Carpenter Technology Corporation announced its financial results for the fiscal third quarter ended March 31, 2025, reporting a record operating income of $137.8 million. This performance exceeded previous guidance, with earnings per diluted share reaching $1.88.
Net sales for the quarter were $727.0 million, a 6% increase compared to the third quarter of fiscal year 2024. The Specialty Alloys Operations (SAO) segment continued its strong trajectory, achieving $151.4 million in operating income and expanding its adjusted operating margin to a record 29.1%, marking the thirteenth consecutive quarter of margin growth.
The company generated $34.0 million in adjusted free cash flow during the quarter and utilized $37.5 million for share repurchases, bringing total purchases for the fiscal year to $77.8 million. Management raised its full fiscal year 2025 operating income guidance to a range of $520 million to $527 million, representing a nearly 50% increase over fiscal year 2024 adjusted operating income. The long-term goal of $765 million to $800 million in operating income for fiscal year 2027 was also reiterated.
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