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Carpenter: Fiscal 2Q Earnings Snapshot

PHILADELPHIA (AP) _ Carpenter Technology Corp. (CRS) on Thursday reported fiscal second-quarter earnings of $35.5 million.

On a per-share basis, the Philadelphia-based company said it had profit of 73 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 76 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.

The maker of stainless steels and special alloys posted revenue of $556.5 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $570.7 million.

Carpenter shares have risen 27 percent since the beginning of the year. The stock has dropped 13 percent in the last 12 months.

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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