BuybackAug 12, 2026, 04:49 PM
Carpenter Tech Authorizes New $1.0B Share Buyback Program
AI Summary
Carpenter Technology Corporation's Board of Directors has authorized a new share repurchase program of up to $1.0 billion of its outstanding common stock. This follows the completion of its previous $400 million share repurchase program, with the remaining $119.0 million repurchased in August 2026. The company's Chairman, President, and CEO, Tony R. Thene, highlighted record results in fiscal year 2026 and a strong outlook for fiscal year 2027, supported by an accelerating demand environment and strategic investments.
Key Highlights
- Board authorized a new share repurchase program of up to $1.0 billion.
- Company repurchased the remaining $119.0 million under its previous $400 million program in August 2026.
- Management cited record results in fiscal year 2026 and significant growth outlook for fiscal year 2027.
- Brownfield capacity expansion project is expected to come online beginning in fiscal year 2028.
- Repurchases will be funded through cash generated from operations and available liquidity.
Price Impact
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