Carpenter Tech Posts $162.5M First-Quarter Net Income
CRS sits 52% above its 52-week low of $240.47.
Summary
Carpenter Technology reported first-quarter net income of $162.5 million, with sales of $798.2 million, operating income of $196.4 million and EPS of $3.25, its first quarterly print since guiding FY27 operating income to $850M-$880M in late July. That $162.5M quarterly profit is a large number for a company this size and lands against a record FY26 base of $702M operating income, so the quarter reads as continued momentum rather than a stumble. The company maintained its FY27 outlook. The report follows a turbulent stretch: the sudden death of CEO Brian Malloy in July, the appointment of Tony Thene as CEO, and a $1B buyback authorization in August.
At the time of this announcement, CRS was trading at $365.13 on NYSE in the Manufacturing sector, with a market capitalization of approximately $18.2B. The 52-week trading range was $240.47 to $625.99. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.