Carpenter Technology Q1 Earnings & Revenues Top Estimates, Rise Y/Y

Carpenter Technology Corporation CRS reported adjusted earnings of $1.73 per share for first-quarter fiscal 2025, beating the Zacks Consensus Estimate of adjusted earnings of $1.57. It had posted an adjusted earnings of 88 cents in the year-ago quarter.Including one-time items, the company reported earnings per share of $1.67 compared with the year-ago quarter’s 88 cents.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net revenues increased 10.1% year over year to $718 million in the reported quarter. The upside was driven by a 3% year-over-year increase in shipment volume. The figure beat the Zacks Consensus Estimate of $708 million.Carpenter Technology Corporation Price, Consensus and EPS Surprise Carpenter Technology Corporation price-consensus-eps-surprise-chart | Carpenter Technology Corporation QuoteCRS witnessed a year-over-year revenue increase of 34.1% in the Aerospace and Defense end-use market. Revenues in the Energy end-market were down 27.7%. The metric for the Medical end-use markets rose 10.2%. Revenues in the Distribution markets decreased 22.9%, whereas the same for Industrial and Consumer end-use markets increased 8.8%. The Transportation end-use market’s revenues rose 34.9%.CRS’ Q1 Operational ResultsCost of goods sold in first-quarter fiscal 2025 moved up 2.6% year over year to $541 million. The gross profit increased 42.1% year over year to $176 million. Adjusted operating income in the reported quarter was $117 million compared with the prior-year quarter’s $69 million. Adjusted operating margin in the quarter under review was 15.8% compared with 10.6% in the year-ago quarter.Carpenter Technology’s Q1 Segmental PerformanceThe Specialty Alloys Operations segment reported sales of $645 million compared with the prior-year quarter’s $570 million. We predicted the segment’s sales to be $618 million. The segment sold 50,100 pounds compared with the year-ago quarter’s 49,992 pounds. However, the reported figure missed our estimate of 51,052 pounds. The segment posted an operating profit of $134.5 million compared with the prior-year quarter’s $80.8 million. Our estimate for the segment’s operating profit was $131.7 million.The Performance Engineered Products’ net sales fell 1% year over year to $101 million. The reported figure missed our estimate of $108 million. The segment sold 2,634 pounds compared with the year-ago quarter’s 2,302 pounds. It was higher than our projection of 2,323 pounds. The segment reported an operating profit of $7.3 million compared with the prior-year quarter’s $9.1 million. Our estimate for the segment’s operating profit was $10.6 million.CRS’ Cash Flow & Balance Sheet UpdatesCarpenter Technology ended first-quarter fiscal 2025 with cash and cash equivalents of $150 million compared with $199 million at the end of fiscal 2024. The long-term debt was $694.5 million at the end of the quarter compared with $694.2 million as of the end of fiscal 2024. Cash flow from operating activities was $40.2 million in the quarter under review compared with $7.4 million in the prior-year quarter.Carpenter Technology’s Share Price PerformanceShares of the company have gained 148.7% in the past year compared with the industry’s growth of 67.2%.Image Source: Zacks Investment ResearchCRS’ Zacks RankCarpenter Technology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Peer PerformanceWorthington Steel, Inc. WS reported adjusted earnings per share of 56 cents in the first quarter of fiscal 2025 (ended Aug. 31, 2024), beating the Zacks Consensus Estimate of 50 cents. However, the bottom line fell 56% year over year.Worthington Steel’s net revenues in the reported quarter came in at $834 million compared with the year-ago quarter’s $906 million. The reported figure surpassed the Zacks Consensus Estimate of $722 million.Commercial Metals Company CMC reported adjusted earnings per share of 90 cents for fourth-quarter fiscal 2024 (ended Aug. 31, 2024), missing the Zacks Consensus Estimate of 91 cents. The bottom line fell from the prior-year quarter’s $1.58.Net revenues of CMC in the reported quarter were around $2 billion compared with the year-ago quarter’s $2.21 billion. The reported figure missed the Zacks Consensus Estimate of $2.07 billion.Steel - Speciality Stock Awaiting ResultsATI Inc. ATI, scheduled to release third-quarter fiscal 2024 results on Oct. 29, has a trailing third-quarter average surprise of 7.4%. The Zacks Consensus Estimate for ATI’s third-quarter  fiscal 2024 earnings is pegged at 66 cents per share, implying year-over-year growth of 20%.The Zacks Consensus Estimate for the company’s top line is pegged at $1.13 billion, indicating growth of 9.9% from the prior-year reported figure.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ATI Inc. (ATI): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report Worthington Steel, Inc. (WS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks