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Carpenter: Fiscal 1Q Earnings Snapshot

PHILADELPHIA (AP) _ Carpenter Technology Corp. (CRS) on Wednesday reported fiscal first-quarter net income of $31.5 million.

On a per-share basis, the Philadelphia-based company said it had net income of 65 cents.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The maker of stainless steels and special alloys posted revenue of $572.4 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $567.7 million.

Carpenter shares have risen 3 percent since the beginning of the year. The stock has increased 5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRS at https://www.zacks.com/ap/CRS