Kennametal announces fiscal 2020 third quarter results

Kennametal announces fiscal 2020 third quarter results.q3 sales $483 million versus refinitiv ibes estimate of $515.9 million.q3 earnings per share $0.03.q3 earnings per share estimate $0.32 -- refinitiv ibes data.excluding china, effect of covid-19 on q3 was minimal from a revenue standpoint.all but one production facility is operating, and this facility is expected to reopen mid-may.company is taking other aggressive cost-control measures to offset market headwinds.cost cutting measures include, reductions in all discretionary spending, furloughs, extensive travel restrictions.company is withdrawing its previously announced outlook for fiscal year 2020.announced that board of directors declared a quarterly cash dividend of $0.20 per share.kennametal - has adequate liquidity & access to credit to meet cash flow requirements & expects to remain in compliance with relevant debt covenants.
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