Carpenter Technology Corp. Q3 Profit Increases, Beats Estimates

(RTTNews) - Carpenter Technology Corp. (CRS) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $95.4 million, or $1.88 per share. This compares with $6.3 million, or $0.12 per share, last year.

Excluding items, Carpenter Technology Corp. reported adjusted earnings of $95.4 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.74 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 6.1% to $727.0 million from $684.9 million last year.

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

-Earnings: $95.4 Mln. vs. $6.3 Mln. last year. -EPS: $1.88 vs. $0.12 last year. -Revenue: $727.0 Mln vs. $684.9 Mln last year.