Kennametal Inc. Files 8-K on Exit Costs and Financials
Ticker: KMT · Form: 8-K · Filed: Jan 14, 2025 · CIK: 55242
| Field | Detail |
|---|---|
| Company | Kennametal Inc (KMT) |
| Form Type | 8-K |
| Filed Date | Jan 14, 2025 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.25, $15 million, $25 million, $10 million, $5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: exit-costs, financial-statements, disposal-activities
TL;DR
Kennametal filed an 8-K on Jan 13, 2025, reporting exit costs and financial statements.
AI Summary
On January 13, 2025, Kennametal Inc. filed an 8-K report detailing costs associated with exit or disposal activities. The filing also included financial statements and exhibits. The company is incorporated in Pennsylvania and its principal executive offices are located in Pittsburgh.
Why It Matters
This filing provides insight into Kennametal's restructuring or divestiture activities, which could impact future financial performance and operational strategy.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of exit costs and financial statements, not indicating immediate operational or financial distress.
Key Players & Entities
- Kennametal Inc. (company) — Registrant
- Pennsylvania (location) — State of Incorporation
- Pittsburgh (location) — Principal Executive Offices City
- January 13, 2025 (date) — Date of earliest event reported
FAQ
What specific activities are associated with the exit or disposal costs reported by Kennametal Inc.?
The filing does not specify the exact nature of the exit or disposal activities, only that costs are associated with them.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on January 13, 2025.
What is Kennametal Inc.'s state of incorporation?
Kennametal Inc. is incorporated in Pennsylvania.
Where are Kennametal Inc.'s principal executive offices located?
Kennametal Inc.'s principal executive offices are located at 525 William Penn Place, Suite 3300, Pittsburgh, Pennsylvania 15219.
What is the SEC file number for Kennametal Inc.?
The SEC file number for Kennametal Inc. is 1-5318.
Filing Stats: 631 words · 3 min read · ~2 pages · Grade level 13 · Accepted 2025-01-14 16:32:40
Key Financial Figures
- $1.25 — ch registered Capital Stock, par value $1.25 per share KMT New York Stock Exchange
- $15 million — n rate pre-tax savings of approximately $15 million by the end of Fiscal 2025. The Company
- $25 million — incur pre-tax charges of approximately $25 million in connection with the execution of the
- $10 million — f these actions; of which approximately $10 million is for cash-related facilities charges,
- $5 million — ted cash expenditures and approximately $5 million is for non-cash facilities charges. The
Filing Documents
- kmt-20250113.htm (8-K) — 33KB
- 0000055242-25-000004.txt ( ) — 219KB
- kmt-20250113.xsd (EX-101.SCH) — 3KB
- kmt-20250113_def.xml (EX-101.DEF) — 19KB
- kmt-20250113_lab.xml (EX-101.LAB) — 33KB
- kmt-20250113_pre.xml (EX-101.PRE) — 19KB
- kmt-20250113_htm.xml (XML) — 4KB
05 Costs Associated with Exit or Disposal Activities
Item 2.05 Costs Associated with Exit or Disposal Activities. Kennametal Inc. ("Kennametal" or the "Company") today announced that it has initiated several actions that support the long-term competitiveness of the Company and align with the Investor Day commitments the Company made on September 8, 2023, including three to five plant closures by the end of Fiscal 2027. Within the Metal Cutting segment, the Company intends to close a facility in Greenfield, MA and consolidate two facilities near Barcelona, Spain into a single, modern facility. Subject to negotiations with local employee representatives, the operations in Greenfield, MA are expected to cease in April 2025 and the plant closure is expected to be substantially complete by December 31, 2025. The consolidation of the Barcelona, Spain facilities is expected to be substantially complete by June 30, 2025. Additionally, to mitigate softer market conditions, especially in EMEA, the Company has initiated a global action to reduce structural costs by removing certain professional headcount. These combined actions are currently expected to deliver annualized run rate pre-tax savings of approximately $15 million by the end of Fiscal 2025. The Company expects to incur pre-tax charges of approximately $25 million in connection with the execution of these actions; of which approximately $10 million is for cash-related facilities charges, approximately $10 million is for severance-related cash expenditures and approximately $5 million is for non-cash facilities charges. The Company will provide any updates to the full year Fiscal 2025 outlook on its upcoming Q2 earnings call.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KENNAMETAL INC. Date: January 14, 2025 By: /s/ Patrick S. Watson Patrick S. Watson Vice President and Chief Financial Officer 3