PITTSBURGH – Kennametal Inc. (NYSE: NYSE:), a $1.87 billion industrial technology company currently trading near its 52-week low, has appointed Faisal Hamadi as the new President of its Infrastructure segment, effective January 20, 2025. The announcement comes as the current President, Franklin Cardenas, prepares to step down from his role.
Hamadi, who joined Kennametal in July 2024, will take over the responsibilities from Cardenas, who has been commended for his service and contributions to the company. Sanjay Chowbey, President and CEO of Kennametal, expressed his confidence in Hamadi’s abilities to lead the segment, citing his diverse business experience and strategic thinking.
Prior to his new role, Hamadi served as Vice President of Kennametal’s Value Creation Systems, where he implemented lean business systems. His background includes 17 years at Eaton (NYSE:) Corporation, where he held various positions, culminating in the role of General Manager of a $600 million aerospace business.
In his upcoming role, Hamadi will be responsible for advancing the strategy, driving operational excellence, and delivering profitable growth for the Infrastructure segment. His previous responsibilities within Value Creation Systems will be merged with other roles at Kennametal to align business and continuous improvement efforts across the company.
Cardenas will remain with Kennametal until April 1, 2025, to assist in the transition.
Kennametal, with a history spanning over 85 years, is recognized as an industrial technology leader. The company, which generated $2 billion in revenues in fiscal 2024, employs approximately 8,400 people worldwide and serves customers in nearly 100 countries. According to InvestingPro, Kennametal has maintained dividend payments for 54 consecutive years, demonstrating strong financial stability with a healthy current ratio of 2.52.
This leadership change is based on a press release statement from Kennametal Inc. InvestingPro analysis reveals several additional insights about Kennametal’s financial health, with 6 more exclusive ProTips available to subscribers. Get access to the comprehensive Pro Research Report, part of InvestingPro’s coverage of over 1,400 US equities, for detailed analysis and actionable intelligence.
In other recent news, Kennametal has announced plans to close plants and cut jobs, expecting to save around $15 million annually by the end of Fiscal 2025. These measures include shutting down a plant in Greenfield, MA, and consolidating two facilities near Barcelona, Spain. The company is also implementing a global workforce reduction, particularly in professional roles, to address softer market conditions. These recent actions are part of a broader strategy to close three to five plants by the end of Fiscal 2027.
Kennametal has maintained dividend payments for 54 consecutive years and generated $307.28 million in EBITDA over the last twelve months. The company’s strong liquidity, with a current ratio of 2.52, provides financial flexibility during this transition period. Further details on the Fiscal 2025 outlook will be provided during Kennametal’s upcoming Q2 earnings call.
Loop Capital has upgraded Kennametal’s stock price target to $26 from $24, maintaining a Hold rating. The firm’s decision is based on Kennametal’s solid financial performance in the first quarter of the fiscal year, although it expressed concern regarding the company’s guidance for the second half of the year. In addition, Kennametal recently reported its first quarter fiscal 2025 results, with executives presenting their remarks during an earnings conference call. Investors are advised to refer to Kennametal’s earnings press release and SEC filings for further information.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
