Carpenter Technology reports Q2 EPS 13c, consensus 12c

Reports Q2 revenue $579.1M, consensus $523.25M. "The second quarter of fiscal year 2023 was a meaningful step on our path back to pre-pandemic levels and further long-term growth," said Tony Thene, President and CEO of Carpenter Technology. "Our return to profitability was driven by ongoing strong demand in each of our end-use markets, as evidenced by the continued growth of our backlog, and increased throughput across our manufacturing facilities. The Specialty Alloys Operations segment demonstrated continued improvement with operating income of $30.3 million for the second quarter of fiscal year 2023. The results for SAO were driven by the ongoing aerospace ramp and our focus on increasing our productivity and throughput. The Performance Engineered Products segment had another strong quarter with operating income of $9.3 million, led by our Dynamet Titanium and Additive businesses."