News about Carpenter Technology

Carpenter Technology (CRS) shares fell 22.2% on Thursday after fiscal Q1 2027 earnings of $3.25 per share beat the $3.04 forecast, but sales of $798.5 million missed the $830.8 million forecast. Revenue still rose 28% year over year to a company record, and bookings for future shipments in aerospace and distribution grew 49%. However, the company generated no free cash flow and burned nearly $25 million on higher capital spending for a brownfield factory expansion, despite $162.5 million in GAAP net profit. The article notes the stock trades at 32x trailing earnings with a PEG ratio of 1.5, against expected long-term earnings growth of 21.5%, suggesting it may be overpriced.