11:55 AM EST, 11/06/2024 (MT Newswires) -- (Updates with recent stock movement)

Kennametal ( KMT ) shares rose more than 17% in recent Wednesday trading after the company's fiscal Q1 earnings beat market expectations.

The industrial materials supplier reported fiscal Q1 adjusted net income of $0.29 per diluted share, down from $0.41 a year earlier. Analysts polled by Capital IQ expected $0.26.

Sales for the quarter ended Sept. 30 were $481.9 million, down from $492.5 million a year earlier.

Analysts surveyed by Capital IQ expected $484.9 million.

The aerospace and defense supplier said it expects fiscal Q2 adjusted EPS of $0.20 to $0.30. Analysts polled by Capital IQ expect $0.26.

Sales for the fiscal quarter are expected between $480 million and $500 million. Analysts surveyed by Capital IQ expect $494 million.

For fiscal 2025, Kennametal ( KMT ) expects adjusted EPS of $1.30 to $1.70. Analysts polled by Capital IQ expect $1.45.

Sales for the fiscal year are expected between $2 billion and $2.1 billion. Analysts surveyed by Capital IQ expect $2.04 billion.

Additionally, the company maintained its quarterly cash dividend at $0.20 per share, payable Nov. 26 to shareholders of record as of Nov. 12.

Price: 31.27, Change: +4.69, Percent Change: +17.63