Kennametal (KMT) FY2026 results: revenue $2.4 billion, up 19.8% on the year
Kennametal Inc. (KMT) reported revenue of $2.4 billion for fiscal 2026, the year ended 30 June 2026, up 19.8% on the year before. Net income was $342 million, up 267.7%, and diluted earnings per share $4.42. The figures are the company's own, from the 10-K it filed with the SEC on 12 August 2026.
Revenue
$2.4 billion
+19.8% on the year
FY2019FY2026
Operating margin
20.1%
7.3% a year earlier
FY2019FY2026
Net income
$342 million
+267.7% on the year
FY2019FY2026
Diluted EPS
$4.42
+268.3% on the year
FY2019FY2026
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 6 new.
Fourth-quarter sales reached $737 million: Sales rose 43 percent reported and 42 percent organic. Currency and business days each added 1 percent; divestitures subtracted 1 percent.
Fourth-quarter operating margin rose sharply: Operating income was $303 million, against $31 million a year earlier at a 6.1 percent margin. Adjusted operating margin was 41.5 percent.
Infrastructure sales reached $339 million: Sales rose 73 percent, with organic growth of 74 percent. A 3 percent divestiture effect reduced the reported growth rate.
Raw material pricing timing lifted margin: Favorable timing of raw material-related pricing, against about $252 million of raw material costs, was the first driver listed for the fourth-quarter operating income increase.
Volume trends improving in several markets: Management said it is encouraged by what it has seen across several end markets, expecting improving conditions and strategic initiatives to keep sales growing through fiscal 2027.
$ 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
FY2026
FY2025
FY2024
On the year
Last 8 years
Operating cash flow
-4.0
208
277
Capital expenditure
76.9
89.0
108
-13.6%
Free cash flow
-80.9
119
170
Free cash flow margin
-3.4%
6.1%
8.3%
Cash from investing
-71.3
-61.8
-109
Cash from financing
31.6
-134
-142
Depreciation and amortisation
143
136
135
+4.9%
Share-based compensation
34.9
22.1
24.3
+57.6%
Buybacks
10.1
60.1
65.6
-83.2%
Dividends paid
60.8
61.9
63.4
-1.6%
Dividend per share
$0.80
$0.80
$0.80
0.0%
Diluted shares, weighted
77m
78m
80m
-0.6%
Balance sheet
$ million
FY2026
FY2025
FY2024
On the year
Last 8 years
Shareholders' equity
1,570
1,284
1,250
+22.3%
Non-controlling interest
43.6
40.7
38.7
+7.2%
Debt
717
597
596
+20.2%
Operating lease liabilities
34.5
33.4
35.6
+3.4%
Other liabilities
801
591
584
+35.7%
Total liabilities and equity
3,167
2,545
2,504
+24.4%
Fixed assets
844
920
938
-8.3%
Goodwill
279
283
272
-1.2%
Intangible assets
55.9
67.2
81.4
-16.8%
Cash and equivalents
95.8
141
128
-31.8%
Receivables
408
295
303
+38.3%
Inventory
1,108
538
515
+105.9%
Other assets
375
301
267
+24.6%
Total assets
3,167
2,545
2,504
+24.4%
10-K for the year ended 30 June 2026, filed 12 August 2026: the filing.