Industrial tool manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, Pennsylvania, reported sales for fiscal first quarter of $518.1 million, an 11.7% decrease over the same period in fiscal 2019. The company posted a profit of $7.4 million for the year, down from $58.4 million the previous year’s quarter.
Industrial sales of $280 million decreased 13% from $321 million year-over-year. Widia sales of $44 million decreased 9% from $49 million year-over-year, Infrastructure sales of $194 million decreased 11% from $217 million year-over-year.
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Profit was $34.4 million compared to $42 million in 2019.
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