Kennametal Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Kennametal Inc. (KMT) revealed a profit for its second quarter that increased from last year.

The company's earnings totaled $54.70 million, or $0.66 per share. This compares with $41.60 million, or $0.50 per share, in last year's second quarter.

Excluding items, Kennametal Inc. reported adjusted earnings of $58.96 million or $0.71 per share for the period.

Analysts had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.8% to $587.39 million from $571.35 million last year.

Kennametal Inc. earnings at a glance:

-Earnings (Q2): $58.96 Mln. vs. $43.20 Mln. last year. -EPS (Q2): $0.71 vs. $0.52 last year. -Analysts Estimate: $0.68 -Revenue (Q2): $587.39 Mln vs. $571.35 Mln last year.