Carpenter Tech Q1 EPS $0.88 beats; FY operating income guidance $310-330M

CARPENTER TECHNOLOGY CORP

2024-Q1 EPS reported $0.88 revenue$651,900,000

Diluted EPS $0.88, net income $43.9M, vs loss of $0.14 per share in prior-year Q1.
Operating income $69.0M, up 10% sequentially; SAO segment margin improved to 19.4% from 16.8%.
Net sales $651.9M ($492.8M ex-surcharge); cash from ops $7.4M vs ($78.0M) a year ago.
Q2 FY2024 operating income guided at $66-72M; full-year operating income expected $310-330M.
CEO cites record backlog, productivity gains, and expects 28-35% H2 operating income growth vs H1.

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