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Last $37.10 USD
Change Today -1.32 / -3.44%
Volume 370.4K
CRS On Other Exchanges
Symbol
Exchange
Frankfurt
As of 1:03 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

carpenter technology (CRS) Key Developments

Carpenter Technology Corp. Presents at KeyBanc Capital Markets Basic Materials and Packaging Conference, Sep-03-2015

Carpenter Technology Corp. Presents at KeyBanc Capital Markets Basic Materials and Packaging Conference, Sep-03-2015 . Venue: InterContinental Boston, 510 Atlantic Avenue, Boston, MA 02210, United States. Speakers: Tony R. Thene, Chief Executive Officer, President and Director.

Carpenter Declares Quarterly Cash Dividend, Payable September 15, 2015

Carpenter Technology Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per share of common stock, payable September 15, 2015, to shareholders of record on September 8, 2015. The ex-dividend date (the date the common stock trades without the dividend) is September 3, 2015.

Carpenter Technology Appoints James D. Dee as Chief Governance Officer

Carpenter Technology Corp. appointed the Company's first Chief Governance Officer, James D. Dee, who currently serves as Vice President, General Counsel and Secretary.

Carpenter Technology Corp. Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2015; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2016

Carpenter Technology Corp. reported un-audited consolidated earnings results for the fourth quarter and year ended June 30, 2015. For the quarter, the company reported net income of $22.5 million or $0.44 per diluted share. Excluding restructuring charges and special items, earnings per share would have been $0.52 in the quarter. This compares to a reported net income of $38.1 million or $0.71 per diluted share in the same quarter last year. Net sales were $558.0 million compared to $604.6 million, and net sales excluding surcharge were $463.0 million, a decrease of $25.9 million (or 5%) from the same quarter last year, on 14% lower volume. Operating income was $39.5 million, a decrease of $19.7 million from $59.2 million reported the fourth quarter of the prior year. Operating income ‘excluding pension earnings, interest and deferrals (EID) and restructuring charges and special items’ was $48.2 million, a decrease of $17.0 million (or 26%) from the fourth quarter of the prior year. Net cash flow from operations was $134.1 million compared to a cash flow from operations of $95.5 million in the prior year's fourth quarter. The company generated $107 million of free cash flow, driven by inventory reduction of $54 million and lower capital spend of $18 million. Purchases of property, equipment and software were $18.3 million, compared to $51.0 million in the prior year's fourth quarter. The company reported income before income taxes of $33.3 million compared to $54.2 million reported in the last year. Adjusted income before income taxes was $39.6 million and net income of $26.6 million or $0.52 per diluted share. For the year, the company reported net income of $58.7 million or $1.11 per diluted share compared to $132.8 million or $2.47 per diluted share, net sales of $2,226.7 million compared to $2,173.0 million, operating income of $111.5 million compared to from $212.0 million, net cash flow from operations of $282.6 million compared to $239.6 million, free cash flow of $74.4 million compared to free cash out flow of $147.8 million, purchases of property, equipment and software of $170.5 million, compared to $349.2 million and income before income taxes of $89.1 million compared to $196.4 million reported in the last year. Adjusted income before income taxes was $118.9 million and net income of $79.6 million or $1.51 per diluted share. For fiscal 2016, the company expects effective tax rate to be in the range of 32% to 33% and capital expenditures to a base level of approximately $120 million. For the first quarter of fiscal 2016, the company expects operating income to be lower relative to the fourth quarter, due to lower demand in titanium and powder businesses.

Carpenter Technology Corp., Q4 2015 Earnings Call, Jul 30, 2015

Carpenter Technology Corp., Q4 2015 Earnings Call, Jul 30, 2015

 

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Valuation CRS Industry Range
Price/Earnings 33.7x
Price/Sales 0.9x
Price/Book 1.4x
Price/Cash Flow 31.7x
TEV/Sales 0.5x
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