Every material Form 8-K Kennametal has filed with the SEC since February 14, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Kennametal reported fiscal 2027 first quarter sales of $768 million, up 54 percent from a year earlier, with operating income of $379 million and diluted EPS of $3.48 versus $0.30. The company raised its full-year fiscal 2027 adjusted EPS outlook to $5.00 to $6.00 and reiterated its sales outlook of $3.33 to $3.45 billion, but year-to-date free operating cash flow was negative $212 million.
Q1 sales of $768 million rose 54 percent, driven by higher Metal Cutting and Infrastructure volumes and raw material pricing timing.
Q1 operating income was $379 million, a 49.4 percent margin, versus $38 million a year earlier.
Full-year fiscal 2027 adjusted EPS outlook raised to $5.00 to $6.00; sales outlook reiterated at $3.33 to $3.45 billion.
Year-to-date operating cash flow was negative $201 million, mainly due to higher inventory values from tungsten price increases.
At its October 27, 2026 annual meeting, Kennametal shareowners elected nine directors to terms ending in 2027, ratified PricewaterhouseCoopers LLP as auditor for fiscal 2027, and approved executive compensation in an advisory vote. The same day, the board declared a quarterly cash dividend of $.20 per share.
All nine director nominees were elected; Joseph Alvarado received 59,961,025 votes for and 5,598,847 withheld, the lowest support of the group.
PricewaterhouseCoopers LLP was ratified as independent auditor for the fiscal year ending June 30, 2027, with 67,567,969 votes for and 2,190,188 against.
The advisory vote on executive compensation passed with 62,066,892 votes for and 3,313,172 against.
The $.20 quarterly dividend is payable November 23, 2026, to shareholders of record at the close of business on November 9, 2026.
Kennametal appointed Dawne Hickton and Richard Harshman as directors, effective September 1, 2026, with election proposed at the October 2026 annual shareholder meeting. The filing describes board additions rather than financial results, operations or a change in management.
Richard J. Harshman, 70, is the retired Executive Chairman and former CEO of ATI Inc.
Dawne Hickton, 68, is Chair and CEO of Cumberland Additive, Inc. and formerly led Jacobs' Critical Mission Solutions business.
Neither director will immediately serve on a Board committee; both are expected to join committees in the coming months.
Both will sign indemnification agreements with the company, and the filing reports no related-party transactions.
Kennametal reported fiscal fourth-quarter 2026 sales of $737 million, up 43% from a year earlier, with diluted EPS of $2.91 versus $0.28 and record adjusted EPS of $2.96. For fiscal 2026, diluted EPS was $4.42 versus $1.20, but operating cash flow was negative $4 million as working capital rose, including higher inventory from tungsten price increases. The company gave fiscal 2027 adjusted EPS guidance of $4.15 to $5.15 and sales guidance of $3.33 billion to $3.45 billion.
Q4 fiscal 2026 sales of $737 million rose 43%, with organic growth of 42%; Metal Cutting sales were $398 million and Infrastructure sales were $339 million
Fiscal 2026 diluted EPS was $4.42 and adjusted EPS was a record $4.57; free operating cash flow was negative $79 million versus positive $121 million a year earlier
Fiscal 2027 outlook: first-quarter adjusted EPS of $2.50 to $2.80 and annual adjusted EPS of $4.15 to $5.15; quarterly dividend of $0.20 per share payable August 25, 2026
Kennametal's Board said Chairman William Lambert will retire from the Board, including his Chairman role, at the conclusion of the October 27, 2026 annual shareholder meeting. The Board has appointed director Joseph Alvarado as his successor, effective October 28, 2026.
Lambert has served on the Board since March 2016 and as Chairman since October 2023.
Alvarado becomes incoming Chairman effective October 28, 2026.
Alvarado has been a director since 2018 and has chaired the Nominating/Corporate Governance Committee since 2023.
Alvarado is the retired Chairman, President and CEO of Commercial Metals Company.
Kennametal appointed Amanda Cole as Vice President and Chief Human Resources Officer, effective July 21, 2026, succeeding Judith Bacchus, who will retire on or about October 1, 2026. Cole is joining from Wesco International, where she served as a human resources vice president, and her compensation includes a $375,000 base salary and a $300,000 special long-term incentive grant.
