Plus   Neg

Carpenter Technology Q2 Adj. Earnings Miss Estimates - Quick Facts

Carpenter Technology Corp. (CRS) on Thursday reported second-quarter net income of $38.8 million or $0.79 per share, up from $35.5 million or $0.73 per share in the year-ago period.

Excluding special items, adjusted earnings for the quarter was $0.83 per share, compared to $0.76 per share last year.

Net sales for the quarter increased 3 percent to $573.0 million from $556.5 million in the year-ago period, on 7 percent lower volume. Net sales excluding surcharge were $471.2 million, an increase of 5 percent from the same period a year ago.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.87 per share for the quarter on revenues of $576.2 million. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, the founder and CEO of Space Exploration Technologies, or SpaceX, said the aerospace company is planning to list its space internet venture, Starlink, after many years when revenue growth is smooth and predictable. In a tweet, Musk said, "We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic It's again that day of the year when coffee lovers celebrate their passion for the caffeinated beverage. It is National Coffee Day today in the U.S. when major food and beverage outlets nationwide promote the coffee culture with deals for coffee fans. In the U.S., major coffee outlets such as Starbucks, Dunkin' Donuts, Wawa, Krispy Kreme, Wendy's and Panera Bread give away free cups of coffee. The state of Ohio ordered General Motors to repay $28 million in tax credits after closing the Lordstown plant, which was in agreement to be operated until 2040. The Ohio Tax Credit Authority said the closure violated the terms of two economic development agreements signed by the company. In separate development, GM announced it is investing $71 million in two other Ohio manufacturing facilities.
Follow RTT