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 (NYSE: CRS) is a manufacturer of high-performance specialty alloy materials and process solutions serving aerospace and defense, medical, transportation, energy, and industrial and consumer markets. This news page aggregates company-specific announcements, press releases and market updates related to CRS.
According to its public statements, Carpenter Technology focuses on premium specialty alloys, including nickel, cobalt, and titanium, for critical applications. News about the company often covers developments tied to these end-use markets, such as demand trends in aerospace and defense or activity in medical and energy applications.
Investors and analysts following CRS can use this news feed to review topics the company highlights in its communications. Recent releases have included information on quarterly and annual financial results, operating income trends, and conference calls and webcasts scheduled to discuss results. The company also issues news on quarterly cash dividends declared by its Board of Directors and share repurchase activity under its authorized program.
Carpenter Technology’s capital markets activity is another recurring theme in its news. The company has announced offerings and pricing of senior notes due 2034 and related changes to its credit facilities, including increased revolving commitments and amended terms. These items appear in both press releases and corresponding Form 8-K filings.
In addition, Carpenter Technology publishes updates on corporate governance and classification matters, such as changes in board leadership roles and its reclassification under the Global Industry Classification Standard (GICS) to an Aerospace & Defense designation. Users interested in CRS can review this page regularly to see the sequence of official announcements that shape the company’s public narrative and provide context for its stock.
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.
On February 9, 2021, Carpenter Technology Corporation (NYSE: CRS) announced that Tony Thene, President and CEO, will speak at the Cowen Aerospace/Defense & Industrials Conference on February 10, 2021, at 3:10 PM ET. The event will be available via webcast on the company's investor relations website, with a replay accessible afterward. Carpenter Technology, founded in 1889, specializes in high-performance specialty alloys for various critical applications, including aerospace and medical sectors, and offers comprehensive additive manufacturing solutions.
Carpenter Technology Corporation (NYSE: CRS) reported fiscal Q2 2021 results showing a net loss of $84.9 million, or $1.76 per diluted share. Adjusted loss per diluted share was $0.61. Despite challenges, the company generated $84 million in operating cash flow and $51 million in free cash flow, reflecting strong cash management. Total liquidity reached $665 million, including $271 million in cash. The company secured multiple long-term contracts in Aerospace and Defense, anticipating gradual market recovery in the second half of fiscal 2021.
Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on March 4, 2021, to shareholders on record as of February 2, 2021. The ex-dividend date is February 1, 2021. This reflects Carpenter's commitment to returning value to its shareholders while maintaining its leadership in high-performance specialty alloys for diverse markets including aerospace and medical.
Carpenter Technology Corporation (NYSE: CRS) will host a conference call and webcast on January 28, 2021, at 10:00 a.m. ET to discuss its second quarter fiscal 2021 financial results, which ended December 31, 2020. This event will follow the release of the financial results prior to market opening on the same day. Interested participants can join the call at +1 412-317-9259 or access the webcast live at ir.carpentertechnology.com.