Carpenter Technology Corp. Profit Falls 52% In Q2

(RTTNews) - Carpenter Technology Corp. (CRS) announced earnings for second quarter that retreated from last year.

The company said its earnings totaled $12.4 million, or $0.24 per share. This was down from $25.7 million, or $0.48 per share, in last year's second quarter.

Analysts had expected the company to earn $0.25 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 19.1% to $443.8 million. This was down from $548.4 million last year.

Carpenter Technology Corp. earnings at a glance:

-Earnings (Q2): $12.4 Mln. vs. $25.7 Mln. last year. -Earnings Decline (Y-o-Y): -51.8% -EPS (Q2): $0.24 vs. $0.48 last year. -EPS Decline (Y-o-Y): -50.0% -Analysts Estimate: $0.25 -Revenue (Q2): $443.8 Mln vs. $548.4 Mln last year. -Revenue Change (Y-o-Y): -19.1%