We present a detailed analysis of the hard X-ray (>2.5 keV) EPIC spectra from the first observations of NGC 4151 made by XMM-Newton. We fit the spectra with a model consisting of a power-law continuum modified by line-of-sight absorption (arising in both partially photoionized and neutral gas) plus additional iron-K emission and absorption features. This model provides an excellent overall fit to the EPIC spectra. The iron K-alpha line is well modelled as a narrow Gaussian component. In contrast to several earlier studies based on data from ASCA, a relativistically broadened iron K-alpha emission feature is not required by the XMM-Newton data. The upper limit on the flux contained in any additional broad line is ~8% of that in the narrow line. The measured intrinsic line width (sigma =32+_7 eV) may be ascribed to (i) the doublet nature of the iron K-alpha line and (ii) emission from low ionization states of iron, ranging from neutral up to ~FeXVII. The additional iron absorption edge arises in cool material and implies factor ~2 overabundance of iron in this component.