Carpenter Tech. Now Sees Q3 EPS Of $0.54 - $0.58 - Quick Facts

(RTTNews) - Carpenter Technology Corp. (CRS) said it currently expects third-quarter earnings per share to be in the range of $0.54 - $0.58. On average, 9 analysts polled by Thomson Reuters estimate earnings per share of $0.72 for the third quarter. Analysts' estimates typically exclude one-time items. These earnings include about $0.10 per share of non-recurring, weather-related energy expense.

The company's Chief Executive stated: "The impact of weather-related expense was roughly double what we expected and communicated in January. In addition, while Specialty Alloys Operations realized double digit sequential quarterly volume growth, this gain was less than we expected in January."

Looking ahead, the firm expects to return to positive cash generation after the third quarter. The company also said in a statement, "As our production lead times have increased in several key manufacturing areas, we expect this increased backlog to benefit our financial performance in fiscal year 2015, which begins in July."