Carpenter Technology Corp. Q4 Profit Increases, beats estimates

(RTTNews) - Carpenter Technology Corp. (CRS) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $38.4 million, or $0.78 per share. This compares with $2.6 million, or $0.05 per share, in last year's fourth quarter.

Excluding items, Carpenter Technology Corp. reported adjusted earnings of $38.4 million or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 34.5% to $758.1 million from $563.8 million last year.

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

-Earnings (Q4): $38.4 Mln. vs. $2.6 Mln. last year. -EPS (Q4): $0.78 vs. $0.05 last year. -Analyst Estimate: $0.66 -Revenue (Q4): $758.1 Mln vs. $563.8 Mln last year.