Carpenter Technology Posts Record FY26 Operating Income of $702M, Guides FY27 to $850M-$880M, and Authorizes $1B Buyback
CRS has more than doubled off its 52-week low of $228.
Summary
Carpenter Technology reported record FY26 results, guided FY27 operating income to $850M-$880M, and authorized a new $1B buyback. The board also added a new director and announced two departures.
Key Events · Earnings and Guidance · CRS
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Record FY26 Operating Income
Operating income reached $702.0 million, up 34% from FY25 adjusted operating income of $525.4 million. Net sales grew 9% to $3,124.2 million, driven by 15% growth in Aerospace and Defense.
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FY27 Guidance Raised
Management guided FY27 operating income to $850-$880 million, implying 21-25% growth over FY26. A FY29 target of over $1 billion was also set.
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$1B Share Repurchase Authorized
On August 11, 2026, the board authorized an additional $1.0 billion share repurchase program, effective immediately after the existing $400M program was nearly exhausted.
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Board Changes
Former Howmet Aerospace CFO Kenneth Giacobbe was appointed to the board. Two directors departed, though the filing does not name them.
Analysis · CRS · Manufacturing
Carpenter Technology delivered its most profitable year ever, with operating income jumping 34% to $702 million on 9% higher sales. Management guided FY27 operating income to $850-$880 million, implying another 21-25% growth year, and set a FY29 target above $1 billion. The board simultaneously authorized an additional $1 billion share repurchase program, signaling confidence in cash generation. The sudden passing of CEO Brian Malloy in July adds uncertainty, but the return of Tony Thene as CEO provides continuity. This filing establishes the financial baseline for the new fiscal year and confirms the company's strong momentum in aerospace and defense markets.
At the time of this filing, CRS was trading at $528.64 on NYSE in the Manufacturing sector, with a market capitalization of approximately $26.3B. The 52-week trading range was $228.00 to $625.99. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.