Carpenter Technology Corp. (CRS) reported second-quarter net income of $3.5 million or $0.08 per share compared to $29.8 million or $0.68 per share a year ago.
On average, 8 analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share for the quarter.
Analysts' estimates typically exclude special items.
Net sales decreased to $263.8 million from $361.8 million last year. Analysts expected the company to report revenue of $266.83 million for the quarter.
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