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 (CRS) is a global leader in premium specialty alloys and engineered materials for critical applications across aerospace, defense, energy, and medical industries. This dedicated news hub provides investors and industry professionals with comprehensive access to CRS's latest developments.
Track official press releases, financial announcements, and operational updates in one centralized location. Key coverage includes quarterly earnings, advanced material innovations, strategic partnerships, and manufacturing advancements. Our curated feed ensures timely access to CRS's progress in powder metallurgy, alloy development, and global supply chain initiatives.
Bookmark this page for direct access to Carpenter Technology's verified corporate communications, including regulatory filings and leadership updates. For stakeholders monitoring specialty metals markets, this resource offers essential insights into CRS's role in high-performance materials engineering.
Carpenter Technology Corporation (NYSE: CRS) reported strong financial results for the third quarter ended March 31, 2023, with net income of $18.6 million, translating to earnings per share (EPS) of $0.38, a significant recovery from a loss of $0.16 in the same quarter last year. Net sales reached $690.1 million, a 41% increase from $489.0 million year-over-year, driven by a 15% rise in shipment volumes. Excluding surcharges, net sales were $491.5 million, up 33% year-over-year. Operating income surged to $39.3 million compared to just $1.1 million in the prior year. Despite the positive results, adjusted free cash flow was negative at $26.0 million, indicating higher working capital needs. The company anticipates achieving an operating income of $54-60 million in Q4 2023, supported by increased productivity and demand across its markets.
On April 25, 2023, Carpenter Technology (NYSE: CRS) announced a price increase of 7% to 12% on new, non-contract orders for most of its premium products. This change will take effect for all new orders placed after this date, while existing applicable surcharges will remain unchanged. Carpenter Technology is a leader in specialty alloy-based materials for various industries including aerospace and medical sectors, and has been in operation since 1889. The company is known for its advancements in additive manufacturing and premium specialty alloys.
Carpenter Technology Corporation (NYSE: CRS) has announced a quarterly cash dividend of $0.20 per share, set to be paid on June 1, 2023. This dividend is for shareholders who are on record as of May 2, 2023, with an ex-dividend date of May 1, 2023. Carpenter Technology is a leader in specialty alloy-based materials, serving critical industries such as aerospace, defense, and medical. The company’s extensive capabilities in premium specialty alloys and additive manufacturing solutions highlight its commitment to innovation and quality.
Carpenter Technology Corporation (NYSE: CRS) announced the successful completion of a $350 million syndicated credit facility on April 17, 2023, amending its existing credit agreement. This new facility extends the maturity to April 12, 2028, replacing the previous expiration date of March 31, 2024. The facility's size increased from $300 million to $350 million, accompanied by modifications to certain financial covenants, including a requirement for a consolidated net leverage ratio and maintaining a minimum interest coverage ratio. The agreement includes an Amended and Restated Security Agreement securing a substantial interest in the Company's personal property for the secured parties. Carpenter Technology specializes in high-performance specialty alloy-based materials across various critical sectors.
Carpenter Technology Corporation (NYSE: CRS) will host an Investor Day on May 16, 2023, at 9:00 a.m. ET. This event aims to showcase the company's strategy, growth opportunities, and long-term outlook, featuring presentations from Tony Thene, President and CEO, along with other executives. A live webcast will be available, along with an archived replay on the company’s Investor Relations website.
Carpenter Technology, founded in 1889, specializes in high-performance specialty alloy-based materials for various critical industries, including aerospace, defense, and energy. The company is known for its premium specialty alloys, which include titanium and nickel, and it has advanced capabilities in additive manufacturing.
Carpenter Technology Corporation (NYSE: CRS) is set to hold a conference call and webcast on April 27, 2023, at 10:00 a.m. ET to discuss its third quarter fiscal 2023 results, which will be announced before market open on the same day. Carpenter Technology is a leader in specialty alloy-based materials for various critical applications, including aerospace and medical sectors. The company focuses on premium specialty alloys such as titanium and nickel, as well as additive manufacturing solutions. The call will provide insights into the company's financial performance and strategic directions.
Carpenter Technology Corporation (NYSE: CRS) reported its fiscal Q2 2023 results, showing a net income of $6.2 million or $0.13 EPS, a significant turnaround from a loss of $0.61 per share the previous year. Net sales surged 46% year-over-year to $579.1 million, powered by a 17% rise in shipment volume. The Specialty Alloys Operations segment contributed operating income of $30.3 million, fueled by demand in aerospace. Despite negative free cash flow of $113.7 million, liquidity stood at $237 million. The company expressed confidence in growth, anticipating increased sales momentum and improved margins.
Carpenter Technology Corporation (NYSE: CRS) announced a quarterly cash dividend of $0.20 per share, set to be paid on March 2, 2023, to shareholders of record by January 31, 2023. The ex-dividend date is January 30, 2023. Carpenter Technology specializes in high-performance specialty alloy-based materials, serving sectors such as aerospace, defense, and medical. Established in 1889, the company has made significant advancements in premium specialty alloys and additive manufacturing solutions, aiming to enhance materials innovation and streamline production processes.
Carpenter Technology Corporation (NYSE: CRS) will host a conference call and webcast on January 26, 2023, at 10:00 a.m. ET to discuss its second quarter fiscal 2023 results ending December 31, 2022. The financial results will be released before the market opens on the same day. Interested parties can join the live call at +1 412-317-9259, or access the webcast at ir.carpentertechnology.com. Carpenter Technology focuses on high-performance specialty alloy-based materials across various industries.
Carpenter Technology Corporation (NYSE: CRS) announced a price increase effective November 15, 2022, raising base prices by 7% to 12% on new non-contract orders for most of its premium products. This decision aims to offset rising costs associated with production and supply chain dynamics. The company, established in 1889, specializes in high-performance specialty alloy materials for various sectors including aerospace and medical. All applicable surcharges will remain in place alongside the price adjustments.
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