KENNAMETAL INC

Kennametal Inc. announced the appointment of Amanda Cole as Vice President and Chief Human Resources Officer, effective July 21, 2026. Ms. Cole joins from Wesco International, Inc. and will report to President and CEO Sanjay Chowbey. She succeeds Judith Bacchus, who will retire on or about October 1, 2026, after more than 20 years with the company. Ms. Cole's compensation package includes an annual base salary of $375,000, a $58,000 sign-on bonus, and a $300,000 special long-term incentive grant.

Kennametal Inc. and its subsidiary Kennametal Europe GmbH entered into a First Amendment to their Seventh Amended and Restated Credit Agreement, increasing the total commitments from $650 million to $850 million. Concurrently, the company secured a new $500 million Term Loan Credit Agreement. These actions enhance Kennametal's financial flexibility and borrowing capacity, with the revolving credit facility maturing on November 17, 2030, and both agreements containing various covenants including a maximum Consolidated Leverage Ratio.

Kennametal Inc. completed the public offering of $300 million in 5.800% Senior Notes due May 28, 2036. The net proceeds, approximately $295.9 million, will primarily fund a concurrent tender offer to purchase its 4.625% Senior Notes due 2028. Any remaining funds will be used for general corporate purposes, including repayment of outstanding debt.

Kennametal Inc. announced the final results and expiration of its cash tender offer to purchase any and all of its outstanding 4.625% Senior Notes due 2028. The company accepted $209,384,000 in principal amount of the notes, out of an original $300,000,000 outstanding. The tender offer consideration was priced at $1,004.55 per $1,000 principal amount, plus accrued interest. Settlement is expected on May 29, 2026, contingent on the completion of a concurrent notes offering.

Kennametal Inc. announced a cash tender offer to repurchase any and all of its outstanding 4.625% Senior Notes due 2028, which have an aggregate principal amount of $300 million. Concurrently, the company commenced an underwritten public offering of new senior notes. The tender offer is conditional upon the successful completion of the new notes offering, with proceeds from the new offering primarily intended to fund the tender offer and for general corporate purposes.

Kennametal Inc. reported strong financial results for the three and nine months ended March 31, 2026, with significant increases in sales, net income, and diluted EPS compared to the prior year. The company also completed restructuring initiatives and entered into a new five-year revolving credit facility. However, net cash flow from operating activities decreased, and inventories saw a substantial increase.

Kennametal reported strong fiscal Q3 2026 results, with sales increasing 22% to $593 million and diluted EPS rising 85% to $0.75. Adjusted EPS also saw a significant increase of 65% to $0.77. The company attributed the strong performance to an unprecedented rise in tungsten pricing and stronger volume, exceeding its sales and adjusted EPS outlook. Consequently, Kennametal raised its full fiscal year 2026 sales and adjusted EPS outlook. The Board also declared a quarterly cash dividend of $0.20 per share.

Kennametal Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share. The dividend is scheduled to be paid on May 26, 2026, to shareholders who are on record as of the close of business on May 12, 2026.