Carpenter Technology (NYSE: CRS) reported Q3 EPS of $1.05, $0.22 better than the analyst estimate of $0.83. Revenue for the quarter came in at $609.9 million versus the consensus estimate of $585.08 million.

• Reported earnings per share of $1.05
• Net Sales of $610 million; sequential and year-over-year revenue growth across key end-use markets
• Backlog up 9% sequentially and 44% year-over-year
• Athens facility received four additional qualifications

“Our third quarter results reflect the continued momentum we are driving across our core business as we delivered our ninth consecutive quarter of year-over-year earnings growth,” said Tony Thene, Carpenter Technology’s President and CEO. “Our strong operational performance and healthy demand across our key end-use markets drove sequential volume growth and richer product mix. Demand signals remain strong as backlog levels continue to increase, marking the eleventh consecutive quarter of growth. We also continue to progress with obtaining the necessary qualifications for our Athens facility and received four additional qualifications in the current quarter.”

“From a commercial perspective, we generated sequential sales growth across four of our five end-use markets during the third quarter, which demonstrates our ability to capitalize on emerging demand and gain market share. In addition, backlog increased 9% sequentially and 44% compared to last year. This includes Aerospace and Defense where backlog increased across all of our major sub-markets. Customer engagement levels related to Athens qualifications remain high and we are working diligently with our partners to secure additional approvals and provide critical incremental capacity for the industry. Other key commercial highlights in the quarter include the Medical market where we delivered robust sequential and year-over-year growth due to our high-value offerings and expanded direct customer relationships.”

“As we continue to drive our core business forward, we remain committed to maintaining a balance between executing in the short-term and investing for the long-term. Looking to the longer term, we continue to take innovative action in significant growth areas like soft magnetics and additive manufacturing to accelerate profitable revenue growth to deliver increasing value to shareholders in the years ahead.”

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