Carpenter Technology Highlights Strategic Priorities and Long-Term Financial Goals at Investor Day

Carpenter Technology Corporation

PHILADELPHIA, PA — Carpenter Technology Corporation (NYSE: CRS) held an investor event Tuesday covering the company’s strategic priorities and financial goals.

“Carpenter Technology is at an inflection point, with the opportunity to realize meaningful, profitable growth”, said Tony Thene, President and CEO. “We participate in high growth, high value markets, including the aerospace and defense and medical end-use markets. And we have the world-class capabilities and assets that deliver the materials solutions our customers need.”

“Operating in a strong demand environment with our unique portfolio of material solutions, we are well-positioned to accelerate growth. Primarily driven by higher prices, an improving product mix and increasing volumes, we see a path to double operating income from fiscal year 2019 levels by fiscal year 2027. This operating income growth will deliver meaningful cash flow over the next several years, driving further value to our shareholders.”

In addition to providing insight into the business, the Company provided details on its stated goal to double its fiscal year 2019 adjusted operating income by fiscal year 2027:

  • Specialty Alloys Operations segment is expected to exceed 20 percent adjusted operating income margins on net sales excluding surcharges of approximately $2.2 billion to 2.4 billion in fiscal year 2027.
  • Performance Engineered Products segment is expected to reach adjusted operating income margins of 13-15 percent on $570 million to $610 million of net sales excluding surcharges in fiscal year 2027.
  • Overall, expected to generate $400-600 million in cumulative adjusted free cash flow between fiscal year 2024 and fiscal year 2027.
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“It is an exciting time for Carpenter Technology. We have demonstrated our recovering growth trajectory through fiscal year 2023, with increasing productivity across our facilities, and we expect to take a significant step forward in fiscal year 2024. We remain focused on leveraging our unique capabilities to deliver engineered solutions for critical applications across high growth, high value end-use markets to achieve our financial goals.”

Presentation materials used during this presentation are available for viewing and download at

More information about Carpenter Technology can be found at

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