Carpenter Technology Q2 Adj. Earnings Miss Estimates - Quick Facts

(RTTNews) - Carpenter Technology Corp. (CRS) on Thursday reported second-quarter net income of $38.8 million or $0.79 per share, up from $35.5 million or $0.73 per share in the year-ago period.

Excluding special items, adjusted earnings for the quarter was $0.83 per share, compared to $0.76 per share last year.

Net sales for the quarter increased 3 percent to $573.0 million from $556.5 million in the year-ago period, on 7 percent lower volume. Net sales excluding surcharge were $471.2 million, an increase of 5 percent from the same period a year ago.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.87 per share for the quarter on revenues of $576.2 million. Analysts' estimates typically exclude special items.