Carpenter Technology Records Narrower Net Loss In Q3 On 39% Revenue Growth

(RTTNews) - Carpenter Technology Corp. (CRS) Thursday reported third-quarter net loss narrower than last year on higher revenues.

The quarterly loss was $7.5 million, or $0.16 per share, compared to net loss of $40.5 million or $0.84 per share last year. On an adjusted basis, loss was $0.20 per share. On average, 4 analysts polled by Thomson Reuters expected the company to report loss of $0.27 per share. Net sales for the third quarter increased 39 percent to $489.0 million from $351.9 million a year ago. Wall Street were looking for sales of $422.82 million.

Looking ahead, the specialty metals worldwide company said it is well positioned for continued, long-term growth.