Here's Why Kennametal Stock Soared Today
Shares in metal cutting and tools company (NYSE: KMT) rose by as much as 14.4% by 11 a.m. this morning. The move came after the company released upbeat second-quarter earnings. Here's the lowdown.
The company generates 46% of its revenue from the general engineering end market, and then mid-teens percentages from transportation, aerospace defense, energy, and earthworks, respectively. Given that kind of exposure and the general weakness in the industrial sector, it's understandable if investors might have had low expectations going into the earnings. After all, industrial companies like 3M have given relatively modest guidance for 2026.
That said, the company's sales and earnings growth came in above management's outlook, with CEO Sanjay Chowbey noting that the 10% year-over-year sales growth in the quarter was "better than expected on higher sales volume" during the earnings call.
Source Fool.com
