Kennametal (KMT) Q1 FY2027 earnings: revenue $768 million, up 54.3% on the year

Kennametal Inc. (KMT) reported revenue of $768 million for Q1 FY2027, the quarter ended 30 September 2026, up 54.3% on the same quarter a year earlier. Net income was $272 million, up 1065.7% on the year, and diluted earnings per share $3.48. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$768 million

+54.3% on the year · +4.3% on the quarter

Q2 FY2025Q1 FY2027

Operating margin

49.4%

7.5% a year earlier

Q2 FY2025Q1 FY2027

Net income

$272 million

+1,065.7% on the year · +19.7% on the quarter

Q2 FY2025Q1 FY2027

Diluted EPS

$3.48

+1,060.0% on the year · +19.6% on the quarter

Q2 FY2025Q1 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 3 new, 3 kept.

Sales rose 54 percent, organic too: Sales were $768 million, up from $498 million a year earlier. Organic growth matched reported growth, both at 54 percent.
Operating income margin reached 49.4 percent: Operating income was $379 million, against $38 million a year earlier. Restructuring and other charges, net, were $5.4 million.
Record first-quarter diluted EPS: Diluted EPS was $3.48 against $0.30 a year earlier, on 78.1 million diluted weighted average shares. Basic EPS was $3.55.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Revenue	768	737	498	+4.3%	+54.3%
Cost of revenue	255	303	343	-16.0%	-25.9%
Gross profit	514	434	155	+18.5%	+232.3%
Gross margin	66.9%	58.9%	31.0%
Selling, general and administrative	127	126	113	+1.0%	+12.2%
Operating income	379	303	37.6	+25.2%	+909.7%
Operating margin	49.4%	41.1%	7.5%
Interest expense	11.5	10.0	6.2	+14.5%	+85.5%
Pre-tax income	357	299	33.7	+19.2%	+958.7%
Income tax	82.3	69.8	9.1	+17.9%	+807.5%
Effective tax rate	23.1%	23.3%	26.9%
Net income	272	227	23.3	+19.7%	+1,065.7%
Net margin	35.4%	30.8%	4.7%
Diluted EPS	$3.48	$2.91	$0.30	+19.6%	+1,060.0%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Operating cash flow	-201	-73.7	17.5
Capital expenditure	10.8	23.2	23.0	-53.5%	-53.0%
Free cash flow	-212	-96.9	-5.5
Free cash flow margin	-27.6%	-13.2%	-1.1%
Cash from investing	-13.3	-19.7	-22.7
Cash from financing	391	81.8	-31.1	+378.2%
Depreciation and amortisation	33.8	35.6	35.0	-5.0%	-3.5%
Share-based compensation	10.9	8.8	8.2	+23.1%	+32.0%
Buybacks	0.0	0.0	10.0	0.0%	-99.6%
Dividends paid	15.2	15.2	15.1	0.0%	+0.7%
Dividend per share	$0.20	n/a	$0.20		0.0%
Diluted shares, weighted	78m	78m	77m	+0.2%	+1.7%
Shares outstanding at period end	77m	76m	76m	+1.1%	+1.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Shareholders' equity	1,823	1,570	1,284	+16.1%	+42.0%
Non-controlling interest	44.9	43.6	41.4	+2.9%	+8.4%
Debt	1,134	717	597	+58.1%	+90.0%
Operating lease liabilities	33.2	34.5	31.0	-4.0%	+7.0%
Other liabilities	845	801	565	+5.5%	+49.5%
Total liabilities and equity	3,880	3,167	2,519	+22.5%	+54.0%
Fixed assets	820	844	898	-2.8%	-8.7%
Goodwill	278	279	283	-0.3%	-1.5%
Intangible assets	53.0	55.9	64.9	-5.2%	-18.3%
Cash and equivalents	273	95.8	103	+184.7%	+163.5%
Receivables	430	408	288	+5.2%	+49.3%
Inventory	1,616	1,108	565	+45.8%	+185.9%
Other assets	410	375	317	+9.3%	+29.5%
Total assets	3,880	3,167	2,519	+22.5%	+54.0%

Questions

What was Kennametal's revenue in Q1 FY2027?

