Kennametal sees FY24 adjusted EPS $1.40-$1.55, consensus $1.48

Sees FY24 revenue $2.03B-$2.05B, consensus $2.05B. Sees FY24 capital spending $100M-$110M. Rossi continued, “We have tightened our full year outlook to align with current market conditions. As always, we remain focused on the things we can control, including driving share gain and productivity. We are expecting to deliver approximately $35 million in annualized savings in fiscal 2024, which is excellent progress toward our $100 million productivity target by the end of fiscal 2027. Finally, as I prepare to leave Kennametal at the end of this month, I am confident that my successor, Sanjay Chowbey, and his leadership team will continue to pursue above-market growth and margin expansion while deploying a balanced capital allocation strategy.”