Carpenter Technology公布2026财年四季度财报并上调2027财年经营利润展望

Delivered Another Record Operating Income in Fourth Quarter
Drove Adjusted Quarterly Operating Margins in Specialty Alloys Operations Segment
to Record 37.8 Percent
Fiscal Year 2026 Most Profitable Year in Company History; 34 Percent Higher than Fiscal Year 2025
Generated $605.0 Million of Cash from Operating Activities in Fiscal Year 2026;
$362.3 million of Adjusted Free Cash Flow
Announced Fiscal Year 2027 Outlook and Fiscal Year 2029 Target for Operating Income
PHILADELPHIA, July 30, 2026 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced financial results for the fiscal fourth quarter and year ended June 30, 2026. For the quarter, the Company reported operating income of $206.9 million, and earnings per diluted share of $3.23.
Fourth Quarter Highlights
Delivered $206.9 million of operating income, a record quarterly result, up 11 percent sequentially and 37 percent year-over-year
Realized earnings per diluted share of $3.23
Generated $240.1 million of cash from operating activities and $155.0 million of adjusted free cash flow
Exceeded expectations in Specialty Alloys Operations (
“
SAO
”
) segment with operating income of $229.7 million, up 10 percent sequentially and 38 percent year-over-year
Delivered record adjusting operating margin of 37.8 percent in the SAO segment, up from 35.6 percent in the previous quarter and 30.5 percent a year ago
Executed $45.2 million in share repurchases in the quarter
Fiscal Year 2026 Highlights
Completed most profitable year on record, with $702.0 million of adjusted operating income in fiscal year 2026, up 34 percent over fiscal year 2025
Generated $605.0 million of cash from operating activities and $362.3 million of adjusted free cash flow for fiscal year 2026
Increased net sales excluding surcharge 15% year-over-year in Aerospace and Defense end-use market
Executed $179.1 million of stock repurchases in fiscal year 2026 against $400.0 million share repurchase program
Outlook
Expect fiscal year 2027 operating income to be in the range of $850 million to $880 million, representing a 21 percent to 25 percent increase over fiscal year 2026 operating income
Expect to generate $400 million to $430 million in adjusted free cash flow in fiscal year 2027
For first quarter of fiscal year 2027, anticipate between $195 million to $200 million in operating income
Well positioned for continued growth beyond fiscal year 2027 with strong market demand outlook for our broad portfolio of specialized solutions, increasing productivity, optimizing product mix and pricing actions
Set medium-term target for operating income between $1.2 billion to $1.3 billion in fiscal year 2029
“Carpenter Technology delivered another record quarter, generating $206.9 million of operating income in the fourth quarter of fiscal year 2026,” said Tony R. Thene, Chairman, President and CEO of Carpenter Technology. “This completes the most profitable year in the Company’s history, realizing $702.0 million in operating income, up 34 percent over fiscal year 2025 adjusted operating income. The profitability improvement was accompanied by meaningful cash generation, reflecting the higher earnings and continued discipline in working capital management.”
“The SAO segment drove the results, exceeding expectations with $229.7 million of operating income in the quarter and reaching adjusted operating margins of 37.8 percent, both significant increases over the previous quarter. Margin expansion was driven by a combination of continued productivity gains, pricing realization across both long-term and transactional business, and improved product mix. These factors enabled SAO to deliver its strongest quarterly operating performance to date.”
“This is truly an exciting time to be part of Carpenter Technology. Over the last several years, the Company has fundamentally transformed itself, becoming stronger, more focused, and more profitable. We remain confident in our strategy, which has driven our transformation and positions us well to capture even greater opportunities ahead. We are focused on serving attractive, high-value end-use markets with applications where performance matters and failure is simply not an option.”
“With the record fiscal year 2026 now complete, we are establishing the fiscal year 2027 operating income outlook to be in the range of $850 million to $880 million, which represents a 21 percent to 25 percent increase over fiscal year 2026 results. This outlook reflects the strength of the demand environment, our ability to execute, and the continued benefits of productivity improvements, product mix optimization, and favorable pricing actions. With our outlook for strong growth, we expect to generate approximately $400 million to $430 million of adjusted free cash flow, demonstrating our ability to convert earnings into cash while continuing to invest in the business.”
“Looking beyond fiscal year 2027, we have introduced a fiscal year 2029 operating income target of $1.2 billion to $1.3 billion. This target reflects the continued strength of the underlying demand environment, the contribution from our brownfield capacity expansion project, and our confidence in Carpenter Technology’s ability to deliver sustained earnings growth. We believe this outlook represents one of the strongest growth trajectories in our industry, and we do not see fiscal year 2029 as the peak of our earnings power.”
“The combination of our current performance, visible growth opportunities, and long-term strategic positioning creates a compelling value creation story. We are delivering record results today, we have a clear path to significant earnings growth over the next several years, and we are positioned to create substantial long-term value for our shareholders. Most importantly, we believe our greatest opportunities remain ahead of us.”
Financial Highlights
Q4
Q4
YTD
YTD
($ in millions, except per share amounts)
FY2026
FY2025
FY2026
FY2025
Net sales
$
851.0
$
755.6
$
3,124.2
$
2,877.1
Net sales excluding surcharge (a)
$
679.7
$
623.7
$
2,527.5
$
2,346.1
Operating income
$
206.9
$
151.4
$
702.0
$
521.8
Adjusted operating income excluding special items (a)
$
206.9
$
151.4
$
702.0
$
525.4
Net income
$
162.4
$
111.7
$
529.8
$
376.0
Earnings per diluted share
$
3.23
$
2.21
$
10.52
$
7.42
Adjusted earnings per diluted share (a)
$
3.23
$
2.21
$
10.76
$
7.48
Net cash provided from operating activities
$
240.1
$
258.0
$
605.0
$
440.4
Adjusted free cash flow (a)
$
155.0
$
201.3
$
362.3
$
287.5
(a) non-GAAP financial measures explained in the attached tables
Net sales for the fourth quarter of fiscal year 2026 were $851.0 million compared with $755.6 million in the fourth quarter of fiscal year 2025, an increase of $95.4 million (or 13 percent), on 22 percent higher shipment volume. Net sales excluding surcharge were $679.7 million, an increase of $56.0 million (or 9 percent) from the same period a year ago.
Operating income for the fourth quarter of fiscal year 2026 was $206.9 million compared to operating income of $151.4 million in the prior year period. Earnings per diluted share for the fourth quarter of fiscal year 2026 was $3.23 compared to $2.21 per diluted share in the prior year quarter. These results compared to the prior year reflect ongoing improvement in product mix, higher realized prices, as well as expanded operating efficiencies.
Cash provided from operating activities in the fourth quarter of fiscal year 2026 was $240.1 million, compared to $258.0 million in the same quarter last year. Adjusted free cash flow in the fourth quarter of fiscal year 2026 was $155.0 million, compared to $201.3 million in the same quarter last year. The decrease in operating cash flow and adjusted free cash flow in the fourth quarter of fiscal year 2026 reflects higher earnings offset by working capital needs and increased capital expenditures, primarily due to the brownfield expansion compared to the prior year period. Capital ex