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 Corporation (NYSE: CRS) will host an Investor Day on May 16, 2023, at 9:00 a.m. ET. This event aims to showcase the company's strategy, growth opportunities, and long-term outlook, featuring presentations from Tony Thene, President and CEO, along with other executives. A live webcast will be available, along with an archived replay on the company’s Investor Relations website.
Carpenter Technology, founded in 1889, specializes in high-performance specialty alloy-based materials for various critical industries, including aerospace, defense, and energy. The company is known for its premium specialty alloys, which include titanium and nickel, and it has advanced capabilities in additive manufacturing.
Carpenter Technology Corporation (NYSE: CRS) is set to hold a conference call and webcast on April 27, 2023, at 10:00 a.m. ET to discuss its third quarter fiscal 2023 results, which will be announced before market open on the same day. Carpenter Technology is a leader in specialty alloy-based materials for various critical applications, including aerospace and medical sectors. The company focuses on premium specialty alloys such as titanium and nickel, as well as additive manufacturing solutions. The call will provide insights into the company's financial performance and strategic directions.
Carpenter Technology Corporation (NYSE: CRS) reported its fiscal Q2 2023 results, showing a net income of $6.2 million or $0.13 EPS, a significant turnaround from a loss of $0.61 per share the previous year. Net sales surged 46% year-over-year to $579.1 million, powered by a 17% rise in shipment volume. The Specialty Alloys Operations segment contributed operating income of $30.3 million, fueled by demand in aerospace. Despite negative free cash flow of $113.7 million, liquidity stood at $237 million. The company expressed confidence in growth, anticipating increased sales momentum and improved margins.
Carpenter Technology Corporation (NYSE: CRS) announced a quarterly cash dividend of $0.20 per share, set to be paid on March 2, 2023, to shareholders of record by January 31, 2023. The ex-dividend date is January 30, 2023. Carpenter Technology specializes in high-performance specialty alloy-based materials, serving sectors such as aerospace, defense, and medical. Established in 1889, the company has made significant advancements in premium specialty alloys and additive manufacturing solutions, aiming to enhance materials innovation and streamline production processes.
Carpenter Technology Corporation (NYSE: CRS) will host a conference call and webcast on January 26, 2023, at 10:00 a.m. ET to discuss its second quarter fiscal 2023 results ending December 31, 2022. The financial results will be released before the market opens on the same day. Interested parties can join the live call at +1 412-317-9259, or access the webcast at ir.carpentertechnology.com. Carpenter Technology focuses on high-performance specialty alloy-based materials across various industries.
Carpenter Technology Corporation (NYSE: CRS) announced a price increase effective November 15, 2022, raising base prices by 7% to 12% on new non-contract orders for most of its premium products. This decision aims to offset rising costs associated with production and supply chain dynamics. The company, established in 1889, specializes in high-performance specialty alloy materials for various sectors including aerospace and medical. All applicable surcharges will remain in place alongside the price adjustments.
Carpenter Technology Corporation (NYSE: CRS) reported its Q1 fiscal 2023 results, showing a 10% sequential and 155% year-over-year increase in backlog. Net sales rose 35% year-over-year to $522.9 million, driven by strong demand, particularly in the Aerospace and Defense sectors. However, the company experienced a net loss of $6.9 million, translating to a loss of $0.14 per share, an improvement from a loss of $0.31 in the previous year. The operating income was positive at $8.3 million, reflecting improved market conditions and operational efficiency.
Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, payable on December 1, 2022, to shareholders of record on October 25, 2022. The ex-dividend date is set for October 24, 2022. This dividend signifies the company's commitment to returning value to its shareholders.
Founded in 1889, Carpenter Technology specializes in high-performance specialty alloy-based materials, serving critical sectors including aerospace and medical. The company has made significant strides in additive manufacturing to enhance its product offerings.
Carpenter Technology Corporation (NYSE: CRS) reaffirmed its outlook for fiscal year 2023 and assessed the impact of Hurricane Ian on its Q1 2023 results. The company aims to achieve operating income at fiscal 2019 levels by Q4 2023. The Specialty Alloy Operations (SAO) segment is expected to report operating income between $19.5 million and $20.0 million, while the Performance Engineered Products (PEP) segment's operating income is forecasted at $6.0 million to $6.5 million due to delayed shipments. EPS for Q1 2023 is anticipated to range from ($0.16) to ($0.14).
Carpenter Technology Corporation (NYSE: CRS) will host a conference call on October 27, 2022, at 10:00 a.m. ET to discuss its first-quarter fiscal 2023 results, covering the period ending September 30, 2022. The financial results will be released before the market opens on the same day. Investors can join the live call at +1 412-317-9259 or access the webcast at ir.carpentertechnology.com. Carpenter Technology specializes in high-performance specialty alloy materials and innovative solutions for various industries including aerospace, defense, and energy.
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