2024 Q3 Form 10-K Financial Statement

#000005524224000055 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $481.9M $543.3M $2.047B
YoY Change -2.14% -1.26% -1.51%
Cost Of Revenue $330.9M $372.0M $1.420B
YoY Change 0.41% -0.69% -0.83%
Gross Profit $151.0M $171.3M $627.1M
YoY Change -7.3% -2.46% -2.99%
Gross Profit Margin 31.33% 31.54% 30.64%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $11.10M $10.90M $44.20M
YoY Change 0.91% 3.81% 2.55%
% of Gross Profit 7.35% 6.36% 7.05%
Depreciation & Amortization $30.84M $2.883M $11.56M
YoY Change 1.24% -8.42% -8.45%
% of Gross Profit 20.42% 1.68% 1.84%
Operating Expenses $111.7M $108.4M $444.7M
YoY Change 0.0% -4.21% -1.16%
Operating Profit $36.03M $62.97M $182.4M
YoY Change -20.15% 0.69% -7.2%
Interest Expense -$6.312M -$6.247M -$26.47M
YoY Change -195.62% -11.98% -7.1%
% of Operating Profit -17.52% -9.92% -14.52%
Other Income/Expense, Net $1.657M $25.00K $699.0K
YoY Change -1961.8% -101.46% -116.26%
Pretax Income $31.37M $55.18M $144.5M
YoY Change -18.36% 17.11% -9.5%
Income Tax $7.906M $16.94M $30.81M
% Of Pretax Income 25.2% 30.71% 21.33%
Net Earnings $22.12M $37.18M $109.3M
YoY Change -26.4% 2.07% -7.71%
Net Earnings / Revenue 4.59% 6.84% 5.34%
Basic Earnings Per Share $0.28 $1.38
Diluted Earnings Per Share $0.28 $0.47 $1.37
COMMON SHARES
Basic Shares Outstanding 77.90M shares 78.67M shares 79.39M shares
Diluted Shares Outstanding 78.66M shares 79.97M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.6M $128.0M $128.0M
YoY Change 25.75% 20.7% 20.7%
Cash & Equivalents $119.6M $128.0M $128.0M
Short-Term Investments
Other Short-Term Assets $58.39M $57.18M $57.18M
YoY Change 3.42% 2.43% 2.43%
Inventory $543.4M $514.6M $514.6M
Prepaid Expenses
Receivables $282.5M $302.8M $302.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.004B $1.003B $1.003B
YoY Change -0.66% -2.36% -2.36%
LONG-TERM ASSETS
Property, Plant & Equipment $942.1M $938.1M $938.1M
YoY Change -1.68% -3.2% -3.2%
Goodwill $277.3M $271.6M
YoY Change 4.04% 0.75%
Intangibles $79.28M $81.42M
YoY Change -11.74% -12.6%
Long-Term Investments
YoY Change
Other Assets $87.10M $210.1M $210.1M
YoY Change 8.73% 11.37% 11.37%
Total Long-Term Assets $1.518B $1.501B $1.501B
YoY Change 1.06% -1.27% -1.27%
TOTAL ASSETS
Total Short-Term Assets $1.004B $1.003B $1.003B
Total Long-Term Assets $1.518B $1.501B $1.501B
Total Assets $2.522B $2.504B $2.504B
YoY Change 0.36% -1.71% -1.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.9M $191.5M $191.5M
YoY Change 2.3% -5.8% -5.8%
Accrued Expenses $43.66M $135.5M $135.5M
YoY Change 3.49% 102.22% -2.6%
Deferred Revenue
YoY Change
Short-Term Debt $1.426M $1.377M $1.377M
YoY Change -95.43% 99.85% 99.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $398.4M $416.0M $416.0M
YoY Change -5.11% -4.15% -4.15%
LONG-TERM LIABILITIES
Long-Term Debt $596.2M $596.0M $596.0M
YoY Change 0.13% 0.14% 0.14%
Other Long-Term Liabilities $19.63M $203.2M $203.2M
YoY Change -8.75% -0.34% -0.34%
Total Long-Term Liabilities $19.63M $799.2M $799.2M
YoY Change -8.75% 0.01% 0.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $398.4M $416.0M $416.0M
Total Long-Term Liabilities $19.63M $799.2M $799.2M
Total Liabilities $1.204B $1.254B $1.254B
YoY Change -0.83% -1.41% -1.41%
SHAREHOLDERS EQUITY
Retained Earnings $1.177B $1.170B
YoY Change 3.36% 4.08%
Common Stock $501.1M $514.0M
YoY Change -9.41% -9.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.277B $1.250B $1.250B
YoY Change
Total Liabilities & Shareholders Equity $2.522B $2.504B $2.504B
YoY Change 0.36% -1.71% -1.71%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $22.12M $37.18M $109.3M
YoY Change -26.4% 2.07% -7.71%
Depreciation, Depletion And Amortization $30.84M $2.883M $11.56M
YoY Change 1.24% -8.42% -8.45%
Cash From Operating Activities $45.75M $113.6M $277.1M
YoY Change 77.92% -13.75% 7.43%
INVESTING ACTIVITIES
Capital Expenditures $24.75M $23.32M $107.6M
YoY Change -22.17% 0.08% 13.96%
Acquisitions $4.010M
YoY Change
Other Investing Activities -$9.000K $6.000K $3.280M
YoY Change -66.67% -97.9% -2703.17%
Cash From Investing Activities -$19.95M -$23.31M -$109.4M
YoY Change -30.54% 1.3% 22.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$36.35M -53.09M -$141.7M
YoY Change 500.69% -42.97% -0.95%
NET CHANGE
Cash From Operating Activities $45.75M 113.6M $277.1M
Cash From Investing Activities -$19.95M -23.31M -$109.4M
Cash From Financing Activities -$36.35M -53.09M -$141.7M
Net Change In Cash -$8.383M 37.25M $21.95M
YoY Change -23.25% 137.96% 7.41%
FREE CASH FLOW
Cash From Operating Activities $45.75M $113.6M $277.1M
Capital Expenditures $24.75M $23.32M $107.6M
Free Cash Flow $21.00M $90.33M $169.5M
YoY Change -444.91% -16.72% 3.66%

