CARPENTER TECHNOLOGY CORP

Carpenter Technology Corporation announced the appointment of Ken J. Giacobbe to its Board of Directors, effective August 11, 2026. Mr. Giacobbe brings over 30 years of finance and executive leadership experience from the aerospace and advanced manufacturing industries, having previously served as CFO of Howmet Aerospace Inc. and Arconic Inc. Concurrently, Howard Yu notified the Board of his intention to step down as a director, effective October 6, 2026, and Colleen Pritchett decided not to run for re-election. Both departures were stated as not being due to any disagreements with the company.

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 September 3, 2026, to shareholders who are on record as of August 25, 2026.

Carpenter Technology Corporation announced the appointment of Ken Giacobbe to its Board of Directors, effective August 11, 2026. Mr. Giacobbe brings extensive financial leadership experience from his tenure as CFO of Howmet Aerospace and Arconic Inc. Additionally, Howard Yu will step down as a Director effective October 6, 2026, and Colleen Pritchett will not seek re-election at the 2026 Annual Stockholders' Meeting. These changes will result in the Board comprising 10 members, with 9 independent, after October 6, 2026.

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.

Carpenter Technology Corporation filed its annual 10-K report, detailing its business as a manufacturer and distributor of premium specialty alloys across two segments: Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). The report highlighted $27.7 million in R&D expenditures and $18.7 million in environmental operating costs for fiscal year 2026, alongside international sales of $1,300.0 million. The company also outlined various risk factors, including cyclical demand, raw material volatility, and cybersecurity threats, and noted its workforce of approximately 4,500 employees.

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.