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Carpenter Technology (CRS)
NYSE:CRS
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
2.59Last Year’s EPS
1.88Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational and financial momentum: record quarterly operating income, sustained SAO margin expansion, significant aerospace order momentum, favorable pricing via long-term agreements, robust cash generation, strengthened liquidity and a brownfield expansion on schedule. Weaknesses were concentrated and manageable: sequential sales softness (timing/mix), a notable shortfall in the PEP/medical distribution channel, and near-term volatility in defense and energy order timing. Management raised FY2026 guidance and reiterated confidence in continued margin and earnings expansion, while noting some quarter-to-quarter variability driven by mix and industry supply constraints.Company Guidance
Record Quarterly Operating Income
Operating income of $155.2M in the quarter, a record and a 31% increase year-over-year. Adjusted diluted EPS was $2.33 for the quarter.
SAO Segment Margin Expansion and Record Profitability
SAO adjusted operating margin reached a record 33.1% (versus 28.3% a year ago and 32.0% last quarter). SAO operating income was $174.6M, up 29% year-over-year and a new all-time high. This marked the sixteenth consecutive quarter of margin expansion.
Top-Line Growth Year-over-Year
Total sales excluding raw material surcharge increased 8% year-over-year, driven by a ~5% increase in volume year-over-year.
Strengthening Aerospace Demand and Order Momentum
Bookings for the aerospace & defense end-use market increased 8% sequentially; commercial aerospace bookings rose 23% sequentially; aerospace engine order intake increased 30% sequentially—the fourth consecutive quarter of sequential aerospace order increases.
Pricing Tailwind and Long-Term Agreements
Pricing continued to be a positive tailwind; company completed three additional long-term agreements with aerospace customers in the quarter featuring significant price increases, and management expects pricing actions to remain favorable given supply-demand dynamics.
Improved Gross Profit
Gross profit increased to $218.3M, up 23% year-over-year and slightly up sequentially, reflecting productivity, product mix optimization and pricing benefits.
Strong Cash Generation and Capital Allocation
Generated $132.2M cash from operations; spent $46.3M on CapEx; adjusted free cash flow of $85.9M in the quarter. Company expects at least $280M of adjusted free cash flow for fiscal 2026, repurchased $32.1M of shares in the quarter (total $183.1M to date vs $400M authorization), and continues a recurring dividend.
Balance Sheet and Liquidity Strengthened
Refinanced long-term debt to extend maturities to 2034 and reduce interest, increased revolving credit facility from $350M to $500M, and ended the quarter with total liquidity of $730.8M (cash $231.9M + $498.9M available borrowings). Net debt/EBITDA remains well below 1x.
Brownfield Capacity Expansion On Track
Brownfield expansion (new vacuum induction melting furnace) is on budget and on schedule. Project plans to add ~9,000 tons (~7% vs 2019 shipments). FY26 CapEx guidance includes $175M–$185M for the expansion and total CapEx guidance of $300M–$315M.
Raised Fiscal 2026 Earnings Guidance
Management raised full-year fiscal 2026 operating income guidance to $680M–$700M (implying a ~30%–33% increase versus record fiscal 2025).
CRS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CRS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | $331.61 | $310.39 | -6.40% |
Oct 23, 2025 | $244.65 | $300.10 | +22.66% |
Jul 31, 2025 | $283.00 | $248.83 | -12.07% |
Apr 24, 2025 | $190.31 | $198.96 | +4.55% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Carpenter Technology (CRS) report earnings?
Carpenter Technology (CRS) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is Carpenter Technology (CRS) earnings time?
Carpenter Technology (CRS) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRS EPS forecast?
CRS EPS forecast for the fiscal quarter 2026 (Q3) is 2.59.