Carpenter Technology Slips To Loss In Q2 - Quick Facts

(RTTNews) - Carpenter Technology Corp. (CRS) reported that its net loss for the second quarter ended December 31, 2020 was $84.9 million or $1.76 per share, compared to net income of $38.8 million or $0.79 per share in the same quarter last year.

Excluding special items, adjusted loss per share was $0.61 for the quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $0.64 per share for the second-quarter. Analysts' estimates typically exclude special items.

Net sales for the second quarter were $348.8 million compared with $573.0 million in the second quarter of fiscal year 2020, a decrease of $224.2 million, on 33 percent lower volume. Net sales excluding surcharge were $299.4 million, a decrease of $171.8 million from the same period a year ago. Analysts expected revenues of $362.79 million for the quarter.