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Carpenter: Fiscal 3Q Earnings Snapshot

PHILADELPHIA (AP) _ Carpenter Technology Corp. (CRS) on Thursday reported fiscal third-quarter profit of $51.1 million.

The Philadelphia-based company said it had net income of $1.05 per share. Earnings, adjusted for non-recurring gains, came to 87 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The maker of stainless steels and special alloys posted revenue of $609.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $605.7 million.

Carpenter shares have climbed 42 percent since the beginning of the year. The stock has increased roughly 1 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