Carpenter reports Q4 sales increase

Carpenter Technology has reported net sales of US$563.8 mn in Q4 2022, an increase of 34% compared to US$421.6 mn in the same period of 2021.

Year to date (YTD) sales were US$1,836.3 in 2022, up from US$1,475.6 in 2021.

“Our fourth quarter results marked a successful end to the year and place us on strong ground to deliver accelerated growth in fiscal year 2023,” said Tony Thene, president and CEO. “The quarter saw us return to a positive EPS as both the Specialty Alloy Operations and Performance Engineered Products segments outperformed our expectations. […] The fourth quarter’s operating income results were driven by double digit sequential revenue growth in the Aerospace and Defense and Medical end-use markets.

“Looking ahead, we expect to see continued growth across our end-use markets, especially in aerospace, defense and medical applications, where customers are still ramping to pre-pandemic levels.”