(RTTNews) - Carpenter Technology Corp. (CRS), on Thursday, reported higher net income in the second quarter compared with the previous year.
For the second quarter, net income increased to $105.3 million from $84.1 million in the prior year.
Earnings per share were $2.09 versus $1.66 last year.
Adjusted net income rose to $117.3 million from $84.1 million in the previous year.
Adjusted earnings per share were $2.33 versus $1.66 last year.
On average, five analysts had expected the company to report $2.22 per share. Analysts' estimates typically exclude special items.
Operating income increased to $155.2 million from $118.9 million in the prior year.
Net sales surged to $728 million from $676.9 million in the previous year.
Further, the company now expected higher operating income for the fiscal year 2026 at teh range of $680 million to $700 million, representing a 30 percent to 33 percent increase over fiscal year 2025.
For the third quarter of fiscal year 2026, the company anticipated between $177 million and $182 million in operating income.
In the pre-market trading, Carpenter Technology is 2.20% higher at $338.79 on the New York Stock Exchange.
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