Welcome to our dedicated page for Carpenter Technology news (Ticker: CRS), a resource for investors and traders seeking the latest updates and insights on Carpenter Technology stock.
Carpenter Technology Corporation reports developments tied to high-performance specialty alloy materials and process solutions for aerospace and defense, medical, transportation, energy, and industrial and consumer markets. The company’s updates commonly cover Specialty Alloys Operations, Performance Engineered Products, demand in commercial aerospace and defense applications, and premium nickel, cobalt, and titanium alloys.
Recurring news also includes quarterly operating results, segment margin commentary, bookings and long-term customer agreements, common-stock dividends, share repurchases, debt financing, and governance changes. The company’s manufacturing base includes alloy and stainless steel operations in Pennsylvania, South Carolina, and Alabama, with revenue reported across the United States and international regions.
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Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on September 7, 2021. Shareholders of record by August 31, 2021 will receive this dividend, with an ex-dividend date of August 30, 2021. This announcement reflects the company's commitment to returning value to its shareholders.
Carpenter Technology Corporation (NYSE: CRS) reported a fiscal Q4 net loss of $57.1 million, or $1.18 loss per diluted share, exceeding expectations. Adjusted loss per diluted share was $0.28. Total liquidity reached $582 million, with $287 million in cash. Despite a 3.6% decline in net sales to $421.6 million, the company achieved $43 million in free cash flow, signaling operational stability. CEO Tony R. Thene highlighted strengthening demand in end-use markets and ongoing initiatives to enhance productivity and customer relationships.
Carpenter Technology Corporation (NYSE: CRS) plans to host a conference call on July 29, 2021, at 10:00 a.m. ET to discuss its fourth quarter and full year fiscal 2021 results, which ended on June 30, 2021. The financial results will be released before the market opens on the same day. Investors can participate by calling +1 412-317-9259 or via webcast at ir.carpentertechnology.com.
Carpenter Technology Corporation (NYSE: CRS) announced the appointment of Dr. David Graf as Vice President and Group President of its Specialty Alloys Operations, effective July 1, 2021. Dr. Graf, who has been with Carpenter since 2018 as Chief Technology Officer, has significantly enhanced R&D alignment with commercial objectives, boosting customer-driven investments. His leadership also included oversight of the company’s intellectual property and the establishment of an electrification center at the Reading, PA facility, among other initiatives aimed at innovation and operational efficiency.
Carpenter Technology Corporation (NYSE: CRS) has announced a price increase of 6% to 9% on new, non-contract orders for all specialty alloy products, effective from May 24, 2021. This decision reflects the company's strategy to adjust pricing in response to market conditions. All applicable surcharges will remain in effect. Carpenter Technology is a leader in high-performance specialty alloys used across various sectors, including aerospace and medical industries.
Carpenter Technology Corporation (NYSE: CRS) reported a net loss of $40.5 million for the fiscal third quarter ended March 31, 2021, equating to $0.84 loss per diluted share. Adjusted loss per diluted share was $0.54. Net sales dropped 40% to $351.9 million compared to the prior year, reflecting a 39% decrease in volume. The company has $538.8 million in total liquidity, including $244.2 million in cash. Despite current challenges, the company anticipates improved market conditions throughout 2021 and is focused on strengthening relationships with customers.
Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on June 3, 2021, to shareholders of record on May 4, 2021. The ex-dividend date is May 3, 2021. This decision underscores the company's commitment to returning value to its shareholders while maintaining a robust financial position.
Carpenter Technology Corporation (NYSE: CRS) will host a conference call and webcast on April 29, 2021, at 10:00 a.m. ET to discuss its third-quarter fiscal 2021 financial results, ending March 31, 2021. The results will be released before the market opens on the same day. Carpenter Technology is a leader in high-performance specialty alloy-based materials for industries including aerospace, defense, and energy, emphasizing innovation in additive manufacturing.
Carpenter Technology Corporation (NYSE: CRS) has successfully completed a $300 million syndicated credit facility, amending its existing Credit Agreement set to expire on March 31, 2022. The new facility extends the maturity to March 31, 2024, enhancing the Company’s financial flexibility. A Security Agreement has been established, securing accounts receivable, inventory, and related assets as collateral. This strategic move aims to support Carpenter Technology's growth in high-performance specialty alloy materials across critical markets, including aerospace and defense.