Kennametal (KMT) reported revenue of $768 million for Q1 FY2027, the quarter ended 30 September 2026, up 54.3% on the same quarter a year earlier.

How much did Kennametal earn in Q1 FY2027?

Net income for Q1 FY2027 was $272 million, up 1065.7% on the year, and diluted earnings per share $3.48.

When did Kennametal report Q1 FY2027 results?

Kennametal filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	487	512	530	495	497	536	550	492	495	516	543	482	482	486	516	498	530	593	737	768
Cost of revenue	334	348	360	335	354	368	375	330	356	363	372	331	337	330	371	343	356	385	303	255
Gross profit	153	165	170	160	143	168	176	163	140	153	171	151	145	156	146	155	174	208	434	514
Gross margin	31%	32%	32%	32%	29%	31%	32%	33%	28%	30%	32%	31%	30%	32%	28%	31%	33%	35%	59%	67%
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	112	109	104	106	113	116	124	126	127
Operating income	47.5	53.4	62.7	48.5	35.5	52.5	55.9	45.1	28.5	35.2	61.4	36.0	31.7	44.1	31.4	37.6	52.7	79.4	303	379
Operating margin	10%	10%	12%	10%	7%	10%	10%	9%	6%	7%	11%	7%	7%	9%	6%	8%	10%	13%	41%	49%
Interest expense	6.5	6.4	6.7	6.6	7.0	7.7	7.1	6.6	6.8	6.8	6.2	6.3	6.2	6.2	6.2	6.2	6.1	6.3	10.0	11.5
Pre-tax income	44.2	51.5	59.3	40.9	27.9	43.7	47.1	38.4	22.3	28.5	55.2	31.4	27.0	43.3	30.4	33.7	48.7	79.7	299	357
Tax rate	26%	28%	28%	28%	18%	24%	20%	21%	-9%	27%	31%	25%	29%	24%	24%	27%	28%	23%	23%	23%
Net income	31.4	35.3	41.7	28.2	21.9	31.9	36.4	30.1	23.1	19.0	37.2	22.1	17.9	31.5	21.6	23.3	33.9	58.2	227	272
Net margin	6%	7%	8%	6%	4%	6%	7%	6%	5%	4%	7%	5%	4%	6%	4%	5%	6%	10%	31%	35%
Diluted EPS	$0.37	$0.42	$0.50	$0.34	$0.27	$0.39	$0.45	$0.37	$0.29	$0.24	$0.47	$0.28	$0.23	$0.41	$0.28	$0.30	$0.44	$0.75	$2.91	$3.48
Operating cash flow	42.0	35.2	88.4	-10.7	63.3	73.7	132	25.7	62.6	75.2	114	45.7	55.2	28.8	78.6	17.5	55.1	-2.9	-73.7	-201
Capital expenditure	19.9	22.4	36.8	29.5	21.1	20.5	23.3	31.8	25.7	26.8	23.3	24.7	19.2	23.5	21.5	23.0	12.7	18.0	23.2	10.8
Free cash flow	22.1	12.8	51.6	-40.2	42.1	53.2	108	-6.1	36.9	48.4	90.3	21.0	35.9	5.3	57.1	-5.5	42.4	-20.9	-96.9	-212
Buybacks	22.6	15.0	35.0	19.4	10.7	7.5	11.7	13.7	15.0	15.0	21.8	15.0	15.0	25.0	5.0	10.0	0.0	0.0	0.0	0.0
Dividends paid	16.7	16.6	16.5	16.3	16.1	16.1	16.1	15.9	15.9	15.9	15.7	15.6	15.6	15.5	15.2	15.1	15.2	15.2	15.2	15.2
Shares outstanding	83m	83m	81m	81m	81m	80m	80m	80m	79m	79m	78m	78m	77m	76m	76m	76m	76m	76m	76m	77m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.