Carpenter Technology (NYSE:CRS) Announces Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Posted by KOP Source Staff on May 2nd, 2024

Carpenter Technology (NYSE:CRS – Get Free Report) released its quarterly earnings results on Wednesday. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.25, Briefing.com reports. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. The company had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same quarter in the prior year, the firm posted $0.38 EPS. Carpenter Technology’s quarterly revenue was down .8% compared to the same quarter last year.

Carpenter Technology Trading Up 1.4 %

CRS stock traded up $1.39 during midday trading on Thursday, reaching $99.72. The company’s stock had a trading volume of 553,936 shares, compared to its average volume of 517,205. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.90. The stock has a fifty day simple moving average of $72.59 and a two-hundred day simple moving average of $68.55. Carpenter Technology has a 1 year low of $44.40 and a 1 year high of $100.21. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 34.02 and a beta of 1.47.

Carpenter Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Monday, April 22nd. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio is presently 27.68%.

Carpenter Technology Company Profile

(Get Free Report)

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.