revenue of $2.4 billion for fiscal 2019, the year ended 30 June 2019, up 0.3% on the year before. Net income was $242 million, up 20.9%, and diluted earnings per share $2.90. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2019.
Revenue
$2.4 billion
+0.3% on the year
FY2012FY2019
Operating margin
13.8%
12.3% a year earlier
FY2012FY2019
Net income
$242 million
+20.9% on the year
FY2012FY2019
Diluted EPS
$2.90
+19.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,375
2,368
2,058
+0.3%
Cost of revenue
1,544
1,548
1,413
-0.3%
Gross profit
831
820
645
+1.4%
Gross margin
35.0%
34.6%
31.3%
Research and development
39.0
38.9
38.0
+0.3%
Operating income
329
290
94.8
+13.3%
Operating margin
13.8%
12.3%
4.6%
Interest expense
33.0
30.1
28.8
+9.7%
Pre-tax income
311
275
81.9
+13.2%
Income tax
63.4
70.0
29.9
-9.5%
Effective tax rate
20.4%
25.4%
36.5%
Net income
242
200
49.1
+20.9%
Net margin
10.2%
8.5%
2.4%
Diluted EPS
$2.90
$2.42
$0.61
+19.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
301
277
195
+8.4%
Capital expenditure
212
171
118
+24.2%
Free cash flow
88.2
106
77.3
-17.0%
Free cash flow margin
3.7%
4.5%
3.8%
Cash from investing
-201
-157
-113
Cash from financing
-471
247
-53.3
Depreciation and amortisation
112
109
108
+3.1%
Share-based compensation
22.8
20.8
21.1
+9.7%
Buybacks
0.2
0.2
0.2
-1.4%
Dividends paid
65.7
65.1
64.1
+1.0%
Dividend per share
$0.80
$0.80
$0.80
0.0%
Diluted shares, weighted
83m
83m
81m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,335
1,194
1,017
+11.8%
Non-controlling interest
39.5
36.0
35.4
+9.8%
Debt
592
992
695
-40.3%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
689
704
668
-2.1%
Total liabilities and equity
2,656
2,926
2,415
-9.2%
Fixed assets
935
824
744
+13.4%
Goodwill
300
302
301
-0.6%
Intangible assets
161
176
191
-8.8%
Cash and equivalents
182
556
191
-67.3%
Receivables
380
401
380
-5.3%
Inventory
572
525
488
+8.8%
Other assets
127
140
120
-9.6%
Total assets
2,656
2,926
2,415
-9.2%
10-K for the year ended 30 June 2019, filed 13 August 2019: the filing.