Carpenter Technology (CRS) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this maker of stainless steels and special alloys, should get reflected in its stock price. After all, empirical research shows a ...

Company Overview - Carpenter Technology (CRS) currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [4] Price Performance - Over the past week, CRS shares have increased by 4.93%, outperforming the Zacks Steel - Specialty industry, which rose by 3.64% [6] - In a longer time frame, CRS shares have shown a monthly price change of 34.15%, significantly higher than the industry's 5.5% [6] - Over the last quarter, shares of Carpenter Technology have surged by 66.01%, and over the past year, they have gained 136.79% [7] - In comparison, the S&P 500 has only moved 4.73% and 28.27% over the same periods [7] Trading Volume - The average 20-day trading volume for CRS is currently 729,919 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for CRS have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $3.95 to $4.31 [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions during the same period [10] Conclusion - Considering the positive price movements, trading volume, and earnings outlook, CRS is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a compelling option for investors seeking short-term gains [11]

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Carpenter Technology (CRS) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.Carpenter Technology is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank ...

A multi-industry industrial company, an aerospace supplier, and a building materials company all look like good values now.3M (MMM 1.64%), Carpenter Technology (CRS -1.36%), and Owens Corning (OC -0.32%) are vastly different stocks, but all three are attractive on a risk/reward basis. They each have a different investment case, so let's explore why they might suit a value investor's portfolio.3M is undervaluedThis industrial giant isn't the highest-quality company out there. After all, mediocre growth, decl ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:Hasbro (HAS) : This company which is engaged in the design, manufacture and marketing of games and toys, has seen the Zacks Consensus Estimate for its current year earnings increasing 10.4% over the last 60 days.Yelp (YELP) : This website which is engaged in providing information through online community offering social networking, has seen the Zacks Consensus Estimate for its current year earnings increasing 9.3% over the last 60 daysV ...

Investor Inquiries: Media Inquiries: John Huyette Heather Beardsley +1 610-208-2061 +1 610-208-2278 jhuyette@cartech.com hbeardsley@cartech.com Exhibit 99.1 CARPENTER TECHNOLOGY REPORTS THIRD QUARTER FISCAL YEAR 2024 RESULTS Generated Positive Free Cash Flow PHILADELPHIA – May 1, 2024 – Carpenter Technology Corporation (NYSE: CRS) (the "Company") today announced financial results for the fiscal third quarter ended March 31, 2024. For the quarter, the Company reported operating income of $75.9 million, and e ...

Carpenter Technology Corporation (CRS) reported earnings of $1.19 per share for third-quarter fiscal 2024, surpassing the Zacks Consensus Estimate of 94 cents. The bottom line marked a solid improvement of 213% from the adjusted earnings of 38 cents per share in the year-ago quarter. Despite a decline in revenues due to lower volumes, CRS achieved this earnings improvement courtesy of improved productivity, product mix optimization and pricing actions.Including special items, earnings were 12 cents per shar ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-5828 CARPENTER TECHNOLOGY CORPORATION (Exact name of Registrant as specified in its Charter) Delaware 23-0458500 ...

Financial Performance and Key Metrics Changes - The company reported exceptional third-quarter performance, beating guidance by approximately 18%, generating $90 million in adjusted operating income, which is a record high, up 29% from the previous quarter [3][58] - The fourth-quarter guidance has been raised to a range of $110 million to $115 million in operating income, marking an 8% increase over previous guidance and a 25% increase over the record third-quarter performance [3][82] - The expected adjusted operating income for fiscal year 2024 is projected to be between $339 million and $344 million, setting an annual earnings record for the company [3][82] Business Line Data and Key Metrics Changes - The SAO segment reported net sales of $483 million, up 16% sequentially, driven by a favorable product mix and pricing actions [7] - The PEP segment saw net sales of $94.6 million, an 8% sequential increase, with operating income rising to $9.2 million from $7.1 million in the previous quarter [21] - The SAO segment achieved an operating income of $103.5 million, more than doubling profitability from the same quarter last year, with an adjusted operating margin of 21.4% [42] Market Data and Key Metrics Changes - Sales to aerospace and defense customers accounted for 57% of total revenue, increasing 28% sequentially and 30% year-over-year [59] - Medical sales represented 15% of total revenue, increasing 15% sequentially and 35% year-over-year, marking another record quarter [77] - The backlog remains at record levels, up 3% sequentially and 12% year-over-year, currently at three times the pre-COVID level [46] Company Strategy and Development Direction - The company is committed to serving customers with high-value applications in high-growth markets, focusing on improving productivity, product mix optimization, and pricing actions [9][23] - The management sees a strong demand outlook for both near-term and long-term, particularly in aerospace, defense, and medical markets [5][9] - The company is pulling forward its FY '27 target by one year, indicating confidence in its growth trajectory [10][47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, stating that demand significantly outpaces supply, and they do not foresee any near-term impacts from supply chain disruptions [24] - The company anticipates continued strong demand across all subsegments of aerospace and defense, indicating a "super cycle" in the market [94] - Management highlighted that they are just beginning their earnings growth cycle, with expectations of exceeding current guidance [32][95] Other Important Information - The effective tax rate for the third quarter was 37.6%, with an adjusted rate closer to 21% due to benefits from prior year tax positions [20] - The company generated $61.9 million in free cash flow during the quarter, marking a significant improvement from previous periods [58][62] - The company is focused on maintaining a conservative approach to external guidance while executing on its growth plans [10][32] Q&A Session Summary Question: Discussion on various end markets within aerospace and defense - Management noted strong demand across all submarkets, including engines and fasteners, with significant growth expected [54] Question: Impact of lower production rates on 737 MAX and 787 - Management indicated no significant impact on order intake, with adjustments being made rather than cancellations [69] Question: Free cash flow yield expectations on new long-term guidance - Management emphasized that free cash flow will continue to be aligned with operating income, with ongoing updates expected [85] Question: Lead times and production expectations - Lead times remain extended at 65 weeks or more, reflecting strong demand and capacity constraints [87] Question: Opportunities in the aftermarket - Management highlighted that the aerospace and defense market is in a growth phase, with strong demand across all segments [94]