Kennametal (KMT): Estimates May Need Solid Abrasive Cutting

Kennametal is an industrial supplier specializing in a wide variety of metal cutting and drilling solutions. This includes turning, milling, hole-making, tooling, custom cutting, and maintenance services. The company also has two other secondary businesses: producing custom alloy components and frac seats for oil and gas companies, and providing ceramic solutions for packaging companies (for metallization of films and papers). In terms of top-line exposure to end markets, Kennametal derives the vast majority of its total revenue from the general manufacturing (~55% based on company filings) and transportation industries (~28%). Geographically, the US (45%) and EMEA (31%) account for over 75% of revenue, with Germany being their largest for