Carpenter Technology (NYSE:CRS – Get Free Report) posted its quarterly earnings results on Wednesday. The basic materials company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18, Briefing.com reports. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The company had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.82 million. During the same period last year, the company posted $1.88 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year.
Here are the key takeaways from Carpenter Technology’s conference call:
- Carpenter reported a record quarterly operating income of $186.5M and generated $193.5M cash from operations ($124.8M adjusted FCF in the quarter), raising FY26 adjusted free cash flow guidance to at least $350M while continuing share repurchases and the dividend.
- The Specialty Alloys Operations (SAO) segment hit a record 35.6% adjusted operating margin
- Demand is accelerating in key end markets — notably aerospace & defense (structural bookings increased significantly) and industrial gas turbines (energy) — with more urgent/expedite requests as OEM inventories draw down, supporting near‑term volume upside.
- The PEP segment and medical end‑use were weak: medical sales fell 29% YoY (PEP operating income modest at $6.7M), with certain titanium medical products still soft despite improved bookings pointing to a potential gradual recovery.
- The Brownfield capacity expansion remains on budget and on schedule, but timing of cash payments shifted ~ $40M of FY26 CapEx into next year (FY26 CapEx now expected ~ $260M); management will update FY27 guidance next quarter.
Carpenter Technology Stock Performance
NYSE:CRS opened at $406.20 on Thursday. The company has a fifty day moving average of $403.50 and a 200-day moving average of $349.77. The firm has a market capitalization of $20.23 billion, a P/E ratio of 47.18, a P/E/G ratio of 1.65 and a beta of 1.24. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. Carpenter Technology has a twelve month low of $188.12 and a twelve month high of $459.18.
Carpenter Technology Announces Dividend
More Carpenter Technology News
Here are the key news stories impacting Carpenter Technology this week:
- Positive Sentiment: EPS and profitability beat — CRS reported EPS of $2.77 vs. consensus $2.59 and $1.88 a year ago, reflecting higher margins and operating leverage. Carpenter Technology (CRS) Surpasses Q3 Earnings and Revenue Estimates
- Positive Sentiment: Record operating income and segment margins — the company delivered record quarterly operating income, specialty alloys adjusted operating margin at a record 35.6%, and said aerospace & defense demand is accelerating; management exceeded segment guidance. Carpenter Technology Reports Third Quarter Fiscal Year 2026 Results
- Positive Sentiment: Very strong cash flow and improved outlook — CRS generated $193.5M cash from operations and $124.8M adjusted free cash flow, and raised its operating income and adjusted FCF outlook for FY2026. Strong cash makes buybacks/deleveraging or reinvestment more likely. Carpenter Technology Reports Third Quarter Fiscal Year 2026 Results
- Neutral Sentiment: Revenue mixed — revenue was $655.6M (up 11.6% YoY) but materially below the consensus ~$797.8M, indicating unit/quantity weakness even as pricing/mix drove margins. That leaves some ambiguity on sustainability of growth. Carpenter (CRS) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
- Negative Sentiment: Top‑line miss and valuation risk — the sizable revenue shortfall versus Street expectations increases short‑term downside risk if future demand softens; at a high P/E (~47x) the stock is sensitive to any slowdowns. Carpenter (CRS) Q3 2026 Earnings Call Transcript
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on CRS shares. Wells Fargo & Company started coverage on shares of Carpenter Technology in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 price target on the stock. BTIG Research raised their price target on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. KeyCorp raised their price target on shares of Carpenter Technology from $380.00 to $453.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Susquehanna began coverage on shares of Carpenter Technology in a research note on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $403.11.
Get Our Latest Analysis on Carpenter Technology
Insider Buying and Selling at Carpenter Technology
In related news, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president owned 73,739 shares of the company’s stock, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the transaction, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,300 shares of company stock valued at $8,664,044 in the last quarter. 2.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Carpenter Technology
Hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock worth $514,687,000 after purchasing an additional 192,533 shares during the period. Invesco Ltd. raised its stake in Carpenter Technology by 18.8% in the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock valued at $652,241,000 after acquiring an additional 327,302 shares during the period. SurgoCap Partners LP raised its stake in Carpenter Technology by 29.5% in the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after acquiring an additional 272,896 shares during the period. Ameriprise Financial Inc. raised its stake in Carpenter Technology by 20.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock valued at $154,840,000 after acquiring an additional 107,552 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Carpenter Technology by 111.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock valued at $151,731,000 after acquiring an additional 325,919 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.
About Carpenter Technology
Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.
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