Kennametal reported a solid Q4 2024 performance despite a mixed macro backdrop. Revenue for the quarter was $543.3 million, down 1% YoY on organic terms with a 2% negative FX headwind and a 2% favorable workday effect, culminating in an adjusted EBITDA margin of 17.7% and an operating margin of 11.5%. Management highlighted strength in aerospace and defense (+23% YoY in end markets) and ongoing margin progression across segments, aided by roughly $7 million of restructuring savings and a tornado-related charge of about $4 million in the Infrastructure segment. Full-year results were characterized by resilience in the face of soft markets, FX headwinds, and a tornado, yet Kennametal achieved its highest free operating cash flow since fiscal 2015 and the strongest operating cash flow as a percentage of sales in over 25 years. The company reaffirmed a strategic pathway centered on above-market growth, continuous improvement via lean initiatives, and portfolio optimization, while signaling a modestly improving second half of fiscal 2025. Looking forward, Kennametal’s FY25 guidance calls for sales of $2.0–$2.1 billion with adjusted EPS of $1.30–$1.70, ongoing cost-outs totaling roughly $100 million (with about $14 million rollover savings expected in 2025), and free cash flow greater than 125% of adjusted net income, underscoring a strong cash-generation thesis even as near-term markets remain mixed.