Amanda Cole starts as Vice President and Chief Human Resources Officer on July 21, 2026, reporting to CEO Sanjay Chowbey.
Judith Bacchus, who has held the HR role since June 1, 2011, will remain as Vice President and Chief Administrative Officer until she retires on or about October 1, 2026.
Cole receives a $375,000 annual base salary, a $58,000 sign-on bonus, and a $300,000 special RSU grant on August 1, 2026, with a fiscal 2027 target bonus of 50% of base salary.
On May 28, 2026, Kennametal signed a $500 million unsecured delayed draw term loan and amended its revolving credit agreement, raising total commitments by $200 million to $850 million. The new term loan adds debt that the company may draw in up to three draws through September 30, 2026, and the revolver matures November 17, 2030.
$500 million unsecured delayed draw term loan dated May 28, 2026, maturing three years after the initial borrowing
Revolving commitments increased by $200 million, from $650 million to $850 million, with a maturity of November 17, 2030
Both agreements require a maximum Consolidated Leverage Ratio of 3.75:1 on a rolling four-quarter basis
Kennametal completed a $300 million sale of 5.800% senior notes due May 28, 2036, with net proceeds of about $295.9 million. The company plans to use the proceeds to fund its concurrent tender offer for its 4.625% senior notes due 2028, with any excess used for general corporate purposes.
Notes: $300,000,000 aggregate principal, 5.800% coupon, due May 28, 2036
Estimated net proceeds of approximately $295,932,716 after underwriters' discount and offering expenses
Proceeds earmarked to buy 2028 Notes tendered in a concurrent tender offer; excess may repay other debt
Underwriters include BofA Securities, BNP Paribas Securities and PNC Capital Markets, under an agreement dated May 19, 2026
Kennametal reported fiscal 2026 third-quarter sales of $593 million, up 22% from a year earlier, and diluted EPS of $0.75 versus $0.41. The company raised its full-year sales and adjusted EPS outlook, citing the unprecedented rise in tungsten pricing and stronger volume, but year-to-date operating cash flow fell to $70 million from $130 million, mainly due to higher inventory.
Q3 sales of $593 million rose 22% (19% organic); operating income was $79 million, a 13.4% margin, versus $44 million a year earlier
Diluted EPS was $0.75 versus $0.41; adjusted EPS was $0.77 versus $0.47 in the prior-year quarter
Full-year fiscal 2026 outlook raised: sales of $2.33 to $2.35 billion and adjusted EPS of $3.75 to $4.00
Nine-month free operating cash flow was $18 million versus $63 million; quarterly dividend of $0.20 per share is payable May 26, 2026
Kennametal reported fiscal 2026 second-quarter sales of $530 million, up 10 percent, and GAAP diluted EPS of $0.44 versus $0.23 a year earlier. The company raised its annual sales and adjusted EPS outlook, with annual adjusted EPS now expected at $2.05 to $2.45, though year-to-date operating cash flow and free operating cash flow declined.
Q2 sales $530 million vs $482 million prior year; operating income $53 million vs $32 million
Diluted EPS $0.44 vs $0.23; adjusted EPS $0.47 vs $0.25 prior year
Annual outlook: sales $2.190 to $2.250 billion; adjusted EPS $2.05 to $2.45
Six-month operating cash flow $73 million vs $101 million; free operating cash flow $38 million vs $57 million
Kennametal and its subsidiary Kennametal Europe GmbH entered into a $650 million unsecured five-year revolving credit agreement on November 17, 2025, replacing the company's prior credit agreement dated June 14, 2022. The new facility can be increased by up to $300 million at the company's request, and it includes a maximum consolidated leverage ratio covenant of 3.75:1.
Facility size: $650 million, unsecured, with a termination date of November 17, 2030
Replaces the Sixth Amended and Restated Credit Agreement dated June 14, 2022
Optional increase of up to $300 million, subject to lender agreement or adding lenders
Financial covenant requires a maximum Consolidated Leverage Ratio of 3.75:1 on a rolling four-quarter basis
Kennametal reported fiscal 2026 first-quarter sales of $498 million, up 3% from a year earlier, and adjusted EPS of $0.34, up 18%. The company raised its annual sales and adjusted EPS outlook, but free operating cash flow was negative $5 million, down from positive $21 million a year earlier, mainly due to higher inventory.
