earnings
confidence high
sentiment neutral
materiality 0.70
Carpenter Tech reaffirms FY23 outlook; Q1 prelim EPS loss ($0.16)-($0.14) from Hurricane Ian
CARPENTER TECHNOLOGY CORP
2023-Q1 EPS reported
-$0.14
revenue$522,900,000
- SAO segment operating income $19.5-20.0M, upper end of prior $18-20M guidance.
- PEP segment operating income $6.0-6.5M, below $7-9M guidance due to Hurricane Ian at Dynamet facility.
- Total operating income expected $7.5-8.5M for Q1 fiscal 2023; EPS range ($0.16)-($0.14).
- FY23 operating income target of FY2019 levels by Q4 reaffirmed; order entry drives backlog growth.
- Corporate costs ~$18.0M, interest $12.6M, effective tax rate 12-13%.