Welcome to our dedicated page for Carpenter Technology news (Ticker: CRS), a resource for investors and traders seeking the latest updates and insights on Carpenter Technology stock.
Carpenter Technology Corporation (NYSE: CRS) is a global leader in high-performance specialty alloy-based materials and process solutions, serving critical applications across numerous industries including aerospace, defense, medical, transportation, energy, and industrial markets. Founded in 1889, the company has evolved to become a pioneer in premium specialty alloys such as titanium, nickel, and cobalt. Carpenter Technology is renowned for its innovative materials solutions tailored to meet the ever-changing needs of diverse sectors.
Headquartered in Philadelphia, with operations in North America, Europe, and Asia, Carpenter Technology specializes in the development, manufacturing, and distribution of a wide range of specialty loose powder metallurgy and cast/wrought alloys. The product lineup includes high-strength steels, corrosion-resistant alloys, nickel-based superalloys, magnetic alloys, controlled expansion and electronic alloys, as well as stainless and specialty steels. The acquisition of Latrobe Specialty Metals in 2012 further bolstered the company's capabilities.
The company operates through two primary segments: Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). The SAO segment, which generates the majority of the revenue, encompasses Carpenter's major premium alloy and stainless steel manufacturing operations, primarily conducted at mills located in Reading and Latrobe, Pennsylvania, and in South Carolina and Alabama. The PEP segment includes the Dynamet titanium business, Carpenter Additive, and the Latrobe and Mexico distribution businesses, all managed with an entrepreneurial structure to quickly respond to market dynamics.
Carpenter Technology has a strong focus on sustainable and advanced manufacturing processes, including additive manufacturing (AM) and soft magnetics applications. With ISO9001:2008 certification, the company ensures high standards of quality across its operations.
In fiscal year 2024, Carpenter Technology reported significant financial milestones, including a 25% increase in net sales year-over-year, driven by higher sales prices and improved end-use market conditions. The company also achieved notable operating income improvements and positive cash flow from operating activities.
Looking ahead, Carpenter Technology is well-positioned to continue its growth trajectory, with projections indicating substantial increases in operating income and productivity. The company's strategic focus on innovative materials, productivity enhancements, and market-driven solutions underscores its commitment to delivering value to shareholders and meeting the evolving demands of its global customer base.
For the latest updates and information, visit www.carpentertechnology.com.
Carpenter Technology (NYSE: CRS) has appointed Julie A. Beck to its Board of Directors, effective February 20, 2025, expanding the board to 12 members with 11 independent directors. Beck brings extensive financial leadership experience from major manufacturing companies, most recently serving as Senior Vice President and CFO of Terex , a global manufacturer of materials processing machinery.
Beck's previous roles include CFO positions at NOVA Chemicals and Joy Global's Mining Machinery subsidiary, where she also served as Global VP of Supply Chain, Operational Excellence, and Quality. She has significant board experience, having served on audit committees for several public companies and nonprofit boards. The appointment aims to leverage her manufacturing expertise and financial acumen to support Carpenter Technology's growth strategy and shareholder returns.
Carpenter Technology (NYSE: CRS) reported strong financial results for Q2 FY2025, with record second-quarter operating income of $118.9 million, up 70% year-over-year. The company achieved earnings per diluted share of $1.66 and generated $67.9 million in operating cash flow.
The Specialty Alloys Operations segment delivered impressive performance with $135.6 million in operating income and an adjusted operating margin of 28.3%, up from 20.0% in the previous year. The company executed $8.2 million in share repurchases against a $400.0 million authorization.
Looking ahead, Carpenter has increased its FY2025 outlook, projecting operating income between $500-520 million and adjusted free cash flow of $250-300 million. The company will host a virtual Investor Update Event on February 18, 2025, to discuss future growth prospects and market demand trends.
Carpenter Technology (NYSE: CRS) has announced its Board of Directors' declaration of a quarterly cash dividend of $0.20 per share of common stock. The dividend will be payable on March 6, 2025, to shareholders of record as of January 28, 2025.
Carpenter Technology, established in 1889, is a leading manufacturer of high-performance specialty alloy-based materials and process solutions. The company specializes in premium specialty alloys, including titanium, nickel, and cobalt, along with materials engineered for additive manufacturing processes and soft magnetics applications. Their products serve critical applications across various sectors, including aerospace, defense, medical, transportation, energy, industrial, and consumer electronics markets.
