Carpenter Technology Posts Narrower Loss In Q2

(RTTNews) - Carpenter Technology Corporation (CRS) reported a second-quarter adjusted loss per share of $0.58 compared to a loss of $0.61, prior year. On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.62, for the quarter. Analysts' estimates typically exclude special items.

Net loss was $29.4 million or $0.61 per share compared a loss of $84.9 million or $1.76 per share. Sales increased to $396.0 million from $348.8 million, a year ago. Analysts on average had estimated $365.94 million in revenue. Net sales excluding surcharge were $314.9 million, an increase of 5 percent from a year ago.

Total liquidity, including cash and available revolver balance, was $391.6 million at the end of the second quarter of fiscal 2022.