Carpenter Technology Corporation (CRS) Q1 FY2027 earnings

Reported results

• Operating income of $196.4 million (GAAP), up 28 percent year-over-year and down 5 percent sequentially
• Specialty Alloys Operations segment operating income of $216.3 million (GAAP), up 27 percent year-over-year and down 6 percent sequentially; adjusted operating margin of 37.7 percent (non-GAAP) in SAO segment
• Net sales of $798.2 million (GAAP), up 9 percent year-over-year; net sales excluding surcharge of $634.8 million (non-GAAP), up 5 percent year-over-year
• Earnings per diluted share of $3.25 (GAAP), compared to $2.43 in prior year first quarter
• Net cash provided from operating activities of $52.8 million (GAAP); free cash flow of negative $24.8 million (non-GAAP)
• Executed $133.9 million in share repurchases; $985.0 million remains available under the $1.0 billion repurchase program authorized in August 2026

Guidance

• Q2 FY2027 operating income guidance: $192 million to $197 million
• FY2027 operating income outlook: $850 million to $880 million, representing a 21 percent to 25 percent increase over FY2026 operating income
• FY2029 operating income target: $1.2 billion to $1.3 billion

Notes

The release distinguishes between GAAP and non-GAAP measures, particularly regarding surcharge revenue exclusion for operating margin calculations. Free cash flow is presented as a non-GAAP measure. SAO segment adjusted operating margin of 37.7 percent is calculated excluding surcharge revenue.

Price and volatility reaction

The stock moved -2.6% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -0.5 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.