Revenue Update on Carpenter Technology Corporation(NYSE:CRS)

Carpenter Technology Corporation(NYSE:CRS) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $457.70M. Analysts estimated a revenue of $454.00M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.34.

Carpenter Technology Corporation (CRS) shares turned negative on Thursdays trading session with the shares closing down -0.75 points or -1.96% at a volume of 3,05,446. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $38.25. The peak price level was also seen at $38.25 while the days lowest was $37.29. Finally the shares closed at $37.52. The 52-week high of the shares is $40.46 while the 52-week low is $23.99. According to the latest information available, the market cap of the company is $1,748 M.

Carpenter Technology Corporation is engaged in the manufacture fabrication and distribution of specialty metals. It develops manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense energy transportation medical and industrial and consumer industries. The Company operates in two segments: Specialty Alloys Operations (SAO) comprises company’s alloy and stainless steel manufacturing operations and Performance Engineered Products (PEP) comprises company’s differentiated operations which include Dynamet titanium business Carpenter Powder Products business Amega West business Specialty Steel Supply business and Latrobe and Mexico distribution businesses. Its product line includes Special alloys Stainless steels Titanium products Powder metals and Alloy and tool steel.

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