Sales of $498 million rose 3% (organic growth 3%); operating income was $38 million, a 7.5% margin
Diluted EPS was $0.30, up 8%; adjusted EPS was $0.34, up 18%
Full-year outlook: sales of $2.10 billion to $2.17 billion and adjusted EPS of $1.35 to $1.65
Free operating cash flow was negative $5 million, versus positive $21 million in the prior-year quarter
Kennametal reported fiscal fourth-quarter 2025 sales of $516 million, down 5% from $543 million, and diluted EPS of $0.28 versus $0.47 a year earlier. For fiscal 2025, diluted EPS was $1.20 versus $1.37, and the company expects fiscal 2026 adjusted EPS of $0.90 to $1.30, compared with fiscal 2025 adjusted EPS of $1.34, while it continues restructuring and footprint consolidation.
Q4 sales of $516 million, down 5% from $543 million; adjusted EPS of $0.34 versus $0.49
FY25 diluted EPS of $1.20 versus $1.37; adjusted EPS of $1.34 versus $1.50
FY26 outlook: sales of $1.95 to $2.05 billion and adjusted EPS of $0.90 to $1.30
Quarterly dividend of $0.20 per share declared, payable August 26, 2025
Kennametal director Steven H. Wunning, who has served on the Board since 2005 and chairs the Audit Committee, notified the company on July 27, 2025 that he will not stand for re-election and will retire at the October 2025 Annual Meeting of Shareowners. The Board also declared a quarterly cash dividend of $.20 per share, payable August 26, 2025 to holders of record on August 12, 2025.
Steven H. Wunning gave notice on July 27, 2025 that he will not run for re-election to the Board.
He will retire from the Board at the end of the Annual Meeting of Shareowners in October 2025.
Wunning has been a director since 2005 and is Chairman of the Audit Committee.
Quarterly cash dividend of $.20 per share declared July 29, 2025; payable August 26, 2025 to holders of record August 12, 2025.
Kennametal reported fiscal 2025 third-quarter results for the period ended March 31, 2025. Sales fell 6% to $486 million, while adjusted EPS rose to $0.47 from $0.30, helped by an approximately $10 million advanced manufacturing production credit under the Inflation Reduction Act. The company updated its full-year outlook, now expecting sales of $1.970 billion to $1.990 billion and adjusted EPS of $1.30 to $1.45.
Diluted EPS was $0.41 versus $0.24, and adjusted EPS was $0.47 versus $0.30, in the prior year quarter.
Sales of $486 million decreased 6% from $516 million, with an organic sales decline of 3%.
The quarter includes an approximately $10 million Inflation Reduction Act production credit within the Infrastructure segment.
Full-year fiscal 2025 outlook: sales of $1.970 billion to $1.990 billion and adjusted EPS of $1.30 to $1.45; quarterly dividend of $0.20 per share payable May 27, 2025.
Kennametal appointed Shelley Bausch, a recently retired Axalta president, to its Board of Directors effective May 1, 2025, and she will join the Audit Committee. Director Cindy Davis, who has served since 2012 and chairs the Compensation and Human Capital Committee, will retire from the Board on September 1, 2025. The filing does not name a successor to Davis as committee chair.
Bausch serves from May 1, 2025 until the October 2025 annual meeting, where she is proposed for election, and will sit on the Audit Committee.
Davis has been on the Board since 2012 and chairs the Compensation and Human Capital Committee; she retires September 1, 2025.
Bausch was President, Global Industrial Coatings at Axalta and previously spent 25 years at Dow Corning.
Kennametal entered a separation agreement with Franklin Cardenas on February 12, 2025, following his departure from the company, as previously reported in a January 15, 2025 filing. The agreement includes a general release of claims, restrictive covenants, and specified severance-related benefits such as a fiscal 2025 annual incentive payment at actual performance and continued equity vesting through August 15, 2025. The filing does not state his title or any financial amounts, so the direct financial effect on shareholders is not quantified.
Separation agreement dated February 12, 2025, with Franklin Cardenas, filed as Exhibit 10.1
Fiscal 2025 annual incentive payment at actual Company performance
Twelve months of health insurance subsidy and continued vesting of long-term incentive awards through August 15, 2025
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