Carpenter Technology Corp. Q1 Profit Increases, Beats Estimates

(RTTNews) - Carpenter Technology Corp. (CRS) reported a profit for its first quarter that Increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $122.5 million, or $2.43 per share. This compares with $84.8 million, or $1.67 per share, last year.

Excluding items, Carpenter Technology Corp. reported adjusted earnings of $2.43 per share for the period.

Analysts on average had expected the company to earn $2.16 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.2% to $733.7 million from $717.6 million last year.

Carpenter Technology Corp. earnings at a glance (GAAP) :

-Earnings: $122.5 Mln. vs. $84.8 Mln. last year. -EPS: $2.43 vs. $1.67 last year. -Revenue: $733.7 Mln vs. $717.6 Mln last year.