Carpenter Technology Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - Carpenter Technology Corp. (CRS) reported a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $6.3 million, or $0.12 per share. This compares with $18.6 million, or $0.38 per share, in last year's third quarter.

Excluding items, Carpenter Technology Corp. reported adjusted earnings of $1.19 per share for the period.

Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.8% to $684.9 million from $690.1 million last year.

Carpenter Technology Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $6.3 Mln. vs. $18.6 Mln. last year. -EPS (Q3): $0.12 vs. $0.38 last year. -Revenue (Q3): $684.9 Mln vs. $690.1 Mln last year.