Carpenter Technology Corporation announced its financial results for the fiscal second quarter ended December 31, 2024, reporting a record operating income of $118.9 million. This marks the company's second most profitable quarter on record, with earnings per diluted share of $1.66.
Net sales for the quarter reached $676.9 million, an 8% increase compared to the second quarter of fiscal year 2024. The Specialty Alloys Operations (SAO) segment continued its strong performance, achieving $135.6 million in operating income and expanding its adjusted operating margin to 28.3%, representing the twelfth consecutive quarter of margin growth.
The company generated $38.6 million in adjusted free cash flow for the quarter, contributing to a strong balance sheet. Management increased its fiscal year 2025 operating income guidance to a range of $500 million to $520 million, highlighting accelerated progress towards its financial targets. Carpenter Technology also repurchased 45,000 shares for $8.2 million under its authorized program.
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