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 ...

The steel industry, a pillar of industrial growth, is hamstrung by significant challenges as steel prices have experienced a sharp decline on a slowdown in end-market demand. Notably, U.S. steel prices have seen a significant downward correction this year after a strong run in late 2023 that extended into early 2024. Despite the industry's downturn, a few stocks are holding up well and look poised to run further. L.B. Foster Company (FSTR) , Carpenter Technology Corporation (CRS) and Gerdau S.A. (GGB) fit t ...

Solid Backlog & Strong Demand: In the third quarter of fiscal 2024, CRS's backlog increased 3% sequentially and 12% year over year, backed by strong booking growth. The company expects continued growth across its end-use markets, especially in Aerospace, Defense and Medical applications, which is expected to boost its fiscal 2024 results. Notably, Aerospace is gaining from the pickup in global travel. Demand continues to accelerate across all aerospace submarkets as the supply chain ramps up to meet steadil ...

Harmony Gold (HMY) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 51.7%. Over the past three months, Harmony Gold's consensus EPS estimate for the current year has increased 41.4%. The stock currently has a Zacks Rank #1 (Strong Buy). Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, which includes 6 individual stocks and currently sits at #35 in the Zacks Industry Rank. Thi ...

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 ...

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 ...