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The Zacks Consensus Estimate for CRS’s fiscal first-quarter revenues is pegged at $708.2 million, indicating 8.6% growth from the year-ago reported figure.
The consensus estimate for Carpenter Technology’s earnings is pegged at $1.57 per share. The Zacks Consensus Estimate for CRS’s fiscal first-quarter earnings has moved down 1% in the past 60 days. The estimate indicates a year-over-year surge of 78.4%.
Image Source: Zacks Investment Research
CRS’s Solid Earnings Surprise History
Carpenter Technology’s earnings beat the Zacks Consensus Estimates in the trailing four quarters, the average surprise being 15.9%
What the Zacks Model Unveils for Carpenter Technology
Our proven model does not conclusively predict an earnings beat for CRS this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Carpenter Technology has an Earnings ESP of 0.00%.
Zacks Rank: CRS currently sports a Zacks Rank of 1.
Factors Likely to Have Shaped CRS’s Q1 Performance
Carpenter Technology has been witnessing growth across its end-use markets, especially in aerospace, defense and medical applications, which are anticipated to continue throughout fiscal 2025 and get reflected in the fiscal first-quarter 2025 results. In the quarter, demand is expected to have accelerated across all aerospace submarkets as the supply chain ramped up to meet increasing travel demand.
However, the company has been bearing the brunt of labor and chip shortages, which are likely to have affected its performance in the to-be-reported quarter.
Nonetheless, gains from increased productivity across Carpenter Technology’s facilities, higher prices, an improved product mix and increased volumes are expected to have negated these headwinds. The impacts of these are likely to get reflected on the company’s margin in the to-be-reported quarter.
We expect the Specialty Alloys Operations segment’s sales to be $618 million in the quarter, indicating growth of 8.4% from the year-ago quarter’s reported figure. Our model estimates the segment to sell 51,052 pounds in the first quarter of fiscal 2025, suggesting a 2.1% rise from that reported in the first quarter of fiscal 2024. We expect the operating profit to be $131.7 million, indicating growth from the $80.8 million reported in first-quarter fiscal 2024.
We expect Performance Engineered Products’ net sales to increase 6.1% year over year to $108 million in the quarter under review. Our model predicts the segment to sell 2,323 pounds in the quarter, indicating an increase of 0.9%. Our estimate for the segment’s operating profit is $10.6 million. It reported an operating profit of $9.1 million in the year-ago quarter.
CRS’s Share Price Outperforms Industry
Carpenter Technology shares have gained 161.5% in the past year compared with the industry’s 77.5% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some stocks with the right combination of elements to post an earnings beat in their upcoming releases.
The Zacks Consensus Estimate for AEM’s third-quarter earnings is pegged at 96 cents. It has a trailing four-quarter average surprise of 13.7%.
Royal Gold, Inc. (RGLD - Free Report) , ready to release earnings numbers on Nov. 6, currently has an Earnings ESP of +7.48% and a Zacks Rank #2.
The Zacks Consensus Estimate for RGLD’s third-quarter 2024 earnings is pegged at $1.25. It has a trailing four-quarter average surprise of 6.4%.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release its third-quarter 2024 on Nov. 5, has an Earnings ESP of +15.63% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for KGC’s third-quarter 2024 earnings is pegged at 16 cents per share, suggesting year-over-year growth of 33.3%. It has a trailing four-quarter average surprise of 29.1%.
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Carpenter Technology Gears up to Report Q1 Earnings: What's in Store?
Carpenter Technology Corporation (CRS - Free Report) is scheduled to report first-quarter fiscal 2025 results on Oct. 24, before the opening bell.
The Zacks Consensus Estimate for CRS’s fiscal first-quarter revenues is pegged at $708.2 million, indicating 8.6% growth from the year-ago reported figure.
The consensus estimate for Carpenter Technology’s earnings is pegged at $1.57 per share. The Zacks Consensus Estimate for CRS’s fiscal first-quarter earnings has moved down 1% in the past 60 days. The estimate indicates a year-over-year surge of 78.4%.
Image Source: Zacks Investment Research
CRS’s Solid Earnings Surprise History
Carpenter Technology’s earnings beat the Zacks Consensus Estimates in the trailing four quarters, the average surprise being 15.9%
Image Source: Zacks Investment Research
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
What the Zacks Model Unveils for Carpenter Technology
Our proven model does not conclusively predict an earnings beat for CRS this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Carpenter Technology has an Earnings ESP of 0.00%.
Zacks Rank: CRS currently sports a Zacks Rank of 1.
Factors Likely to Have Shaped CRS’s Q1 Performance
Carpenter Technology has been witnessing growth across its end-use markets, especially in aerospace, defense and medical applications, which are anticipated to continue throughout fiscal 2025 and get reflected in the fiscal first-quarter 2025 results. In the quarter, demand is expected to have accelerated across all aerospace submarkets as the supply chain ramped up to meet increasing travel demand.
However, the company has been bearing the brunt of labor and chip shortages, which are likely to have affected its performance in the to-be-reported quarter.
Nonetheless, gains from increased productivity across Carpenter Technology’s facilities, higher prices, an improved product mix and increased volumes are expected to have negated these headwinds. The impacts of these are likely to get reflected on the company’s margin in the to-be-reported quarter.
We expect the Specialty Alloys Operations segment’s sales to be $618 million in the quarter, indicating growth of 8.4% from the year-ago quarter’s reported figure. Our model estimates the segment to sell 51,052 pounds in the first quarter of fiscal 2025, suggesting a 2.1% rise from that reported in the first quarter of fiscal 2024. We expect the operating profit to be $131.7 million, indicating growth from the $80.8 million reported in first-quarter fiscal 2024.
We expect Performance Engineered Products’ net sales to increase 6.1% year over year to $108 million in the quarter under review. Our model predicts the segment to sell 2,323 pounds in the quarter, indicating an increase of 0.9%. Our estimate for the segment’s operating profit is $10.6 million. It reported an operating profit of $9.1 million in the year-ago quarter.
CRS’s Share Price Outperforms Industry
Carpenter Technology shares have gained 161.5% in the past year compared with the industry’s 77.5% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some stocks with the right combination of elements to post an earnings beat in their upcoming releases.
Agnico Eagle Mines Limited (AEM - Free Report) , scheduled to release its third-quarter 2024 earnings on Oct. 30, has an Earnings ESP of +4.69% and flaunts a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AEM’s third-quarter earnings is pegged at 96 cents. It has a trailing four-quarter average surprise of 13.7%.
Royal Gold, Inc. (RGLD - Free Report) , ready to release earnings numbers on Nov. 6, currently has an Earnings ESP of +7.48% and a Zacks Rank #2.
The Zacks Consensus Estimate for RGLD’s third-quarter 2024 earnings is pegged at $1.25. It has a trailing four-quarter average surprise of 6.4%.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release its third-quarter 2024 on Nov. 5, has an Earnings ESP of +15.63% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for KGC’s third-quarter 2024 earnings is pegged at 16 cents per share, suggesting year-over-year growth of 33.3%. It has a trailing four-quarter average surprise of 29.1%.