Carpenter Technology Corp. Reports 44% Decline In Q2 Profit

(RTTNews) - Carpenter Technology Corp. (CRS) reported earnings for second quarter that lost ground from last year.

The company said its bottom line declined to $7.0 million, or $0.15 per share. This was down from $12.4 million, or $0.24 per share, in last year's second quarter.

Analysts had expected the company to earn $0.06 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.7% to $427.4 million. This was down from $443.8 million last year.

Carpenter Technology Corp. earnings at a glance:

-Earnings (Q2): $7.0 Mln. vs. $12.4 Mln. last year. -Earnings Decline (Y-o-Y): -43.5% -EPS (Q2): $0.15 vs. $0.24 last year. -EPS Decline (Y-o-Y): -37.5% -Analysts Estimate: $0.06 -Revenue (Q2): $427.4 Mln vs. $443.8 Mln last year. -Revenue Change (Y-o-Y): -3.7%