KMT — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-12

• ACQUISITIONS, STRATEGIC INVESTMENTS AND DIVESTITURES We continually evaluate new opportunities to expand into new market areas, and to introduce new and/or complementary product offerings into new or existing areas where appropriate. Recent initiatives include our strategic partnerships with Toolpat…

• During fiscal 2025, we completed the sale of a subsidiary located in Goshen, Indiana to a Chicago-based private equity firm and recognized a loss on divestiture of $1.5 million.

• RAW MATERIALS AND SUPPLIES Our major metallurgical raw materials consist of tungsten ore concentrates and scrap carbide, which are used to make tungsten oxide, as well as compounds and secondary materials such as cobalt. Although an adequate supply of these raw materials currently exists, our major …

• We exercise great care in selecting, purchasing and managing the availability of raw materials utilizing a mix of long-term supply agreements coupled with spot purchases. Additionally, our internal tungsten recycling capability provides us access to additional sources of tungsten, and therefore, hel…

• As part of our awareness initiatives in 2026, we launched our first global Building Better Days movement challenge during Mental Health Awareness month. Approximately 500 employees joined, committing to making movement part of their daily routines, building health habits and focusing on creating mor…

Text removed vs the prior filing · source: 10-K · 2025-08-12

• ACQUISITIONS AND DIVESTITURES We continually evaluate new opportunities to expand into new market areas, and to introduce new and/or complementary product offerings into new or existing areas where appropriate. We expect to continue to grow our business and further enhance our market position throug…

• RAW MATERIALS AND SUPPLIES Our major metallurgical raw materials consist of tungsten ore concentrates and scrap carbide, which are used to make tungsten oxide, as well as compounds and secondary materials such as cobalt. Although an adequate supply of these raw materials currently exists, our major …

• As part of our awareness initiatives in 2025, we have launched the redesign of the external career website to include a section on belonging, highlighting our culture. We continued to support our Employee Resource Groups (ERGs) to foster communication, mentorship and community among diverse groups w…

• In 2025, we continued to achieve positive results in proactive risk identification and closure programs which drive our culture of eliminating hazards prior to potential incidents. Our total recordable incident rate (TRIR) performance was 0.42 in 2025 compared to 0.35 in 2024.

• Employee Development and Training. For the Company to grow, our employees must grow and develop continuously. We offer learning and development opportunities for all employees. In 2025, this included training for senior, mid-level and emerging leaders in role- and function-specific skills, such as c…

Text added vs the prior filing · source: 10-K · 2026-08-12

• Sales of $2,356.7 million in 2026 increased 20 percent from $1,966.8 million in 2025, reflecting organic sales growth of 19 percent and a favorable foreign currency exchange effect of 2 percent, partially offset by a divestiture effect of 1 percent.

• Operating income was $472.5 million, or 20.1 percent margin, in 2026 compared with $143.1 million, or 7.3 percent margin, in the prior year. The increase in operating income was driven by the favorable timing of raw material-related pricing compared to costs of approximately $316 million, non-raw ma…

• In February 2026, the U.S. Supreme Court issued a ruling invalidating certain tariffs previously imposed under the International Emergency Economic Powers Act (IEEPA). As a result of this ruling, companies may be eligible for a refund of tariffs previously paid on imported goods. We are pursuing pot…

• Additionally, our business has been affected by foreign currency exchange, inflationary headwinds and rising tungsten prices. These pressures, driven by tightening global supply, geopolitical factors and evolving trade policies have increased raw material costs and caused other business disruptions.…

• In February 2024, the Board of Directors of the Company authorized a $200 million, three-year share repurchase program outside of the Company's dividend reinvestment program. During 2026, the Company repurchased 475 thousand shares of common stock for $10 million. Subsequent to these repurchases, th…

Text removed vs the prior filing · source: 10-K · 2025-08-12

• Sales of $1,966.8 million in 2025 decreased 4 percent from $2,046.9 million in 2024, reflecting an organic sales decline of 4 percent and an unfavorable currency exchange effect of 1 percent, partially offset by a favorable business days effect of 1 percent.

• Operating income was $143.1 million, or 7.3 percent margin, compared with $170.2 million, or 8.3 percent margin, in the prior year. The decrease in operating income was primarily due to lower sales and production volumes, higher wages and general inflation, unfavorable foreign currency exchange of a…

• During the year ended June 30, 2025, we completed the sale of a subsidiary located in Goshen, Indiana to a Chicago-based private equity firm. The Company received $19 million in proceeds and recognized a loss on divestiture of $1.5 million during 2025. The proceeds are subject to customary post-clos…

• In February 2024, the Board of Directors of the Company authorized a $200 million, three-year share repurchase program outside of the Company's dividend reinvestment program. During 2025, the Company repurchased 2.5 million shares of common stock for $60 million.

• Uncertainties with respect to evolving global trade policies and tariffs have negatively affected the global economy. The Company's results of operations, cash flows and financial condition could be negatively impacted by a decrease in demand for our products or an inability to effectively mitigate …