U.S. Markets open in 3 hrs 2 mins

Carpenter: Fiscal 4Q Earnings Snapshot

PHILADELPHIA (AP) _ Carpenter Technology Corp. (CRS) on Thursday reported fiscal fourth-quarter net income of $42.8 million.

The Philadelphia-based company said it had profit of 88 cents per share. Earnings, adjusted for non-recurring gains, were 87 cents per share.

The results beat Wall Street expectations. The average estimate of five 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 $618 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $593.5 million.

For the year, the company reported profit of $188.5 million, or $3.92 per share. Revenue was reported as $2.16 billion.

Carpenter shares have climbed 12 percent since the beginning of the year. The stock has increased 41 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