Carpenter Technology Corporation announced financial results for the fiscal first quarter ended September 30, 2026, reporting record operating income for the period. The company reported operating income of $196.4 million, which represents a 28 percent increase compared to the same period in the prior year. Diluted earnings per share were reported at $3.25 for the quarter.
Net sales for the first quarter of fiscal year 2027 were $798.2 million, an increase of 9 percent year-over-year. The Specialty Alloys Operations (SAO) segment generated $216.3 million in operating income, with an adjusted operating margin of 37.7 percent. The company noted that this margin was in line with the fourth quarter of fiscal year 2026.
The company highlighted strong demand in the commercial aerospace supply chain, specifically in aerospace structural and distribution sub-markets, which saw bookings increase 23 percent sequentially and 49 percent year-over-year. The company also executed $133.9 million in share repurchases during the quarter.
Regarding future guidance, Carpenter Technology anticipates second quarter operating income between $192 million and $197 million. For the full fiscal year 2027, the company maintains an operating income outlook of $850 million to $880 million, representing a 21 percent to 25 percent increase over fiscal year 2026 operating income. The company also reiterated a fiscal year 2029 operating income target of $1.2 billion to $1.3 billion.
