Kennametal Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Kennametal Inc. (KMT) revealed earnings for its first quarter that climbed from the same period last year.

The company's earnings came in at $56.70 million, or $0.68 per share. This compares with $39.18 million, or $0.48 per share, in last year's first quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $58.47 million or $0.70 per share for the period.

Analysts had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.2% to $586.69 million from $542.45 million last year.

Kennametal Inc. earnings at a glance:

-Earnings (Q1): $58.47 Mln. vs. $45.56 Mln. last year. -EPS (Q1): $0.70 vs. $0.55 last year. -Analysts Estimate: $0.65 -Revenue (Q1): $586.69 Mln vs. $542.45 Mln last year.

-Guidance: Full year EPS guidance: $2.90 to $3.20