Carpenter Technology Reports Fourth Quarter Earnings Results for FY2023
August 7, 2023
🌥️Earnings Overview
On July 31st 2023, CARPENTER TECHNOLOGY ($NYSE:CRS) released their financial results for the fourth quarter of FY2023, which ended on June 30th 2023. Total revenue was reported at USD 758.1 million – a notable 34.5% rise compared to the previous year. Net income jumped significantly from USD 2.6 million in the fourth quarter of FY2022 to USD 38.4 million in the same period of FY2023.
Market Price
Following the release of the earnings report, CARPENTER TECHNOLOGY stock opened at $59.1 and closed at $59.9, up by 2.0% from previous closing price of 58.7. This indicates that investors have responded positively to the solid fourth quarter results posted by CARPENTER TECHNOLOGY. Furthermore, CARPENTER TECHNOLOGY also revealed its outlook for the next fiscal year, predicting an increase in revenues and earnings per share due to a focus on operational efficiencies and cost savings. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carpenter Technology. More…
| Total Revenues | Net Income | Net Margin |
| 2.55k | 56.4 | 2.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carpenter Technology. More…
| Operations | Investing | Financing |
| 14.7 | -82.3 | -40.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carpenter Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.05k | 1.66k | 28.76 |
Key Ratios Snapshot
Some of the financial key ratios for Carpenter Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.4% | 1.2% | 5.0% |
| FCF Margin | ROE | ROA |
| -2.7% | 5.8% | 2.6% |
Analysis
GoodWhale has conducted an analysis of CARPENTER TECHNOLOGY‘s wellbeing. After conducting a Star Chart, we concluded that CARPENTER TECHNOLOGY is a ‘rhino’ type of company, which means that it has achieved moderate revenue or earnings growth. This makes the company attractive for investors who are looking for stable but not dazzling returns. The health score of CARPENTER TECHNOLOGY is 8/10, indicating that the company is capable of sustaining its operations in times of crisis and is in a good position from the perspective of its cash flows and debt. CARPENTER TECHNOLOGY is particularly strong in asset, dividend, and profitability, while its growth potential is comparatively weaker. More…
Peers
It operates in the aerospace, energy, transportation, medical, and industrial markets. Its main competitors include Ryerson Holding Corp, thyssenkrupp AG, and Lee Chi Enterprises Co Ltd. These companies are all major players in their respective fields and have been producing quality products for many years.
– Ryerson Holding Corp ($NYSE:RYI)
Ryerson Holding Corp is a global value-added distributor of metals and industrial products. The company primarily serves the non-residential construction, industrial machinery, and maintenance repair and operations (MRO) marketplaces. As of 2022, Ryerson Holding Corp has a market capitalization of 1.13 billion dollars, indicating that it is a relatively large company. Additionally, its return on equity (ROE) of 52.95% demonstrates that it is a well-run business with a high level of profitability relative to its equity base.
– thyssenkrupp AG ($LTS:0O1C)
thyssenkrupp AG is a German multinational conglomerate with operations in the industrial engineering, materials services, elevator technology, and automotive sectors. The company has a market capitalization of 3.6 billion as of 2022, reflecting a strong performance on the stock market this year. Additionally, thyssenkrupp has an impressive Return on Equity of 8.21%, indicating that investors are seeing high returns for the money they have invested in the company. This is a testament to the company’s commitment to driving profitable growth, as well as its ability to generate value for shareholders.
– Lee Chi Enterprises Co Ltd ($TWSE:1517)
Lee Chi Enterprises Co Ltd is a leading manufacturer and distributor of industrial components and systems. The company has a market cap of 4.44 billion dollars as of 2022 and boasts a return on equity of 10.34%. This indicates that the company is highly profitable, generating substantial returns for its shareholders over the long term. The company’s products are widely used in a variety of industries, including automotive, electronics, medical, and industrial. Lee Chi Enterprises Co Ltd has established itself as a reliable supplier of quality components and systems, delivering superior customer service and competitive pricing.
Summary
CARPENTER TECHNOLOGY’s financial performance in the fourth quarter of FY2023 was strong, with total revenue increasing by 34.5% and net income increasing significantly from USD 2.6 million to USD 38.4 million. This highlights the company’s financial strength and makes it an attractive investment opportunity. Investors should consider the company’s positive momentum, cash flow, and return on equity when deciding whether to invest in the company. Furthermore, they should examine the company’s competitive landscape and its strategic advantages to determine whether it is a worthwhile investment.
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