In the second quarter of fiscal 2025, the Metal Cutting segment's operating margin decreased 10 basis points due to headwinds from higher wages, general inflation and certain manufacturing costs. Forex Woes : With KMT's operations spread globally, its business is exposed to risks arising from geopolitical issues, adverse movement in foreign currencies and governmental policies. In the first six months of fiscal 2025, forex woes negatively affected the Metal Cutting segment's revenues by 1%. Estimate Revisions : In the past 60 days, the Zacks Consensus Estimate for Kennametal's fiscal 2025 earnings has trended down from $1.44 per share to $1.17 on four downward estimate revisions against none upward. The consensus estimate for fiscal 2026 earnings decreased from $1.60 per share to $1.37 on four downward estimate revisions against none upward.