Carpenter (CRS) Down 8.4% Since Last Earnings Report: Can It Rebound?

It has been about a month since the last earnings report for Carpenter Technology (CRS). Shares have lost about 8.4% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Carpenter due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Carpenter Technology’s Loss Narrower Than Expected in Q4

Operational Results

Segment Performance

Financials

The company exited fiscal 2020 with cash and cash equivalents of $193 million compared with the $27 million recorded at fiscal 2019 end. Long-term debt was $551.8 million at the end of fiscal 2020 compared with $550.6 million as of fiscal 2019 end. Cash provided by operating activities were $231.8 million in fiscal 2020 compared with the prior fiscal’s $232.4 million.

Outlook

Fiscal 2020 Performance

Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

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