Carpenter Technology Corp. Q3 Earnings Drop 15%

(RTTNews) - Carpenter Technology Corp. (CRS) released a profit for third quarter that dropped compared to the same period last year.

The company said its bottom line totaled $14.3 million, or $0.30 per share. This was lower than $16.9 million, or $0.32 per share, in last year's third quarter.

Analysts had expected the company to earn $0.30 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 20.0% to $456.3 million. This was down from $570.6 million last year.

Carpenter Technology Corp. earnings at a glance:

-Earnings (Q3): $14.3 Mln. vs. $16.9 Mln. last year. -Earnings Decline (Y-o-Y): -15.4% -EPS (Q3): $0.30 vs. $0.32 last year. -EPS Decline (Y-o-Y): -6.2% -Analysts Estimate: $0.30 -Revenue (Q3): $456.3 Mln vs. $570.6 Mln last year. -Revenue Change (Y-o-Y): -20.0%