--- title: "Carpenter Tech | 8-K: FY2026 Revenue Misses Estimate at USD 851 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294412023.md" datetime: "2026-07-30T20:32:25.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294412023.md) - [en](https://longbridge.com/en/news/294412023.md) - [zh-HK](https://longbridge.com/zh-HK/news/294412023.md) generator: "portal-rs" --- # Carpenter Tech | 8-K: FY2026 Revenue Misses Estimate at USD 851 M Revenue: As of FY2026, the actual value is USD 851 M, missing the estimate of USD 3.134 B. EPS: As of FY2026, the actual value is USD 3.23, missing the estimate of USD 10.447. EBIT: As of FY2026, the actual value is USD 206.9 M. #### Overall Financial Performance (Fourth Quarter Fiscal Year 2026) - Operating income for Carpenter Technology Corporation was $207 million, marking an 11% increase over Q3 FY26 and a 37% increase over Q4 FY25. - The company achieved an adjusted operating margin ex. surcharge revenue of 30.4%. - Gross profit totaled $268.9 million. - Selling, general and administrative expenses were $62.0 million. - The effective tax rate stood at 20.7%. - Net income reached $162.4 million. - Adjusted free cash flow was $155.0 million in Q4 FY26. #### Segment Performance (Fourth Quarter Fiscal Year 2026) ##### Specialty Alloys Operations (SAO) - Net sales ex. surcharge revenue for SAO increased 4% sequentially to $607.4 million, driven by the Aerospace and Defense and Industrial and Consumer end-use markets. - SAO’s operating income reached a record $229.7 million, up 10% sequentially and 38% year-over-year. - The adjusted operating margin ex. surcharge revenue for SAO achieved a record 37.8%, marking its eighteenth consecutive quarter of margin expansion. ##### Performance Engineered Products (PEP) - Net sales ex. surcharge revenue for PEP increased 8% sequentially to $98.2 million, reflecting increased sales across all end-use markets except Energy. - PEP’s operating income was $7.1 million, remaining flat sequentially. - The adjusted operating margin ex. surcharge revenue for PEP stood at 7.2%. #### Cash Flow and Liquidity (Fiscal Year 2026 and Q4 FY26) - Carpenter Technology Corporation generated $605.0 million in cash from operating activities for fiscal year 2026. - Adjusted free cash flow for FY26 totaled $362.3 million, including investments in brownfield expansion. - Capital expenditures for FY26 amounted to $242.7 million. - Total liquidity at the end of Q4 FY26 remained healthy at $892.4 million, comprising $393.3 million in cash and $499.1 million in available borrowings under the Credit Facility. - The net debt/EBITDA ratio stood at -0.3x, with no near-term debt maturities. #### Shareholder Returns - Carpenter Technology Corporation executed $45.2 million in share repurchases in Q4 FY26, bringing the total to $281.0 million against a $400.0 million authorization. - Annual dividends paid in FY26 amounted to $40.3 million. #### Outlook and Guidance Carpenter Technology Corporation expects Q1 FY27 SAO operating income to be between $218 million and $222 million, and PEP operating income to be $6 million to $7 million. For the full fiscal year 2027, the company anticipates operating income of $850 million to $880 million, representing a 21% to 25% increase over FY26, and expects to generate $400 million to $430 million in adjusted free cash flow. The company targets FY29 operating income of $1,200 million to $1,300 million, reflecting a strong 3-year earnings compound annual growth rate of 20% to 23%, with market dynamics projected to strengthen beyond FY29. ### Related Stocks - [CRS.US](https://longbridge.com/en/quote/CRS.US.md) ## Related News & Research - [Roman Butler Fullerton & Co. Acquires New Holdings in Carpenter Technology Corporation $CRS](https://longbridge.com/en/news/296090591.md) - [Carpenter Technology (NYSE:CRS) Downgraded to Hold Rating by Wall Street Zen](https://longbridge.com/en/news/296668685.md) - [Nike Stock Sinks to Multi-Year Lows: There’s No Quick Fix for NKE Here](https://longbridge.com/en/news/296644838.md) - [Carpenter Technology Announces Additional $1.0 Billion Share Repurchase Program Following Completion of Prior Authorization | CRS Stock News](https://longbridge.com/en/news/295708736.md) - [Carpenter Technology declares quarterly cash dividend of $0.20 a share](https://longbridge.com/en/news/295709299.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**