Carpenter has reported an increase in sales for Q3 2023.

Net sales were US$690.1 million, an increase of 41% compared to Q3 2022 sales of US$489.0 million.

Operating income was US$39.3 million compared to US$1.1 million, the company said.

Carpenter’s specialty alloys operations had Q3 2023 sales of US$411.5 million, up from US$300 million, while its performance engineered products segment, which includes titanium and 3D printing products, showed net sales of US$103.8 million, an increase compared to Q3 2022 sales of US86.4 million.         

“By outperforming expectations for the third quarter of fiscal year 2023, we remain on the path to returning to pre-pandemic levels of profitability in the fourth quarter of fiscal year 2023,” said Tony R Thene, president and CEO. “Our third quarter performance was driven by increased productivity across our manufacturing facilities and ongoing strong demand in each of our end-use markets.

“Looking ahead, we are well positioned to achieve our goal of delivering operating income of US$54-60 million in the fourth quarter of fiscal year 2023.”