Carpenter Technology
Supplies qualification-intensive specialty alloys for aerospace, defense, medical, energy, and industrial applications.
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Profile
Manufactures premium specialty alloys and process solutions through Specialty Alloys Operations and Performance Engineered Products. Aerospace and defense generates most sales, while medical, energy, transportation, and industrial customers rely on its qualification-intensive nickel-, cobalt-, titanium-, and iron-based materials.
Manufactures premium specialty alloys and process solutions for applications where material performance and production control are tightly specified. Specialty Alloys Operations runs the core premium-alloy and stainless-steel manufacturing platform, while Performance Engineered Products includes Dynamet titanium, Carpenter Additive, and distribution businesses.
Produces nickel-, cobalt-, titanium-, and iron-based alloys, powder metals, additive-manufacturing alloys, and soft-magnetic materials. Qualification-intensive aerospace and defense programs account for most sales, alongside medical, energy, transportation, and industrial demand across the United States and international markets.
Combines alloy formulation, melting, hot forming, finishing, and value-added processing through specialized assets and technical personnel. Results depend on product mix, customer qualification cycles, cyclical end markets, raw-material availability, and reliable operation of specialized production equipment.
Company facts
Categories
Key statistics
Year to date +40.8% · Average volume (30d) 659.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 3, 2026 | KeyBanc | Reiterate | Overweight | $459 | $608 |
| Jul 31, 2026 | Susquehanna | Reiterate | Positive | $680 | $600 |
| Jul 31, 2026 | BTIG | Reiterate | Buy | $450 | $620 |
| Jul 9, 2026 | Susquehanna | Reiterate | Positive | $495 | $680 |
| May 4, 2026 | Keybanc | Reiterate | Overweight | $453 | $459 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q4 FY26 | $3.09 | $3.23 | +4.5% | $863.3M | $851.0M | −1.4% | −5.07% |
| Apr 29, 2026Q3 FY26 | $2.63 | $2.77 | +5.3% | $797.0M | $811.5M | +1.8% | +5.33% |
| Jan 29, 2026Q2 FY26 | $2.22 | $2.33 | +5.0% | $690.9M | $728.0M | +5.4% | +2.40% |
| Oct 23, 2025Q1 FY26 | $2.13 | $2.43 | +14.1% | $717.9M | $733.7M | +2.2% | +4.64% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $727.0M | $755.6M | $733.7M | $728.0M | $811.5M | $851.0M | |
| Gross profit | $200.8M | $214.0M | $216.4M | $218.3M | $251.8M | $269.0M | |
| Operating income | $137.8M | $151.4M | $153.3M | $155.2M | $186.5M | $207.0M | |
| Net income | $95.4M | $111.7M | $122.5M | $105.3M | $139.6M | $162.4M | |
| Diluted EPS | $1.88 | $2.21 | $2.43 | $2.09 | $2.77 | $3.23 | |
| Gross margin | 27.6% | 28.3% | 29.5% | 30.0% | 31.0% | 31.6% | |
| Operating margin | 19.0% | 20.0% | 20.9% | 21.3% | 23.0% | 24.3% |
Fiscal years (4-quarter sums)FY22 $1.84B · FY23 $2.55B · FY24 $2.76B · FY25 $2.88B · FY26 $3.12B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $393.3M · Total debt $690.7M · Total assets $3.84B · Shareholders' equity $2.23B
Dividends
Raised for 22 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 25, 2026 | Aug 25 | Sep 3 | $0.20 | |
| Apr 28, 2026 | Apr 28 | Jun 4 | $0.20 | |
| Jan 27, 2026 | Jan 27 | Mar 5 | $0.20 | |
| Oct 21, 2025 | Oct 21 | Dec 4 | $0.20 | |
| Aug 26, 2025 | Aug 26 | Sep 4 | $0.20 | |
| Apr 22, 2025 | Apr 22 | Jun 5 | $0.20 | |
| Jan 28, 2025 | Jan 28 | Mar 6 | $0.20 | |
| Oct 22, 2024 | Oct 22 | Dec 5 | $0.20 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 49.69M · Float 48.07M · 96.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.22M | 12.51% | 13F | Aug 7, 2026 |
| FMR LLC | 4.18M | 8.42% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.16M | 4.35% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 2.11M | 4.25% | 13F | Aug 13, 2026 |
| State Street Corp | 1.91M | 3.84% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Tony R. Thene | director, officer: Chairman, President and CEO | −109,283 | $483.84 |
| Aug 21, 2026 | Ramin Younessi | director | −438 | $493.15 |
| May 28, 2026 | Anastasios John Hart | director | −250 | $461.88 |
| May 5, 2026 | Marshall D. Akins | officer: VP and Chief Comm Officer | −11,815 | $441.36 |
| May 4, 2026 | Anastasios John Hart | director | −750 | $423.86 |
Peers
- ATI
Competes across aerospace titanium, nickel superalloys, and powder metals
- Metallus
Narrow rival in alloy-steel bar and aerospace/defense applications
