Carpenter Technology (CRS) Tops Q3 EPS by 25c ; Provides Outlook

Carpenter Technology (NYSE: CRS) reported Q3 EPS of $1.19, $0.25 better than the analyst estimate of $0.94. Revenue for the quarter came in at $684.9 million versus the consensus estimate of $707.73 million.

Fourth Quarter and Fiscal Year 2024 Outlook

Increasing guidance for the fourth quarter to $110 million to $115 million of operating income
Expecting to generate over $100 million in adjusted free cash flow in the fourth quarter of fiscal year 2024
Estimating $339 million to $344 million in adjusted operating income for fiscal year 2024; would achieve the most profitable year on record

Longer Term Fiscal Year 2027 Outlook

Pulling forward goal to achieve $460 million to $500 million in operating income from fiscal year 2027 to fiscal year 2026
Anticipate nearly 60 percent of growth towards this goal to be realized in fiscal year 2024
Strong market demand outlook for our broad portfolio of specialized solutions
Leading capabilities and capacity in place to achieve goal
Expanding capacity via higher throughput while optimizing product mix

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

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