Carpenter Technology Reports Q4 & Fiscal Year 2021 Results
Carpenter Technology Corporation has reported a net loss of USD 57.1 million for the fiscal fourth quarter ended June 30, 2021. Carpenter Technology President and CEO Mr Tony R Thene said “Our fourth quarter results finished ahead of our expectations as overall end-use market conditions showed further signs of recovery. We continued to actively manage our business. Fiscal year 2021 has been a challenging yet successful year for Carpenter Technology. Over the past year we executed various portfolio initiatives and targeted cost reductions, further implemented the Carpenter Operating Model to secure notable productivity gains. The long-term outlook for our end-use markets remains attractive and we are well positioned given our mission-critical solutions coupled with leading capabilities and established supply chain position.”
Net sales for the fourth quarter of fiscal year 2021 were USD 421.6 million compared with USD 437.3 million in the fourth quarter of fiscal year 2020.
Operating loss was USD 70.7 million compared to operating loss of USD 148.2 million in the prior year period.
Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial, and consumer electronics markets.