Carpenter Technology Q1 operating income rises 28%

• Carpenter Technology reported fiscal first-quarter 2027 operating income of $196.4 million, up 28% year over year, while sales increased 9% to $798.2 million.
• Diluted earnings per share increased to $3.25 from $2.43, although operating cash flow totaled $52.8 million and free cash flow was negative $24.8 million.
• Carpenter maintained its fiscal 2027 operating income guidance of $850 million–$880 million and expects second-quarter operating income of $192 million–$197 million.

Carpenter Technology (NYSE:CRS) reported fiscal first-quarter 2027 operating income of $196.4 million, up 28%, while sales increased 9% to $798.2 million.

Diluted earnings per share rose to $3.25 from $2.43 a year earlier, although operating income declined 5% sequentially.

Specialty Alloys Operations generated $216.3 million in operating income, with an adjusted operating margin of 37.7%.

Operating cash flow reached $52.8 million, while free cash flow was negative $24.8 million and share repurchases totaled $133.9 million.

Carpenter expects second-quarter operating income of $192 million–$197 million and maintained its fiscal 2027 forecast of $850 million–$880 million.

Planned preventive maintenance offset some benefits from productivity improvements, product mix and pricing during the quarter.

Carpenter previously reported fourth-quarter fiscal 2026 operating income of $206.9 million and annual operating income of $702 million, up 34%.