Carpenter Technology Reports Record Q4 Earnings, Forecasts Strong Fiscal 2027 Growth
Carpenter Technology Corporation (NYSE:CRS) reported record fourth-quarter operating income of $206.9 million for fiscal 2026, a 37% increase year over year and surpassing its previous quarterly high set in Q3. The company's Specialty Alloys Operations segment achieved an adjusted operating margin of 37.8%, the highest on record. Aerospace and defense sales rose by 17% compared to last year, driven by strong demand across key markets. The firm forecasts fiscal 2027 operating income between $850 million and $880 million, representing a projected growth of approximately 21-25%. Additionally, Carpenter Technology announced that Tony Thene has been reappointed as CEO indefinitely following the unexpected death of Brian Malloy. The company's Brownfield expansion project remains on track for completion in fiscal 2028 and is expected to add roughly $150 million annually by fiscal 2030. Carpenter Technology also highlighted disciplined operational execution, with gross profit rising 26% year over year to $268.9 million while SG&A expenses remained stable at around $62 million.
Tickers: $CRS
Topics: aerospace and defense demand capital expansion earnings leadership change