Q3 2026 Carpenter Technology Corp Earnings Call Transcript

Apr 29, 2026 / 02:00 PM GMT

Release Date Price: €372.8 (+2.50%)

Transcript 8-K8-K10-Q

Key Points

Positve

Carpenter Technology Corp (CRS) reported record earnings with a 20% increase in operating income from the previous quarter.
The company achieved a significant expansion in operating margins, with the SAO segment reaching a record 35.6% margin.
There is strong and accelerating demand in the aerospace and defense markets, with increased bookings for aerospace structural materials.
Carpenter Technology Corp (CRS) generated $193.5 million in cash from operating activities and $124.8 million in adjusted free cash flow.
The company has a strong balance sheet with a net debt-to-EBITDA ratio well below 1x, supporting continued growth and shareholder returns.

Negative

Sales in the Medical end-use market were down 9% sequentially and 29% compared to the prior year third quarter.
The company faces challenges with supply chain ordering not keeping pace with demand, leading to urgent delivery requests.
There is a potential for lead times to extend further in the near term due to increasing demand.
The energy market, particularly oil and gas, remains subdued, with growth primarily driven by industrial gas turbines.
Capital expenditures for fiscal year 2026 are expected to be lower than initially anticipated due to changes in cash spending estimates.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRS.N - Carpenter Technology Corp
Q3 2026 Carpenter Technology Corp Earnings Call
Apr 29, 2026 / 02:00PM GMT

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Conference Call Participants
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* John Huyette
* Tony Thene
* Timothy Lain
* Brian Malloy
* Gautam Khanna
* Scott Deuschle
* Joshua Sullivan
* Bennett Moore
* Andre Madrid
* Samuel McKinney
* David Strauss

=====================
Presentation
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Operator [1]
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Hello, and welcome. My name is Ellie, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Carpenter Technology CRS Third Quarter Fiscal Year 2026 Earnings Presentation Call. Please note that this call is being recorded. [Operator Instructions] I would now like to hand the call over to John Huyette, Vice President of Investor Relations.

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