CARPENTER TECHNOLOGY CORP

Carpenter Technology reported its most profitable year in company history for fiscal year 2026, with adjusted operating income reaching $702.0 million, a 34% increase over fiscal year 2025. The fourth quarter of fiscal year 2026 also set a record for operating income at $206.9 million, up 37% year-over-year, with diluted EPS of $3.23. The Specialty Alloys Operations segment achieved a record adjusted operating margin of 37.8%. The company provided a strong outlook, projecting fiscal year 2027 operating income between $850 million and $880 million and targeting $1.2 billion to $1.3 billion by fiscal year 2029.

Carpenter Technology Corporation reported record financial results for the fourth quarter and full fiscal year 2026. Q4 FY26 operating income rose 37% year-over-year to $206.9 million, with the SAO segment achieving a record adjusted operating margin of 37.8%. The company generated $155.0 million in adjusted free cash flow and repurchased $45.2 million in shares during the quarter. For fiscal year 2026, adjusted operating income hit a record $702 million. Looking ahead, Carpenter Technology projects FY27 operating income to increase by 21-25% to $850 million-$880 million and targets FY29 operating income of $1.2 billion-$1.3 billion, driven by accelerating demand and brownfield capacity expansion.

Carpenter Technology announced the sudden and unexpected passing of its President and Chief Executive Officer, Brian J. Malloy, on July 24, 2026. Following this, the Board of Directors appointed Tony R. Thene to return to his previous roles as Chief Executive Officer, President, and Chairman of the Board, effective July 26, 2026. Mr. Thene had previously served as the company's CEO from 2015 through June 2026.

Carpenter Technology Corporation reported record operating income of $186.5 million for the third quarter of fiscal year 2026, a 20% sequential increase and 35% year-over-year. The Specialty Alloys Operations (SAO) segment was a key driver, achieving record operating income of $208.0 million and an adjusted operating margin of 35.6%. The company also generated strong cash flow and increased its full-year fiscal 2026 operating income and adjusted free cash flow guidance, citing accelerating demand in the Aerospace and Defense market.

CARPENTER TECHNOLOGY CORP reported record operating income of $186.5 million and diluted EPS of $2.77 for Q3 FY26, driven by strong execution, higher productivity, and favorable pricing. The company saw robust demand in Aerospace & Defense and Energy markets, with Aerospace & Defense sales increasing 13% sequentially. CRS generated $124.8 million in adjusted free cash flow in Q3 and expects FY26 operating income to be $700-$705 million and adjusted free cash flow around $350 million.

CARPENTER TECHNOLOGY CORP reported strong financial results for the three months ended March 31, 2026, with net sales increasing to $811.5 million and net income rising to $139.6 million. Diluted earnings per share also saw a significant increase to $2.77. The company also completed a debt refinancing, issuing $700.0 million in new senior notes and repaying existing debt, and experienced substantial growth in net cash provided from operating activities for the nine-month period.

CARPENTER TECHNOLOGY CORP reported strong Q3 2026 results with net income increasing 46.3% to $139.6 million and net sales rising 11.6% to $811.5 million. For the nine months, net income grew 38.9% to $367.4 million. The company also completed a significant debt refinancing, issuing $700.0 million in 5.625% Senior Notes due 2034 and repaying existing notes.

CARPENTER TECHNOLOGY CORP (CRS) reported strong financial results for the third quarter ended March 31, 2026, with net income increasing by 46.3% to $139.6 million and diluted EPS rising by 47.3% to $2.77. Net sales grew by 11.6% to $811.5 million. The company also completed a $700.0 million senior notes offering, using the proceeds to repay existing debt and extending the maturity of its credit facility to November 2030. Operating cash flow significantly improved, more than doubling to $364.9 million for the nine-month period.

Carpenter Technology Corporation's Board of Directors expanded its size from 11 to 12 members on April 13, 2026. Brian J. Malloy was appointed to fill the new vacancy as a Class III director, effective July 1, 2026. Concurrently, Mr. Malloy, currently President and COO, will assume the role of President and Chief Executive Officer, while current CEO Tony R. Thene will transition to Executive Chairman of the Board, both effective July 1, 2026.

Carpenter Technology Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock. The dividend is scheduled to be paid on June 4, 2026, to shareholders who are on record as of April 28, 2026. This action reflects the company's ongoing commitment to returning value to its shareholders.