Carpenter Technology Corp. (CRS) Thursday reported second-quarter profit of $33.0 million or $0.62 per share, up from $23.6 million or $0.52 per share in the prior-year quarter.
On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.61 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter increased to $533.5 million from $431.1 million last year. Analysts expected revenues of $537.25 million.
Revenues excluding surcharge was $430.7 million, compared to $330.3 million last year.
Looking ahead the company forecast a full year operating income improvement of 20 to 30 percent, backed by a strong second half revenues.
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