Carpenter Technology (NYSE: CRS) has announced a conference call and webcast scheduled for Thursday, January 30, 2025, at 10:00 a.m. ET. The event will discuss the company's second quarter fiscal 2025 operational results for the period ended December 31, 2024.
The financial results will be released before market opening on the same day. Interested parties can access the live call at +1 412-317-9259, while both live and archived versions of the webcast will be available at ir.carpentertechnology.com.
Carpenter Technology, established in 1889, is a leading manufacturer of high-performance specialty alloy materials, including nickel, cobalt, and titanium, serving critical applications across aerospace, defense, medical, transportation, energy, and industrial sectors.
Carpenter Technology (NYSE: CRS) reported strong first quarter fiscal 2025 results with record operating income of $113.6 million and earnings per share of $1.67. The company's adjusted operating income reached $117.2 million, up 70% year-over-year. The Specialty Alloys Operations segment delivered exceptional performance with operating income of $134.5 million, up 66% year-over-year, and improved operating margin of 26.3%. Net sales were $717.6 million, a 10% increase from the previous year. The company executed $32.1 million in share repurchases and expects full-year operating income to be at the high end of $460-500 million range, with projected adjusted free cash flow of $250-300 million.
Carpenter Technology (NYSE: CRS) has announced the appointment of Howard Yu to its Board of Directors, effective October 9, 2024. Yu brings over 25 years of financial leadership experience in multinational organizations. He currently serves as Executive Vice President and Chief Financial Officer at Ball , a supplier of sustainable aluminum packaging solutions.
Prior to his current role, Yu was Senior Vice President and CFO at Envista, a global company spun off from Danaher. During his 22-year career with Danaher and Envista, Yu held CFO positions for multiple global divisions, leading successful M&A and systems transformations across varied economic environments. He previously worked in finance at Hewlett-Packard and as Senior Auditor at Deloitte.
Martin Inglis, Chairman of Carpenter Technology's Board, expressed confidence that Yu's extensive leadership experience and financial acumen will significantly benefit the company as it accelerates growth and delivers shareholder returns.
Carpenter Technology (NYSE: CRS) has announced a quarterly cash dividend of $0.20 per share of common stock. The dividend will be payable on December 5, 2024, to shareholders of record on October 22, 2024. Carpenter Technology, founded in 1889, is a leader in high-performance specialty alloy-based materials and process solutions for critical applications across various industries including aerospace, defense, medical, transportation, energy, industrial, and consumer electronics. The company specializes in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys engineered for additive manufacturing processes and soft magnetics applications.
Carpenter Technology (NYSE: CRS) has announced a conference call and webcast scheduled for Thursday, October 24, 2024, at 10:00 a.m. ET. The event will discuss the company's first quarter fiscal year 2025 results, covering the period ended September 30, 2024. Financial results will be released before the market opens on the same day.
Interested parties can access the live call at +1 412-317-9259, while a live and archived webcast will be available at ir.carpentertechnology.com. Carpenter Technology, founded in 1889, is a leader in high-performance specialty alloy materials and process solutions for critical applications across various industries, including aerospace, defense, medical, transportation, energy, and industrial markets.
The company specializes in premium specialty alloys including nickel, cobalt, and titanium, as well as material process capabilities to address current and future customer challenges.
Carpenter Technology (NYSE: CRS) has announced a quarterly cash dividend of $0.20 per share of common stock. The dividend will be payable on September 5, 2024, to shareholders of record on August 27, 2024. The ex-dividend date is set for August 26, 2024.
Carpenter Technology, founded in 1889, is a leader in high-performance specialty alloy-based materials and process solutions for critical applications across various industries, including aerospace, defense, medical, and energy. The company has established itself as a pioneer in premium specialty alloys and materials engineered for additive manufacturing and soft magnetics applications.
Carpenter Technology (NYSE: CRS) reported strong financial results for Q4 and FY 2024. Key highlights include:
- Q4 adjusted operating income of $125.2 million, up 39% sequentially
- Q4 adjusted EPS of $1.82
- FY 2024 adjusted operating income of $354.1 million, up 166% YoY
- Q4 adjusted free cash flow of $142.4 million
- FY 2025 operating income guidance of $460-500 million
- New $400 million share repurchase program authorized
The company exceeded Q4 guidance and delivered its most profitable year ever. Strong performance was driven by increased sales in Aerospace & Defense and Medical markets, improved productivity, and pricing actions. Carpenter is pulling forward its financial goals by 2 years, targeting FY 2025 for previously stated FY 2027 objectives.
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