Carpenter Technology (NYSE: CRS) reported Q2 EPS of $0.73, $0.07 better than the analyst estimate of $0.66. Revenue for the quarter came in at $556.5 million versus the consensus estimate of $555.33 million.

“Our quarter results mark our best second quarter performance since fiscal year 2013 as solid commercial execution and market demand patterns drove strong financial results,” said Tony Thene, Carpenter Technology’s President and CEO. “Our broad market diversity and solutions-focused approach is unlocking new customer and market opportunities, which is demonstrated by our backlog growing 16% sequentially and 49% year-over-year.”

“Overall, demand levels across our end-use markets remain strong and four of our five end-use markets delivered year-over-year revenue growth. This includes Aerospace and Defense where we continue to benefit from our broad industry participation and the ongoing industry ramp. In addition, we are capturing incremental market share in the Medical end-use market through expanded relationships with leading industry OEMs who increasingly recognize the value of our high-end solutions.”

“Moving forward, our focus remains centered on the continued execution of our commercial strategy, unlocking incremental capacity via the Carpenter Operating Model and investing in the future. In the current quarter, we received three additional qualifications for our Athens facility and we continue to work closely with customers on advancing remaining qualifications for the facility, which represents the potential for incremental capacity for the industry. We also continue to focus on expanding our leadership position in additive manufacturing and soft magnetics where we are leveraging our healthy balance sheet to further expand our core capabilities. The investments we are making are critical to strengthening our long-term growth profile and ensuring our position as an irreplaceable solutions provider for our customers.”

For earnings history and earnings-related data on Carpenter Technology (CRS) click here.