Short answer
KENNAMETAL INC (KMT) filed its fiscal 2026 10-K annual report with the SEC on Aug 12, 2026. It reported revenue of $2.4B (+19.8% year over year) and net income of $342M.
- Top risk flagged: Regulatory risk: potential regulation of hard metal dust under U.S., Europe, Japan health agencies could restrict tungsten, cobalt use and increase costs
FY2026 key financial metrics · XBRL
- Revenue
- $2.4B
- +19.8% YoY
- Net income
- $342M
- +267.7% YoY
- Operating margin
- 20.1%
- +12.8 pp YoY
- Gross margin
- 41.2%
- +10.7 pp YoY
- EPS (diluted)
- $4.42
- +268.3% YoY
- ROE
- 21.8%
- +14.6 pp YoY
- Operating cash flow
- −$4M
- −101.9% YoY
Source: XBRL data from the KENNAMETAL INC (KMT) FY2026 10-K on SEC EDGAR. USD.
KENNAMETAL INC FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: global industrial technology leader specializing in tungsten carbides, ceramics, super-hard materials for metal cutting and wear applications across diverse industries
- No new segments introduced; continued emphasis on digital manufacturing, intelligent machining via prior partnerships with Toolpath Labs (FY25) and ModuleWorks (FY24)
- Strategic focus on price increases, supplier diversification, inventory management to counter inflation and raw material volatility; paused share repurchases after $10M in FY26
- Quantitative: sales up 20% to $2.36B; net income $342.4M ($4.42 EPS) vs $93.1M ($1.20 EPS) in prior year; workforce steady at 8,073 employees globally
- Noteworthy FY26 impact: Supreme Court invalidated certain tariffs prompting potential refund opportunities; raw material costs increased sharply due to tightening tungsten supply and geopolitical factors
Management Discussion & Analysis
- Revenue $2,356.7M, up 20% YoY from $1,966.8M; organic growth 19%, currency +2%, divestiture -1%
- Operating income $472.5M, margin 20.1% vs 7.3% prior year; Metal Cutting margin 14.0% vs 7.1%, Infrastructure margin 29.2% vs 7.8%
- Best segment: Infrastructure sales $959.3M (+28%), operating income $279.9M (+$221.4M); Worst: Metal Cutting sales $1,397.4M (+15%), operating income $195.6M (+$109.2M)
- Operating cash flow -$4.0M vs +$208.3M prior year; Capex $76.9M vs $89.0M; Share repurchases $10M (475K shares), dividends $61M paid
- Management notes inflation and raw material cost pressures; paused share buybacks pending cash flow improvements; pursuing tariff recoveries post-legal ruling
Risk Factors
- Regulatory risk: potential regulation of hard metal dust under U.S., Europe, Japan health agencies could restrict tungsten, cobalt use and increase costs
- Geopolitical risk: Middle East conflicts (Oct 2023, Feb 2026) plus Russia-Ukraine war disrupt supply chain, inflate raw material prices including tungsten
- Operational risk: 57% of sales outside U.S. exposes to currency fluctuations, trade barriers, foreign labor laws, tax uncertainties, and political instability
- Competitive risk: mining/drilling customer regulations and clean energy shift may reduce demand for traditional fossil-fuel related products
- Financial risk: goodwill impairment risk with $279.2 million (9% total assets) at June 30, 2026 could negatively impact earnings if performance weakens
Generated from the filing text; verify against the original. How to read a 10-K
Other KENNAMETAL INC annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.