Wall Street analysts forecast that Carpenter Technology (CRS) will report quarterly earnings of $2.13 per share in its upcoming release, pointing to a year-over-year increase of 23.1%. It is anticipated that revenues will amount to $729.14 million, exhibiting an increase of 1.6% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Carpenter metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Net Sales- End-Use Market Excluding Surcharge Revenue- Total' will reach $595.69 million. The estimate suggests a change of +3.2% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- End-Use Market Excluding Surcharge Revenue- Surcharge revenue' of $137.58 million. The estimate indicates a year-over-year change of -1.9%.
Based on the collective assessment of analysts, 'Net Sales- Performance Engineered Products' should arrive at $103.31 million. The estimate suggests a change of +2.5% year over year.
The combined assessment of analysts suggests that 'Net Sales- Specialty Alloys Operations' will likely reach $669.86 million. The estimate suggests a change of +3.8% year over year.
The consensus among analysts is that 'Volumes Sold in Pounds - Specialty Alloys Operations' will reach 44.94 million. Compared to the current estimate, the company reported 50.10 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Volumes Sold in Pounds' should come in at 46.70 million. The estimate compares to the year-ago value of 51.57 million.
Analysts forecast 'Operating Income- Performance Engineered Products' to reach $10.98 million. The estimate compares to the year-ago value of $7.30 million.
It is projected by analysts that the 'Operating Income- Specialty Alloys Operations' will reach $163.59 million. The estimate is in contrast to the year-ago figure of $134.50 million.
View all Key Company Metrics for Carpenter here>>>
Over the past month, Carpenter shares have recorded returns of -0.7% versus the Zacks S&P 500 composite's +1.1% change. Based on its Zacks Rank #3 (Hold), CRS will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Carpenter Technology Corporation (CRS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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