Carpenter Technology Corp Stock Price, News & Analysis

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.

Carpenter Technology Corporation (NYSE: CRS) reported its Q1 fiscal 2023 results, showing a 10% sequential and 155% year-over-year increase in backlog. Net sales rose 35% year-over-year to $522.9 million, driven by strong demand, particularly in the Aerospace and Defense sectors. However, the company experienced a net loss of $6.9 million, translating to a loss of $0.14 per share, an improvement from a loss of $0.31 in the previous year. The operating income was positive at $8.3 million, reflecting improved market conditions and operational efficiency.

Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on December 1, 2022, to shareholders of record on October 25, 2022. The ex-dividend date is set for October 24, 2022. This dividend signifies the company's commitment to returning value to its shareholders.

Founded in 1889, Carpenter Technology specializes in high-performance specialty alloy-based materials, serving critical sectors including aerospace and medical. The company has made significant strides in additive manufacturing to enhance its product offerings.

Carpenter Technology Corporation (NYSE: CRS) reaffirmed its outlook for fiscal year 2023 and assessed the impact of Hurricane Ian on its Q1 2023 results. The company aims to achieve operating income at fiscal 2019 levels by Q4 2023. The Specialty Alloy Operations (SAO) segment is expected to report operating income between $19.5 million and $20.0 million, while the Performance Engineered Products (PEP) segment's operating income is forecasted at $6.0 million to $6.5 million due to delayed shipments. EPS for Q1 2023 is anticipated to range from ($0.16) to ($0.14).

Carpenter Technology Corporation (NYSE: CRS) will host a conference call on October 27, 2022, at 10:00 a.m. ET to discuss its first-quarter fiscal 2023 results, covering the period ending September 30, 2022. The financial results will be released before the market opens on the same day. Investors can join the live call at +1 412-317-9259 or access the webcast at ir.carpentertechnology.com. Carpenter Technology specializes in high-performance specialty alloy materials and innovative solutions for various industries including aerospace, defense, and energy.

Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on September 1, 2022, to shareholders of record as of August 23, 2022. The ex-dividend date is set for August 22, 2022. Carpenter Technology specializes in high-performance specialty alloys and offers solutions for critical sectors, including aerospace and defense. The company has expanded its capabilities in additive manufacturing to support innovation and production.

Carpenter Technology Corporation (NYSE: CRS) reported Q4 fiscal 2022 results, achieving net income of $2.6 million or $0.05 per diluted share, reversing from a loss of $57.1 million in the previous year. Adjusted earnings per share stood at $0.00, compared to a loss of $0.28.

Significantly, backlog surged 29% sequentially and 191% year-over-year, with net sales reaching $563.8 million, a 34% increase from last year. The company generated $106.9 million in operating cash flow and $64.6 million in free cash flow, marking a positive outlook for fiscal 2023 amid strong demand in Aerospace and Medical sectors.

Carpenter Technology Corporation (NYSE: CRS) will host a conference call and webcast on July 28, 2022, at 10:00 a.m. ET to discuss its fourth quarter fiscal 2022 results, which end on June 30, 2022. Financial results will be released before the market opens on the same day. The call can be accessed by phone at +1 412-317-9259 or via a webcast at the investor relations website. Carpenter Technology specializes in high-performance specialty alloys for various sectors, including aerospace and medical.

Carpenter Technology Corporation (NYSE: CRS) announced a price increase of 12% to 15% on new, non-contract orders for its premium products, effective from July 5, 2022. The company retains all applicable surcharges. Carpenter Technology is a leader in specialty alloys for various sectors, including aerospace, defense, and energy. Founded in 1889, it focuses on high-performance materials, including titanium and nickel alloys. For more details on the company's offerings, visit carpentertechnology.com.