Achieved adjusted operating income was US$62.9 mn, up from US$14.9 mn in Q4 2022.
Carpenter’s Specialty Alloy Operations business reported Q4 2023 adjusted operating income of US$80 mn, up US$20 million in 2022.
“More than a year ago, we set the goal to return to pre-pandemic (fiscal year 2019) profitability on a run-rate basis by the end of fiscal year 2023,” said Tony R Thene, president and CEO. We exceeded that goal in the fourth quarter. Our performance was driven by increased productivity at our facilities, improved product mix and realized price increases.
“Notably, the Specialty Alloys Operations segment demonstrated significant improvement. […]For the first quarter of fiscal year 2024, we expect operating income to be in the range of US$61 million to US$67 mn.
