Wall Street analysts forecast that Carpenter Technology (CRS) will report quarterly earnings of $2.97 per share in its upcoming release, pointing to a year-over-year increase of 22.2%. It is anticipated that revenues will amount to $807.77 million, exhibiting an increase of 10.1% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Carpenter metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Net Sales- End-Use Market Excluding Surcharge Revenue- Total' will likely reach $636.01 million. The estimate indicates a year-over-year change of +5.5%.
Based on the collective assessment of analysts, 'Net Sales- End-Use Market Excluding Surcharge Revenue- Surcharge revenue' should arrive at $159.12 million. The estimate indicates a year-over-year change of +21.8%.
The consensus among analysts is that 'Net Sales- Performance Engineered Products' will reach $91.54 million. The estimate suggests a change of -2.2% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Specialty Alloys Operations' of $721.86 million. The estimate indicates a year-over-year change of +9.4%.
It is projected by analysts that the 'Volumes Sold in Pounds - Specialty Alloys Operations' will reach 49.24 million. The estimate compares to the year-ago value of 44.75 million.
Analysts' assessment points toward 'Volumes Sold in Pounds' reaching 50.71 million. Compared to the current estimate, the company reported 46.42 million in the same quarter of the previous year.
Analysts predict that the 'Operating Income- Performance Engineered Products' will reach $6.66 million. The estimate is in contrast to the year-ago figure of $9.40 million.
According to the collective judgment of analysts, 'Operating Income- Specialty Alloys Operations' should come in at $221.15 million. Compared to the current estimate, the company reported $170.70 million in the same quarter of the previous year.
View all Key Company Metrics for Carpenter here>>>Shares of Carpenter have demonstrated returns of -7.6% over the past month compared to the Zacks S&P 500 composite's +1.5% change. With a Zacks Rank #2 (Buy), CRS is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Carpenter Technology Corporation (CRS): Free Stock Analysis Report
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