Carpenter Tech Q2 EPS $0.85, Inline, Sales $624.20M Miss $657.10M Estimate
Portfolio Pulse from Benzinga Newsdesk
Carpenter Technology Corporation (NYSE:CRS) reported Q2 earnings per share (EPS) of $0.85, which was in line with analyst estimates, marking a significant increase from $0.13 per share in the same quarter last year. However, the company's sales of $624.20 million fell short of the expected $657.10 million, a 5.01% miss, though it was a 7.79% increase from the previous year's sales.
January 25, 2024 | 1:04 pm
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Carpenter Tech reported Q2 EPS of $0.85, meeting estimates, with a 553.85% increase from last year, but missed sales estimates by 5.01%, reporting $624.20M against an expected $657.10M.
While Carpenter Tech met EPS estimates, which could be seen as a positive indicator of the company's profitability, the miss on sales estimates could raise concerns about growth and demand, potentially offsetting the positive EPS news. The stock price impact in the short term is likely to be neutral as the market digests both the positive and negative aspects of the earnings report.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100