Kennametal reported a modestly softer start to fiscal 2025 (QQ1) with revenue of $481.95 million, down 2% year over year. Organic declines were led by Metal Cutting (-4% YoY) while Infrastructure grew 1% organically. End-market drivers were mixed: Aerospace & Defense rose 13% YoY, Energy up 2%, but Transportation (-2%), General Engineering (-3%), and Earthworks (-6%) weakened. Asia-Pacific, on a constant-currency basis, grew 3% in Metal Cutting and overall Asia-Pacific sales were resilient, while EMEA and the Americas remained weak. The company delivered an adjusted EBITDA margin of 14.3% and adjusted EPS of $0.29, down from $0.41 in the prior-year quarter. Discrete items included ~$5 million of restructuring run-rate savings (target ~$35 million annualized), insurance proceeds of ~$0.04 per share related to a prior event, and a favorable India tax dispute resolution (~$1 million benefit). Free operating cash flow reached $21 million year-to-date, supported by better working capital management. Kennametal also announced meaningful growth initiatives (PrimePoint longwall mining pick; TopSwiss micro machining tools) and continued capital allocation through a $15 million share repurchase in Q1 2025. Looking ahead, the company maintains FY25 guidance of $2.0–$2.1 billion in revenue and $1.30–$1.70 in EPS, with free operating cash flow expected to exceed 125% of adjusted net income. Management framed the outlook as dependent on a gradual EBIT recovery in H2, supported by continued innovation, cost discipline, and portfolio optimization.