Analysts on Wall Street project that Carpenter Technology (CRS) will announce quarterly earnings of $2.20 per share in its forthcoming report, representing an increase of 32.5% year over year. Revenues are projected to reach $728.57 million, increasing 7.6% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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 expect 'Net Sales- End-Use Market Excluding Surcharge Revenue- Total' to come in at $598.21 million. The estimate suggests a change of +9.2% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- End-Use Market Excluding Surcharge Revenue- Surcharge revenue' of $133.03 million. The estimate indicates a year-over-year change of +3.2%.
The combined assessment of analysts suggests that 'Net Sales- Performance Engineered Products' will likely reach $97.43 million. The estimate points to a change of +2.6% from the year-ago quarter.
Analysts forecast 'Net Sales- Specialty Alloys Operations' to reach $666.33 million. The estimate suggests a change of +10.8% year over year.
According to the collective judgment of analysts, 'Volumes Sold in Pounds - Specialty Alloys Operations' should come in at 44.86 million. Compared to the current estimate, the company reported 44.71 million in the same quarter of the previous year.
The consensus among analysts is that 'Volumes Sold in Pounds' will reach 46.45 million. The estimate compares to the year-ago value of 46.17 million.
It is projected by analysts that the 'Operating Income- Performance Engineered Products' will reach $9.57 million. Compared to the present estimate, the company reported $7.00 million in the same quarter last year.
The average prediction of analysts places 'Operating Income- Specialty Alloys Operations' at $170.94 million. Compared to the current estimate, the company reported $135.60 million in the same quarter of the previous year.
View all Key Company Metrics for Carpenter here>>>
Carpenter shares have witnessed a change of +7.1% in the past month, in contrast to the Zacks S&P 500 composite's +0.4% move. With a Zacks Rank #2 (Buy), CRS is expected outperform the overall market performance in the near term. 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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