Kennametal (KMT) Cuts FY16 Outlook
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Kennametal Reduces Fiscal 2016 Outlook Due To Weakening End Market Conditions
December 14, 2015 4:37 PM ESTPITTSBURGH, Dec. 14, 2015 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced that the company is reducing its previously announced fiscal 2016 guidance.Â
The company's revenue expectations have been negatively impacted by further declines in its end markets as evidenced by continued declines in industrial production indices since prior guidance was issued in early November, particularly China automotive and US and China coal mining, as well as further reductions in O&G activity. At this point in time, as a result of lower revenue expectations and the company's current... More
