Kennametal Inc. (NYSE:KMT) will seek acquisitions. Christopher Rossi President and Chief Executive Officer said during the First Quarter Fiscal 2023 results, "we have the opportunity to supplement our organic growth initiatives through acquisitions". "Our balance sheet is strong and the expected total year free operating cash flow gives us the flexibility to continue investing in our strategic initiatives.

It also allows us to optimize capital allocation, including bolt-on acquisitions, dividends and share repurchases".