Carpenter Technology Corp. Q4 Profit Increases, Beats Estimates

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

The company's earnings came in at $93.6 million, or $1.85 per share. This compares with $38.4 million, or $0.78 per share, in last year's fourth quarter.

Excluding items, Carpenter Technology Corp. reported adjusted earnings of $92 million or $1.82 per share for the period.

Analysts on average had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $798.7 million from $758.1 million last year.

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

-Earnings (Q4): $93.6 Mln. vs. $38.4 Mln. last year. -EPS (Q4): $1.85 vs. $0.78 last year. -Revenue (Q4): $798.7 Mln vs. $758.1 Mln last year.