Carpenter plans to double income

Carpenter Technology says that it plans to double its operating income from 2019-2027.

“Carpenter Technology is at an inflection point, with the opportunity to realize meaningful, profitable growth,” said Tony Thene, president and CEO. “Operating in a strong demand environment with our unique portfolio of material solutions, we are well-positioned to accelerate growth.”

In particular, the company said that its Specialty Alloys Operations segment could exceed 20% adjusted operating income margins on net sales excluding surcharges of approximately US$2.2 billion to US2.4 billion in 2027. The Performance Engineered Products segment is reportedly expected to reach adjusted operating income margins of 13-15% on US$570 million to US$610 million in the same period.