Carpenter Tech Q3 adj. op income $90M record; raises Q4 guidance to $110-115M

CARPENTER TECHNOLOGY CORP

2024-Q3 EPS reported $1.85 revenue$1,961,100,000

Q3 net sales $684.9M; adj. EPS $1.19 vs $0.38 a year ago.
SAO segment op income $103.5M, up 24% sequentially; margin 21.4%.
FY2024 adj. op income guidance raised to $339-344M (most profitable year).
Pull forward FY2027 op income target of $460-500M to FY2026.
Generated $61.9M adj. free cash flow in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARPENTER TECHNOLOGY CORP updated its fiscal year 2024 guidance (raised).

Period: fiscal year 2024
Guidance: raised
Result: guidance update

Exact text from the filing

With the fourth quarter guidance, we are projecting $339 million to $344 million in adjusted operating income for fiscal year 2024, which would be the most profitable year for the Company on record.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARPENTER TECHNOLOGY CORP updated its fourth quarter of fiscal year 2024 guidance (raised).

Period: fourth quarter of fiscal year 2024
Guidance: raised
Result: guidance update

Exact text from the filing

Building on our operating momentum, we are raising our guidance for the fourth quarter of fiscal year 2024 and expect operating income in the range of $110 million to $115 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARPENTER TECHNOLOGY CORP updated its fiscal year 2026 guidance (raised).

Period: fiscal year 2026
Guidance: raised
Result: guidance update

Exact text from the filing

Pulling forward goal to achieve $460 million to $500 million in operating income from fiscal year 2027 to fiscal year 2026

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARPENTER TECHNOLOGY CORP reported fiscal third quarter ended March 31, 2024 results: revenue $684.9 million, net income $6.3 million, EPS $0.12.

Period: fiscal third quarter ended March 31, 2024
Revenue: $684.9 million
Net income: $6.3 million
EPS: $0.12
Result: reported results

Exact text from the filing

Financial Highlights Q3 Q2 Q3 ($ in millions, except per share amounts) FY2024 FY2024 FY2023 Net sales $ 684.9 $ 624.2 $ 690.1 Net sales excluding surcharge (a) $ 553.8 $ 485.3 $ 491.5 Operating income $ 75.9 $ 69.8 $ 39.3 Adjusted operating income excluding special item (a) $ 90.0 $ 69.8 $ 39.3 Net income $ 6.3 $ 42.7 $ 18.6 Earnings per diluted share $ 0.12 $ 0.85 $ 0.38 Adjusted earnings per diluted share (a) $ 1.19 $ 0.85 $ 0.38 Net cash provided from operating activities $ 83.4 $ 14.6 $ 4.3 Adjusted free cash flow (a) $ 61.9 $ (10.7 ) $ (16.2 ) (a)

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Source: SEC EDGAR

accession 0001193125-24-130672

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