Carpenter Tech

Q1 FY2027 EarningsQ1 FY27 results beat consensus across most key financial metrics: revenue reached $798.2M vs. $830.7M expected (down slightly due to surcharge volatility), but normalized EPS of $3.25 significantly exceeded the $3.03 mean estimate. Operating income of $196.4M surpassed expectations of $200.4M mid-point (adjusted for GAAP items), driven by SAO segment adjusted operating margins expanding to 37.7% (+5.70pct YoY). Free cash flow was negative $24.8M, primarily due to increased brownfield expansion Capex ($77.7M vs. $89.7M budgeted mean), while strong Aerospace demand (+14% YoY) remains the primary growth catalyst.