$KMT

KENNAMETAL INC

CIK:0000055242|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Sales	$ 2,356,698	$ 1,966,845	$ 2,046,899
Cost of goods sold	1,386,742	1,368,775	1,419,806
Gross profit	969,956	598,070	627,093
Operating expense	478,993	430,835	433,161
Restructuring and other charges, net (Note 16)	8,909	11,813	12,152
Loss on divestiture	0	1,512	0
Amortization of intangibles	9,522	10,787	11,557
Operating income	472,532	143,123	170,223
Interest expense	28,561	24,930	26,472
Other income, net	(17,358)	(13,811)	(699)
Income before income taxes	461,329	132,004	144,450
Provision for income taxes (Note 13)	110,915	33,296	30,809
Net income	350,414	98,708	113,641
Less: Net income attributable to noncontrolling interests	8,025	5,583	4,318
Net income attributable to Kennametal	$ 342,389	$ 93,125	$ 109,323
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings per share (in dollars per share)	$ 4.49	$ 1.21	$ 1.38
Diluted earnings per share (in dollars per share)	$ 4.42	$ 1.20	$ 1.37
Basic weighted average shares outstanding (in shares)	76,215	77,264	79,390
Diluted weighted average shares outstanding (in shares)	77,424	77,894	79,965

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
OPERATING ACTIVITIES
Net income	$ 350,414	$ 98,708	$ 113,641
Adjustments to reconcile to cash from operations:
Depreciation	133,633	125,709	123,130
Amortization	9,522	10,787	11,557
Stock-based compensation expense	34,851	22,115	24,340
Restructuring and other charges, net	8,909	11,813	12,152
Deferred income taxes	44,686	(13,084)	(8,017)
Gain on insurance recoveries	(3,400)	(12,100)	0
Loss on divestiture	0	1,512	0
Debt refinancing charge (Note 11)	1,261	0	0
Other	10,648	2,048	1,405
Changes in certain assets and liabilities:
Accounts receivable	(116,866)	9,068	(2,624)
Inventories	(593,396)	(17,396)	36,835
Other current assets	(102,093)	2,002	(2,702)
Accounts payable and accrued liabilities	226,097	(6,157)	(6,086)
Accrued income taxes	11,006	(12,267)	(16,219)
Accrued pension and postretirement benefits	(7,051)	(7,393)	(9,481)
Other	(12,229)	(7,041)	(823)
Net cash flow (used for) provided by operating activities	(4,008)	208,324	277,108
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(76,905)	(88,971)	(107,561)
Disposals of property, plant and equipment	1,775	1,841	5,425
Proceeds from divestiture	0	18,689	0
Proceeds from insurance recoveries	3,400	11,793	0
Business acquisitions	0	0	(4,010)
Other	435	(5,177)	(3,280)
Net cash flow used for investing activities	(71,295)	(61,825)	(109,426)
FINANCING ACTIVITIES
Net increase (decrease) in notes payable	11,293	(459)	714
Net increase in revolving and other lines of credit	20,000	0	0
Term debt borrowings	296,994	0	0
Term debt repayments	(209,387)	0	0
Purchase of capital stock	(10,106)	(60,120)	(65,574)
The effect of employee benefit and stock plans and dividend reinvestment	(8,086)	(7,059)	(9,982)
Cash dividends paid to Shareholders	(60,847)	(61,852)	(63,431)
Other	(8,227)	(4,429)	(3,474)
Net cash flow provided by (used for) financing activities	31,634	(133,919)	(141,747)
Effect of exchange rate changes on cash and cash equivalents	(1,080)	(11)	(3,985)
CASH AND CASH EQUIVALENTS
Net (decrease) increase in cash and cash equivalents	(44,749)	12,569	21,950
Cash and cash equivalents, beginning of year	140,540	127,971	106,021
Cash and cash equivalents, end of year	$ 95,791	$ 140,540	$ 127,971

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 95,791	$ 140,540
Accounts receivable, less allowance for doubtful accounts of $8,812 and $8,819 respectively	408,438	295,401
Inventories (Note 7)	1,108,450	538,237
Other current assets	159,092	65,092
Total current assets	1,771,771	1,039,270
Property, plant and equipment:
Land and buildings	439,537	440,187
Machinery and equipment	2,014,787	2,058,497
Less accumulated depreciation	(1,610,740)	(1,578,770)
Property, plant and equipment, net	843,584	919,914
Other assets:
Goodwill (Note 8)	279,213	282,726
Other intangible assets, less accumulated amortization of $181,878 and $175,501, respectively (Note 8)	55,886	67,209
Operating lease right-of-use assets (Note 9)	45,803	45,221
Deferred income taxes (Note 13)	41,280	90,473
Long-term prepaid pension benefit (Note 14)	87,268	75,062
Other	41,947	25,537
Total other assets	551,397	586,228
Total assets	3,166,752	2,545,412
Current liabilities:
Revolving and other lines of credit and notes payable (Note 12)	32,170	977
Current operating lease liabilities (Note 9)	11,718	12,187
Accounts payable	369,841	195,929
Accrued income taxes	15,967	8,546
Accrued vacation pay	13,121	12,123
Accrued payroll	54,803	43,461
Other current liabilities (Note 10)	179,088	149,106
Total current liabilities	676,708	422,329
Long-term debt, less current maturities (Note 11)	685,280	596,788
Operating lease liabilities (Note 9)	34,538	33,408
Deferred income taxes (Note 13)	31,016	32,609
Accrued postretirement benefits (Note 14)	5,323	5,752
Accrued pension benefits (Note 14)	96,726	106,963
Accrued income taxes	2,578	1,936
Other liabilities	21,146	20,979
Total liabilities	1,553,315	1,220,764
Commitments and contingencies (Note 20)
Kennametal Shareholders’ Equity:
Preferred stock, no par value; 5,000 shares authorized; none issued	0	0
Capital stock, $1.25 par value; 120,000 shares authorized; 76,213 and 76,012 shares issued, respectively	95,267	95,015
Additional paid-in capital	390,310	373,902
Retained earnings	1,483,297	1,201,755
Accumulated other comprehensive loss (Note 15)	(399,030)	(386,693)
Total Kennametal Shareholders’ Equity	1,569,844	1,283,979
Noncontrolling interests	43,593	40,669
Total equity	1,613,437	1,324,648
Total liabilities and equity	$ 3,166,752	$ 2,545,412