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.
Carpenter Technology Corporation (NYSE: CRS) will host a conference call and webcast on April 28, 2022, at 10:00 a.m. ET to discuss its third quarter fiscal 2022 results, which end on March 31, 2022. The financial results will be released prior to the market opening on the same day. Interested participants can join the live call at +1 412-317-9259 or tune in to the webcast available on the company's investor relations site.
Founded in 1889, Carpenter Technology is a leader in specialized alloy materials for critical sectors like aerospace, defense, and medical applications.
Carpenter Technology Corporation (NYSE: CRS) announced a price increase of 12% to 15% on new, non-contract orders for its specialty alloy products, effective for orders placed after March 22, 2022. This decision underscores Carpenter Technology's response to rising costs and market demands while maintaining existing surcharges. The company is recognized for its high-performance specialty alloy materials used in various critical applications, including aerospace and defense.
Carpenter Technology Corporation (NYSE: CRS) has priced an offering of $300 million in 7.625% senior unsecured notes due 2030. The notes will close on March 16, 2022, subject to customary conditions. Net proceeds will be used to redeem the company's 4.450% senior notes due 2023. J.P. Morgan Securities LLC acts as the lead book-running manager. This offering is made under an effective shelf registration with the SEC and is not an offer or solicitation for the notes.
Carpenter Technology Corporation (NYSE: CRS) has initiated an underwritten public offering of senior notes to repay its 4.450% senior notes due 2023. The offering is subject to market conditions, with J.P. Morgan Securities LLC acting as the lead book-running manager. This offering will utilize an automatically effective shelf registration statement filed with the SEC, and additional details will be available through the preliminary prospectus. The offering does not constitute an offer to sell or solicit buying of the notes in any jurisdiction where such actions are unlawful.
Carpenter Technology Corporation (NYSE: CRS) has announced the successful return to service of its 4500 ton press in Reading, PA, which had been offline since December 2021. The press is crucial for producing aerospace materials. Repairs were completed on schedule, allowing the company to address customer demands in the recovering aerospace supply chain. Carpenter Technology is optimistic about its ability to leverage this operational capacity to grow in diversified markets.
Carpenter Technology Corporation (NYSE: CRS) announced leadership updates on February 21, 2022. Brian Malloy has been appointed Senior Vice President and Group President of the Performance Engineered Products (PEP) segment, responsible for safety, growth, operational performance, and marketing, building on his interim leadership since July 2021. Marshall Akins has been promoted to Vice President and Chief Commercial Officer to oversee commercial strategies and market development. These changes aim to enhance growth and operational efficiency within Carpenter Technology’s specialty alloy operations.
Carpenter Technology Corporation (NYSE: CRS) reported a net loss of $29.4 million for Q2 FY2022, equating to a loss of $0.61 per diluted share. Adjusted loss per share was $0.58. Despite operational challenges, the company experienced a 14% increase in net sales to $396 million year-over-year, driven by demand in the Medical, Transportation, and Industrial markets. The backlog rose 35% sequentially and 106% year-over-year. Operational headwinds included employee isolations due to COVID-19 and supply chain disruptions. Total liquidity stood at $391.6 million.
Carpenter Technology Corporation (NYSE: CRS) will have its CEO, Tony Thene, present at the Cowen Aerospace/Defense & Industrials Conference on February 9, 2022, at 1:30 PM ET. The presentation will be available via webcast on their investor relations website, with a replay accessible afterward. Carpenter Technology is a leader in specialty alloy-based materials for various critical industries, including aerospace and medical, and has enhanced its additive manufacturing capabilities to boost innovation.
Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on March 3, 2022, to shareholders of record on February 1, 2022. The ex-dividend date is set for January 31, 2022. Carpenter Technology specializes in high-performance specialty alloy materials for various critical sectors, including aerospace, defense, and medical. Founded in 1889, the company is known for its innovations in titanium, nickel, and cobalt alloys, among others.
Danimer Scientific has appointed Michael Hajost as the new Chief Financial Officer, effective March 2022. He will succeed Jad Dowdy, who transitions to Senior Vice President of Financial Planning and Analysis. Hajost brings over 30 years of experience, previously serving as CFO for Strategic Materials and Accuride Corporation, where he significantly increased revenues. The management change aims to strengthen Danimer’s financial strategies as it aims to capitalize on the growing bioplastics market.