Carpenter Technology Corp (CRS) News & EventsCRSCarpenter Technology Corp

Carpenter Technology Reports Q1 Revenue of $798.2M

Reports Q1 revenue $798.2M, consensus $830.69M. "Carpenter Technology delivered another strong quarter, generating $196.4 million of operating income in the first quarter of fiscal year 2027," said Tony Thene, chairman, president and CEO of Carpenter Technology. "This was the most profitable first quarter in the Company's history, up 28 percent over the first quarter of fiscal year 2026, establishing a strong foundation for the rest of the fiscal year. The results, driven by productivity improvements, mix management and the benefits of pricing actions, were impressive for a quarter with increased preventive maintenance activities. Specifically, the SAO segment delivered $216.3 million of operating income and adjusted operating margin of 37.7 percent in the quarter, both significant increases over the previous year first quarter."

Carpenter Technology Executive James Dee Retires, Jed Freeman Appointed

Carpenter Technology announced that James Dee, senior VP, general counsel and secretary, has elected to retire effective December 31, after sixteen years of service to the company. Jed Freeman, who has served the company for nineteen years and currently serves as deputy general counsel, has been appointed VP, general counsel and secretary, effective January 1, 2027. Dee will remain with the company through December 31 to support an orderly transition.

Carpenter Technology Approves Additional $1B Share Repurchase Program

Carpenter Technology announced that its Board of Directors has authorized an additional share repurchase program of up to $1B of the company's outstanding common stock. In August, the company repurchased the remaining $119M of shares available under its previously authorized $400M share repurchase program.