Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 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 (State o ...

Financial Performance - Carpenter Technology achieved record adjusted operating income of $354.1 million for FY24, a 166% increase compared to FY23[11]. - Q4 FY24 net sales reached $798.7 million, up 40.6% year-over-year, with net sales excluding surcharge revenue at $635.8 million, a 75.8% increase from Q4 FY23[18]. - The SAO segment reported a 25.2% adjusted operating margin in Q4 FY24, up from 21.4% in Q3 FY24, driven by improved productivity and pricing actions[19]. - Q4 FY24 adjusted operating income reached $125.2 million, with an adjusted operating margin of 19.7%[43]. - Projecting operating income of $460 million to $500 million for FY25, pulling the original FY27 goal into FY25[32]. - Projecting $114 million to $120 million in operating income for Q1 FY25[41]. Cash Flow and Liquidity - Adjusted free cash flow for FY24 was $179.0 million, significantly up from a negative $67.6 million in FY23, with Q4 FY24 adjusted free cash flow at $142.4 million[25]. - The company generated $169.5 million in cash from operations in Q4 FY24, reflecting strong operational performance[13]. - Total liquidity at the end of Q4 FY24 was $547.9 million, providing a strong financial position for future investments[25]. - Anticipating adjusted free cash flow of $250 million to $300 million in FY25, representing approximately 85% conversion rate[32]. - Generated $142.4 million in adjusted free cash flow in Q4 FY24[46]. Market Segments - Aerospace and Defense and Medical markets contributed approximately 73% of net sales excluding surcharge in Q4 FY24, with sales in these segments increasing significantly[16]. Tax and Capital Expenditures - Carpenter Technology's effective tax rate ex. special items improved to 17.0% in Q4 FY24, down from 21.3% in Q3 FY24[18]. - Effective tax rate anticipated to be between 21-23% for FY25[48]. - Capital expenditures targeted at $125 million for FY25[34]. Growth Strategy - The company is pulling forward its FY27 earnings growth goal to FY25, indicating an accelerated growth strategy[27]. - Achieved over 60% of growth in the first year of the original four-year goal[32]. - Maintaining a share repurchase program of up to $400 million to offset dilution[33].

Carpenter Technology Corporation (CRS) reported adjusted earnings of $1.82 per share in fourth-quarter fiscal 2024, beating the Zacks Consensus Estimate of adjusted earnings of $1.52. It recorded adjusted earnings of 78 cents in the year-ago quarter. Including one-time items, the company reported earnings per share of $1.85 compared with the year-ago quarter's 78 cents. Net sales increased 5.4% year over year to $799 million in the reported quarter. The figure topped the Zacks Consensus Estimate of $764 mil ...

Carpenter Technology Corporation (NYSE:CRS) Q4 2024 Earnings Conference Call July 25, 2024 10:00 AM ET Company Participants John Huyette - VP of IR Tony Thene - President and CEO Tim Lain - SVP and CFO Conference Call Participants Gautam Khanna - TD Cowen Josh Sullivan - Benchmark Scott Deuschle - Deutsche Bank Andre Madrid - BTIG Phil Gibbs - KeyBanc Capital Markets Operator Good day, and welcome to the Carpenter Technology Fiscal Fourth Quarter and Full Year 2024 Earnings Call. [Operator Instructions] Ple ...

Below, we take a look at Carpenter Technology (CRS) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. 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 ...

This quarterly report represents an earnings surprise of 19.74%. A quarter ago, it was expected that this maker of stainless steels and special alloys would post earnings of $0.94 per share when it actually produced earnings of $1.19, delivering a surprise of 26.60%. Carpenter, which belongs to the Zacks Steel - Speciality industry, posted revenues of $798.7 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.50%. This compares to year-ago revenues of $758.1 million. The co ...

| --- | |-----------------------------------------------| | | | | | | | ADJUSTED EARNINGS PER DILUTED SHARE | | EXCLUDING SPECIAL ITEMS | | Three months ended June 30, 2024, as reported | | --- | --- | |---------|-------| | | | | | | | | | | | | | Diluted | | | Share* | | | $ | | | --- | --- | --- | --- | --- | |---------------------------------------------|-------------------|---------------------------|----------------------------|-------------| | NET SALES BY END-USE MARKET | June 30, \n2024 | Three Mont ...

Strong Fourth Quarter Adjusted Free Cash Flow Delivered $125.2 million of adjusted operating income, up 39 percent sequentially and a record quarterly result Realized adjusted earnings per diluted share of $1.82 Generated $169.5 million of cash from operating activities, or $142.4 million of adjusted free cash flow Increased net sales excluding surcharge 15 percent sequentially, driven by increased sales in Aerospace and Defense and Medical end-use markets Exceeded expectations in Specialty Alloys Operation ...

The market expects Carpenter Technology (CRS) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be r ...

PHILADELPHIA, July 09, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) plans to host a conference call and webcast on Thursday, July 25, 2024 at 10:00 a.m. ET to discuss the results of operations for the fourth quarter of fiscal year 2024, ended June 30, 2024. The call and webcast will follow the release of fourth quarter fiscal 2024 financial results before the market opens on Thursday, July 25, 2024. Conference Call and Webcast Details What: Carpenter Technology Fourth Quarter Fiscal ...