Kennametal (KMT) FY2020 results: revenue $1.9 billion, down 20.6% on the year
Kennametal Inc. (KMT) reported revenue of $1.9 billion for fiscal 2020, the year ended 30 June 2020, down 20.6% on the year before. Net income was -$6 million, and diluted earnings per share $-0.07. The figures are the company's own, from the 10-K it filed with the SEC on 20 August 2020.
Revenue
$1.9 billion
-20.6% on the year
FY2013FY2020
Operating margin
1.2%
13.8% a year earlier
FY2013FY2020
Net income
-$6 million
FY2013FY2020
Diluted EPS
-$0.07
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,885
2,375
2,368
-20.6%
Cost of revenue
1,356
1,544
1,548
-12.2%
Gross profit
529
831
820
-36.3%
Gross margin
28.1%
35.0%
34.6%
Research and development
38.7
39.0
38.9
-0.8%
Operating income
22.3
329
290
-93.2%
Operating margin
1.2%
13.8%
12.3%
Interest expense
35.2
33.0
30.1
+6.5%
Pre-tax income
2.0
311
275
-99.4%
Income tax
7.0
63.4
70.0
-88.9%
Effective tax rate
357.5%
20.4%
25.4%
Net income
-5.7
242
200
Net margin
-0.3%
10.2%
8.5%
Diluted EPS
-$0.07
$2.90
$2.42
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
224
301
277
-25.5%
Capital expenditure
244
212
171
+15.0%
Free cash flow
-20.4
88.2
106
Free cash flow margin
-1.1%
3.7%
4.5%
Cash from investing
-218
-201
-157
Cash from financing
425
-471
247
Depreciation and amortisation
120
112
109
+7.0%
Share-based compensation
16.0
22.8
20.8
-29.8%
Buybacks
0.2
0.2
0.2
-2.3%
Dividends paid
66.3
65.7
65.1
+0.8%
Dividend per share
$0.80
$0.80
$0.80
0.0%
Diluted shares, weighted
83m
83m
83m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,230
1,335
1,194
-7.9%
Non-controlling interest
38.9
39.5
36.0
-1.6%
Debt
594
592
992
+0.3%
Operating lease liabilities
35.4
0.0
n/a
Other liabilities
1,139
689
704
+65.3%
Total liabilities and equity
3,038
2,656
2,926
+14.4%
Fixed assets
1,038
935
824
+11.1%
Goodwill
271
300
302
-9.8%
Intangible assets
133
161
176
-17.7%
Cash and equivalents
607
182
556
+233.3%
Receivables
238
380
401
-37.3%
Inventory
522
572
525
-8.6%
Other assets
229
127
140
+80.5%
Total assets
3,038
2,656
2,926
+14.4%
10-K for the year ended 30 June 2020, filed 20 August 2020: the filing.