Financial Performance - Carpenter Technology reported quarterly earnings of $1.73 per share, exceeding the Zacks Consensus Estimate of $1.57 per share, and up from $0.88 per share a year ago, representing an earnings surprise of 10.19% [1] - The company posted revenues of $717.6 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.32%, compared to $651.9 million in the same quarter last year [1] Stock Performance - Carpenter shares have increased approximately 121.4% since the beginning of the year, significantly outperforming the S&P 500's gain of 21.5% [2] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating expectations for continued outperformance in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.37 on revenues of $710 million, while the estimate for the current fiscal year is $6.63 on revenues of $2.95 billion [4] - The trend for estimate revisions ahead of the earnings release was favorable, suggesting potential positive adjustments in earnings expectations [4] Industry Context - Carpenter Technology operates within the Steel - Specialty industry, which is currently ranked in the top 8% of over 250 Zacks industries, indicating a strong industry performance [5] - Another company in the same industry, Metallus, is expected to report a significant decline in earnings, with a forecast of $0.06 per share, down 88.5% year-over-year, and revenues expected to decrease by 21.4% [5]

Delivered Record First Quarter Operating Income Exceeded First Quarter Operating Income Guidance for Specialty Alloys Operations SegmentExpanded Operating Margins in Specialty Alloys Operations SegmentGenerated Positive Adjusted Free Cash FlowRepurchased Shares Against Authorized Share Repurchase ProgramStrengthening FY25 Outlook PHILADELPHIA, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced financial results for the fiscal first quarter ended Se ...

Core Viewpoint - Carpenter Technology Corporation (CRS) is expected to report first-quarter fiscal 2025 results on October 24, with projected revenues of $708.2 million, reflecting an 8.6% year-over-year growth, and earnings estimated at $1.57 per share, indicating a significant 78.4% increase from the previous year [1]. Financial Estimates - The Zacks Consensus Estimate for CRS's fiscal first-quarter revenues is $708.2 million, showing an 8.6% growth from the prior year [1]. - The earnings estimate for the first quarter is $1.57 per share, which has decreased by 1% over the past 60 days but still represents a 78.4% year-over-year increase [1]. - The current earnings estimates for fiscal 2025 are $6.63 for F1 and $7.39 for F2, with no changes in the last 60 days [2]. Earnings Surprise History - Carpenter Technology has a history of beating earnings estimates, with an average surprise of 15.9% over the last four quarters [3]. - The reported earnings for the last four quarters were consistently above estimates, with the most recent quarter showing a surprise of 19.74% [3]. Earnings Prediction Model - The current model does not predict an earnings beat for CRS, as the Earnings ESP is 0.00% despite a Zacks Rank of 1 (Strong Buy) [4][5]. Performance Factors - Growth in end-use markets, particularly in aerospace, defense, and medical applications, is expected to positively impact CRS's performance in fiscal 2025 [6]. - Demand in aerospace submarkets is anticipated to increase due to rising travel demand, although labor and chip shortages may pose challenges [6]. - Increased productivity, higher prices, and improved product mix are expected to mitigate some of the negative impacts on margins [6]. Segment Performance Expectations - Specialty Alloys Operations segment sales are projected to be $618 million, an 8.4% increase from the previous year, with an expected operating profit of $131.7 million [7]. - Performance Engineered Products segment net sales are estimated to rise by 6.1% year-over-year to $108 million, with an operating profit of $10.6 million [7]. Stock Performance - Carpenter Technology shares have outperformed the industry, gaining 161.5% over the past year compared to the industry's 77.5% growth [8].

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Carpenter Technology (CRS) due to higher revenues, with the actual results being crucial for stock price movement [1] Earnings Expectations - Carpenter Technology is expected to report quarterly earnings of $1.57 per share, reflecting a year-over-year increase of +78.4% [2] - Revenues are projected to be $708.22 million, which is an 8.6% increase from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has been revised 2.92% lower in the last 30 days, indicating a reassessment by analysts [3] Earnings Surprise Prediction - The Zacks Earnings ESP model shows that the Most Accurate Estimate matches the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% for Carpenter [4][6] - The stock holds a Zacks Rank of 1, indicating a strong buy, but this combination makes it challenging to predict an earnings beat [6] Historical Performance - In the last reported quarter, Carpenter exceeded the expected earnings of $1.52 per share by delivering $1.82, resulting in a surprise of +19.74% [7] - Over the past four quarters, Carpenter has beaten consensus EPS estimates three times [7] Conclusion - While Carpenter does not appear to be a compelling earnings-beat candidate, investors should consider other factors before making investment decisions [8]

From a technical perspective, Carpenter Technology (CRS) is looking like an interesting pick, as it just reached a key level of support. CRS recently overtook the 20-day moving average, and this suggests a short-term bullish trend. The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages. ...

PHILADELPHIA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) announced today that Howard Yu has been appointed to the Company's Board of Directors, effective October 9, 2024. Mr. Yu brings more than 25 years of financial leadership experience in large multinational organizations. Mr. Yu is currently the Executive Vice President, Chief Financial Officer for Ball Corporation, a supplier of innovative, sustainable aluminum packaging solutions for beverage, personal care and hous ...

Investors in Carpenter Technology Corporation (CRS) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $52.50 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the othe ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Carpenter Technology (CRS) . This company, which is in the Zacks Steel - Speciality industry, shows potential for another earnings beat. When looking at the last two reports, this maker of stainless steels and special alloys has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 23.1 ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With 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 that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

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