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NATURE OF OPERATIONS<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With more than 85 years of materials expertise, the Company is a global industrial technology leader, helping customers across the Aerospace &amp; Defense, Earthworks, Energy, General Engineering and Transportation end markets manufacture with precision and efficiency. This expertise includes the development and application of tungsten carbides, ceramics, super-hard materials and solutions used in metal cutting and extreme wear applications to keep customers up and running longer against conditions such as corrosion and high temperatures.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our standard and custom product offering spans metal cutting and wear applications including turning, milling, hole making, tooling systems and services, as well as specialized wear components and metallurgical powders. End users of the Company's metal cutting products include manufacturers engaged in a diverse array of industries including: the manufacturers of transportation vehicles and components, machine tools and light and heavy machinery; airframe and aerospace components; and energy-related components for the oil and gas industry, as well as power generation. The Company’s wear and metallurgical powders are used by producers and suppliers in equipment-intensive operations such as road construction, mining, quarrying, oil and gas exploration, refining, production and supply, and for aerospace and defense.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless otherwise specified, any reference to a “year” is to a fiscal year ended June 30. When used in this Annual Report on Form 10-K, unless the context requires otherwise, the terms “we,” “our” and “us” refer to Kennametal Inc. and its subsidiaries.</span></div>
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS</span> In preparing our consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP), we make judgments and estimates about the amounts reflected in our consolidated financial statements. As part of our financial reporting process, our management collaborates to determine the necessary information on which to base our judgments and develop estimates used to prepare the consolidated financial statements. We use historical experience and available information to make these judgments and estimates. Actual amounts could differ from the estimates reflected in our consolidated financial statements.
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Files In Submission

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Financial_Report.xlsx Edgar Link pending
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