Kennametal announces fiscal 2020 second quarter results; lowers fiscal 2020 eps outlook; declares quarterly dividend

Reported results for its fiscal 2020 second quarter ended december 31, 2019, with loss per diluted share (lps) of $0.07, compared with earnings per diluted share (eps) of $0.66 in the prior year quarter, and adjusted eps of $0.17, compared with adjusted eps of $0.71 in the prior year quarter.sales of $505 million decreased 14 percent from $587 million in the prior year quarter, reflecting 12 percent organic sales decline, 1 percent unfavorable currency exchange effect and 1 percent decline from divestiture.reported eps in the current quarter includes restructuring and related charges of $0.39, loss on divestiture of $0.03 and discrete benefits from foreign tax reforms of $0.18.provided fiscal 2020 adjusted eps outlook of $1.20 to $1.50 on organic sales decline of 9 to 12 percent.announced that its board of directors declared a quarterly cash dividend of $0.20 per share. the dividend is payable on february 25, 2020 to shareholders of record as of the close of business on february 11, 2020.
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