On Thursday, Kennametal Inc. (NYSE:KMT)’s shares inclined 1.50% to $33.16.
Kennametal Inc. (KMT) declared fiscal 2015 and fourth-quarter results. For fiscal 2015, the company stated loss per diluted share (LPS) of $4.71, contrast with EPS of $1.99 during the preceding year. Adjusted EPS were $2.02 in the current year contrast to $2.53 in the preceding year.
For its fiscal fourth quarter, the company stated EPS of $0.26, contrast with the preceding year quarter EPS of $0.57. The current quarter adjusted EPS were $0.46, contrast to $0.79 in the preceding year quarter.
Fiscal 2015 Fourth Quarter Key Developments
- Sales were $638 million contrast with $772 million in the same quarter last year. Sales reduced by 17 percent, reflecting a 10 percent organic sales decline, a 7 percent unfavorable currency exchange impact and a 1 percent decrease from a preceding year divestiture, offset partially by a 1 percent enhance due to more business days.
- On a combined basis, pre-tax restructuring and related charges amounted to $21 million, or $0.24 per share, and pre-tax benefits were about $17 million, or $0.16 per share in the quarter.
- Operating income was $35 million, contrast with $78 million in the same quarter last year. Adjusted operating income was $56 million, contrast with $95 million in the preceding year quarter. The decrease in operating income in the current period was primarily driven by organic sales decline, lower absorption of manufacturing costs related to reduced sales volumes and an inventory reduction initiative, unfavorable mix in Infrastructure and unfavorable currency exchange, offset partially by restructuring benefits. Adjusted operating margin was 8.8 percent in the current period and 12.4 percent in the preceding period.
Kennametal Inc. manufactures and supplies tooling, engineered components, and advanced materials consumed in production processes worldwide. The company operates in two segments, Industrial and Infrastructure. It offers standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, and materials, counting cemented tungsten carbide products, super alloys, coatings, and investment castings.
Coca-Cola Enterprises Inc (NYSE:CCE)’s shares dropped -1.60% to $45.46.
The Coca-Cola Enterprises (CCE) Board of Directors declared a regular quarterly dividend of 28 cents per share. The dividend is payable September 17, 2015 to shareowners of record on September 4, 2015.
Coca-Cola Enterprises, Inc. produces, distributes, and markets non-alcoholic beverages in Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, and Sweden. The company offers nonalcoholic ready-to-drink beverages with carbonation, counting energy drinks, waters, and flavored waters; and nonalcoholic beverages without carbonation, such as waters and flavored waters, juice and juice drinks, teas, coffees, and sports drinks.
At the end of Thursday’s trade, C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)‘s shares surged 0.03% to $69.87.
C.H. Robinson ( CHRW) will deliver a company presentation at the forthcoming 2015 InvestMNt conference sponsored by CFA Society Minnesota.
The all-day event will take place Wednesday, August 5, 2015, at the University of St. Thomas in downtown Minneapolis. The C.H. Robinson presentation will be at 8:15 a.m. Central Time (9:15 a.m. Eastern Time).
C.H. Robinson Worldwide, Inc., a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. It offers transportation and logistics services, such as truckload comprising time-definite and expedited truck transportation services; less than truckload services; intermodal transportation, which is shipment service of freight in trailers or containers by combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, in addition to organizes air shipments and provides door-to-door services.
DHT Holdings Inc (NYSE:DHT), ended its Thursday’s trading session with -3.86% loss, and closed at $8.22.
DHT Holdings, Inc. (DHT) declared a new policy regarding dividend and capital allocation. As a result of the current tanker market, DHT intends to return at least 60% of its ordinary net income (adjusted for extraordinary items) to shareholders. Further, DHT intends to use a noteworthy amount of surplus cash flow after returning such capital to shareholders to delever its balance sheet. DHT will commence its new capital allocation policy starting with the second quarter of 2015.
DHT Holdings, Inc. operates crude oil tankers in Bermuda. As of March 10, 2015, its fleet compriseed of 18 crude oil tankers, counting 14 very large crude carriers, 2 Suezmax tankers, and 2 Aframax tankers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.
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