Carpenter Technology (CRS) Q4 Earnings & Sales Top Estimates
Zacks Investment Research | Aug 05, 2019 10:47PM ET
Carpenter Technology (NYSE:CRS) delivered adjusted net income of $48.9 million or $1.00 per share in the fourth quarter of fiscal 2019 (ended Jun 30, 2019), which beat the Zacks Consensus Estimate of 94 cents. Further, the figure was higher than the year-ago quarter’s net income of $42.8 million or 88 cents per share. Strong operational performance and healthy demand across key end-use markets led to the improvement in quarterly numbers.
Net sales of $641 million for the quarter rose 4% year over year and surpassed the Zacks Consensus Estimate of $628 million. Volumes were down 4% on a year-over-year basis.
Cost of goods sold in the reported quarter improved around 3% year over year to $519 million. Gross profit rose 7% year over year to $123 million in the reported quarter. Operating profit in the quarter was $68 million, advancing 13% from $60 million in the prior-year quarter. Operating margin was 10.6% in the quarter compared with 9.7% in the prior-year quarter. The company generated its strongest quarterly operating income performance since fiscal 2013.
Carpenter Technology Corporation Price, Consensus and EPS Surprise
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