Kennametal NYSE: KMT shareholders elected nine directors, ratified PricewaterhouseCoopers LLP as the company’s independent auditor for fiscal 2027 and approved an advisory vote on executive compensation at the company’s 2026 annual meeting.
Chairman William Lambert said all members of the board were present for the virtual meeting, along with members of management including President and Chief Executive Officer Sanjay Chowbey and Chief Financial Officer Patrick Watson. The company reported that more than a majority of its outstanding shares were represented at the meeting, establishing a quorum.
As of the Aug. 28, 2026 record date, Kennametal had 76.39 million shares of capital stock issued and outstanding, according to Michelle Keating, the company’s vice president, secretary and general counsel.
Shareholders Approve Board, Auditor and Executive Pay
Shareholders elected Joseph Alvarado, Shelley Bausch, Sanjay Chowbey, Douglas T. Dietrich, Richard J. Harshman, Dawne Hickton, Lorraine M. Martin, Sagar A. Patel and Paul Sternlieb to one-year terms expiring at the 2027 annual meeting.
They also ratified PricewaterhouseCoopers as Kennametal’s independent registered public accounting firm for the fiscal year ending June 30, 2027.
The company’s non-binding “say-on-pay” proposal regarding compensation for named executive officers was approved. Kennametal said approximately 99% of votes cast supported the executive-compensation advisory vote at its fiscal 2026 annual meeting.
Keating said final voting results would be reported in a Form 8-K filing with the Securities and Exchange Commission within four business days.
Fiscal 2026 Sales and Earnings Growth
In remarks following the formal business portion of the meeting, Chowbey described fiscal 2026 as a strong year for the company, citing sales growth, higher margins and shareholder returns.
Sales reached $2.4 billion, rising 19% year over year on an organic basis, supported by additional price realization and modest volume growth, he said. Adjusted earnings per share increased to $4.57 from $1.34 in the prior year, while adjusted EBITDA margin expanded to 26.9% from 15.2%.
Kennametal returned $71 million to shareholders through dividends and share repurchases during the year, Chowbey said.
He said the company expanded its business with key customers by applying its materials science, process technology, application engineering and global supply-chain capabilities. The company also cited growth-platform wins associated with power generation for AI data centers, aerospace and defense programs, mining projects and next-generation vehicle powertrains.
Cost-Savings Plan and Fiscal 2027 Outlook
Chowbey said Kennametal navigated what he described as an “unprecedented tungsten environment” during fiscal 2026, taking pricing and other actions intended to offset the impact while preserving operational discipline, liquidity and balance-sheet flexibility.
The company realized $27 million in restructuring savings during fiscal 2026 and remains committed to delivering $110 million in savings by the end of fiscal 2027, according to Chowbey. He said the lean transformation and structural cost actions are intended to make the organization more efficient, agile and focused on growth.
Looking ahead, Chowbey said Kennametal is encouraged by improving conditions and growth across several end markets. The company plans to remain disciplined amid market uncertainty while pursuing above-market growth, continuous improvement and customer-focused solutions.
No shareholder questions or comments were submitted during the meeting’s question-and-answer portion.
About Kennametal (NYSE:KMT)
Kennametal Inc NYSE: KMT is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.
The company's offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.
Founded in 1938 by Philip M.
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