Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1466.7%
Neutral628.6%
Bearish14.7%
Carpenter Technology Corporation · CRS · FY2025 Q4 · Calendar Q3 2025
Carpenter Technology: Strong aerospace demand supports higher FY26 outlook
The supplied analysis supports a constructive but conditional outlook: resilient aerospace, defense, medical, and power-generation demand, pricing actions, and capacity expansion underpin management's higher FY26 outlook. The thesis remains dependent on lead times, pricing discipline, execution of the brownfield project, and sustained end-market mix.
Reported Before market openNYSEBasic Materials
$14.11B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.21
Consensus $2.07
EPS surprise
+6.8%
Reported versus consensus
Reported revenue
$755.6M
Consensus $792.5M
Revenue surprise
-4.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-12.1%
Event window
SPY move
-0.4%
Same window
Abnormal move
-11.7%
Stock minus SPY
Volume
3.4×
Versus trailing sessions
Subsequent drift
-2.7%
Up to 20 sessions
CRSSPY benchmark
Ask FN2 about CRS FY2025 Q4
Transcript, numbers and history already loaded
Why did CRS fall 12.1% after beating EPS estimates in FY2025 Q4?What changed in CRS's guidance and outlook in FY2025 Q4?Give me the bull and bear case for CRS after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis describes a stronger FY25 exit and a higher FY26 operating-income outlook. It also adds a $400 million brownfield expansion, more than 100% year-over-year power-generation revenue growth, and AI-enabled predictive maintenance as notable developments versus the prior-quarter analysis.
Guidance delta
Management raised FY26 operating-income guidance to $660–$700 million, versus the prior quarter's FY25 guidance of $520–$527 million.
Key takeaways
- Management reported record quarterly and annual operating income, with SAO margin expanding to 30.5%.
- Aerospace, defense, medical, and power-generation demand were highlighted as growth drivers; power-generation revenue grew more than 100% year over year.
- The $400 million brownfield expansion is intended to add melt capacity, with growth acceleration expected beginning FY2028.
- Capital returns continued through share repurchases and a stable dividend.
Management priorities
- Complete the brownfield melt-capacity expansion.
- Execute preventive maintenance to improve asset availability.
- Deploy AI tools for predictive maintenance and operational efficiency.
- Expand targeted aerospace, medical, and power-generation product mix.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$284.66Current
$144Low
$458.56Average
$620High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BTIG | Buy | Buy | Maintain | Oct 23, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 14, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 9, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Oct 8, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Sep 30, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 31, 2026 |
| Benchmark | Buy | Buy | Maintain | Jun 9, 2025 |
| Northcoast Research | Sell | Neutral | Downgrade | Jun 14, 2024 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 27, 2023 |
| Longbow Research | Neutral | Buy | Downgrade | Dec 16, 2019 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 11, 2018 |
| Seaport Global | Buy | Neutral | Upgrade | Mar 16, 2017 |
| Sterne Agee | Neutral | Buy | Downgrade | Apr 13, 2015 |
| Credit Suisse | Outperform | Outperform | Maintain | Oct 27, 2014 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 24, 2014 |
| Stifel | Buy | Buy | Maintain | Oct 24, 2014 |
| Topeka Capital | Buy | Buy | Maintain | Jul 30, 2014 |
| Topeka | Buy | Buy | Maintain | Jul 30, 2014 |
| Goldman Sachs | Neutral | Buy | Downgrade | Oct 30, 2013 |
| Buckingham Research | Buy | Buy | Maintain | Dec 21, 2012 |
| Citigroup | Neutral | Neutral | Maintain | Apr 26, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $284.66. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BTIG | Analyst unavailable | $470 | $292.26 | +65.1% | Oct 23, 2026 |
| Susquehanna | Charles Minervino | $450 | $292.26 | +58.1% | Oct 23, 2026 |
| KeyBanc | Samuel McKinney | $465 | $391.17 | +63.4% | Oct 8, 2026 |
| KeyBanc | Samuel McKinney | $608 | $519.66 | +113.6% | Aug 3, 2026 |
| Susquehanna | Analyst unavailable | $600 | $521.89 | +110.8% | Jul 31, 2026 |
| BTIG | Andre Madrid | $620 | $514.6 | +117.8% | Jul 31, 2026 |
| Susquehanna | Analyst unavailable | $680 | $597.14 | +138.9% | Jul 9, 2026 |
| KeyBanc | Samuel McKinney | $459 | $429.41 | +61.2% | May 4, 2026 |
| Wells Fargo | Analyst unavailable | $425 | $429.41 | +49.3% | May 4, 2026 |
| Deutsche Bank | Analyst unavailable | $500 | $420.53 | +75.6% | Apr 30, 2026 |
| Susquehanna | Analyst unavailable | $495 | $406.53 | +73.9% | Apr 30, 2026 |
| BTIG | Analyst unavailable | $450 | $406.53 | +58.1% | Apr 30, 2026 |
| KeyBanc | Analyst unavailable | $453 | $431.21 | +59.1% | Apr 9, 2026 |
| BTIG | Andre Madrid | $375 | $310.39 | +31.7% | Jan 30, 2026 |
| BTIG | Analyst unavailable | $365 | $316.71 | +28.2% | Oct 27, 2025 |
| Deutsche Bank | Analyst unavailable | $425 | $300.27 | +49.3% | Oct 24, 2025 |
| BTIG | Andre Madrid | $230 | $193.06 | -19.2% | Jan 31, 2025 |
| Deutsche Bank | Scott Deuschle | $144 | $98.46 | -49.4% | Jun 25, 2024 |
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Start freeCompany context
Snapshot as of publicationCarpenter Technology Corporation is a global leader in the production and supply of high-performance metallic materials, serving markets across the United States, Europe, Asia Pacific, Mexico, and Canada. The company's operations are structured into two primary divisions: Specialty Alloys Operations and Performance Engineered Products. Its diverse product portfolio encompasses advanced alloys like titanium, stainless, alloy, and tool steels, alongside various powder metals, additives, and custom-fabricated metal components. These specialized materials are critical to numerous industries, including aerospace, defense, medical devices, transportation, energy generation, general manufacturing, and consumer goods. Established in 1889, Carpenter Technology maintains its corporate headquarters in Philadelphia, Pennsylvania.
Historical context
All CRS earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.3% | +4.7% | Dow’s Q3 growth and self-help gains support a steady Q4 outlook |
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
| SCCO Southern Copper Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.4% | -2.1% | Southern Copper: Record Q3 results, projects advance amid execution risks |
Latest beats and misses
Who reports nextBeat on EPS
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
- AXPFY2026 Q3 · October 23, 2026+4.0% EPS-3.7% move
- RCIFY2026 Q3 · October 23, 2026+9.5% EPS-2.4% move
- EFY2026 Q3 · October 23, 2026+13.9% EPS+4.3% move
- RITM-PDFY2026 Q3 · October 23, 2026+10.2% EPS— move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the CRS recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-24T03:50:42.408782+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T03:50:42.405928+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.