Coming in at US$0.14, Kennametal marginally outperformed analyst’s prediction of a US$0.12 or US$0.11 per share earnings. Their revenue came in at US$524 million, a good deal higher than expert estimates of around US$502 million.

Despite the slight positives, Don Nolan, president and CEO, acknowledged the turmoil that the industry is currently embroiled in.

“We are clearly operating in an environment where some of our key end markets are under significant pressure. We continue to adjust our global operations to best manage through this challenging time. We are acting quickly in anticipation of continued headwinds in our fiscal year 2016”