---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-199106"
form_type: "8-K"
ticker: "CRS"
cik: "0000017843"
company_name: "CARPENTER TECHNOLOGY CORP"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:11:48.951560+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Carpenter Tech Q4 EPS $0.78, adj. op. income $62.9M; guides Q1 above prior year

## Summary
- Net income $38.4M ($0.78 diluted EPS) vs $2.6M ($0.05) in Q4 FY2022.
- Adjusted operating income $62.9M, up from $14.9M a year ago; SAO segment reached $80.0M (16.8% margin).
- Net sales excluding surcharge up 39% YoY to $560.0M; generated $144M adjusted free cash flow in Q4.
- Q1 FY2024 operating income guidance $61-67M, above the prior year's first quarter and historical seasonal decline.
- CEO states exceeded goal to return to FY2019 profitability run-rate by end of FY2023; on track to double FY2019 op. income by FY2027.

## SEC filing metadata
- accession: 0001193125-23-199106
- form_type: 8-K
- ticker: CRS
- cik: 0000017843
- company_name: CARPENTER TECHNOLOGY CORP
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/17843/000119312523199106/0001193125-23-199106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/17843/000119312523199106/d511145d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-199106
- JSON: https://secwatch.observer/filing/0001193125-23-199106.json
- Plain text: https://secwatch.observer/filing/0001193125-23-199106.txt

## Key facts
- Earnings Releases
  CARPENTER TECHNOLOGY CORP reported fiscal 2023 fourth quarter ended June 30, 2023 results: revenue $758.1, net income $38.4, EPS $0.78.
  - Period: fiscal 2023 fourth quarter ended June 30, 2023
  - Revenue: $758.1
  - Net income: $38.4
  - EPS: $0.78
  - Result: reported results
  source text: Net sales $ 758.1 $ 563.8 $ 2,550.3 $ 1,836.3 Net sales excluding surcharge (a) $ 560.0 $ 403.2 $ 1,848.0 $ 1,400.0 Operating income (loss) $ 62.9 $ 24.6 $ 133.1 $ (24.9 ) Adjusted operating income (loss) excluding special items (a) $ 62.9 $ 14.9 $ 133.1 $ (34.0 ) Net income (loss) $ 38.4 $ 2.6 $ 56.4 $ (49.1 ) Earnings (loss) per diluted share $ 0.78 $ 0.05 $ 1.14 $ (1.01 )
  evidence_url: https://www.sec.gov/Archives/edgar/data/17843/000119312523199106/0001193125-23-199106-index.htm
- Earnings Releases
  CARPENTER TECHNOLOGY CORP updated its first quarter of fiscal year 2024 guidance (reaffirmed).
  - Period: first quarter of fiscal year 2024
  - Guidance: reaffirmed
  - Result: guidance update
  source text: First Quarter Fiscal Year 2024 Outlook • Expect operating income to be in the range of $61 million to $67 million, in line with previous guidance • Expectations would exceed the operating income in the first quarter of fiscal year 2020, our most profitable first quarter in recent history, and be above the historical trend of a sequential seasonal decline in profits • With a strong first quarter, well positioned in fiscal year 2024 to take a meaningful step towards our long-term goal of doubling fiscal year 2019 operating income by fiscal year 2027 • Exceeding targeted productivity gains could accelerate earnings growth in fiscal year 2024 versus current projections
  evidence_url: https://www.sec.gov/Archives/edgar/data/17843/000119312523199106/0001193125-23-199106-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.