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Carpenter Technology Corp. Q4 adjusted earnings Beat Estimates

Carpenter Technology Corp. (CRS) released earnings for its fourth quarter that increased from last year.

The company's bottom line came in at $42.8 million, or $0.88 per share. This compares with $25.5 million, or $0.54 per share, in last year's fourth quarter.

Excluding items, Carpenter Technology Corp. reported adjusted earnings of $42.1 million or $0.87 per share for the period.

Analysts had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.7% to $618.0 million from $507.7 million last year.

Carpenter Technology Corp. earnings at a glance:

-Earnings (Q4): $42.1 Mln. vs. $27.6 Mln. last year.
-EPS (Q4): $0.87 vs. $0.58 last year.
-Analysts Estimate: $0.74
-Revenue (Q4): $618.0 Mln vs. $507.7 Mln last year.

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