The Latrobe division contributed US$13.2 million of operating income in the second quarter. Aerospace and defense market sales were US$250.3 million in the second quarter, up 30% compared with the same period a year ago.
“We are continuing to see strong end-market demand for our Premium and Ultra-Premium products, improving overall product mix, and delivering higher-than-expected Latrobe synergies,” said William A Wulfsohn, Carpenter president and CEO. “At the same time, we see weaker demand for lower value mill product lines and destocking in the titanium medical supply chain.
Carpenter Technology expects a full year operating income improvement of 20–30% versus the last fiscal year, with strong second half revenue and earnings, due to investment in aerospace and energy markets.