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CARPENTER TECHNOLOGY CORPCRS

Sector
Other
Industry
Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Exchange
NYSE

Stock Price $CRS

Latest filings

You are here#13 of 15 in Materials by market cap

Filing record · 2016–202610-K1110-Q328-K139

CRS filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 139 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’17Apr ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Leadership change8-K · Oct ’21Oct ’21
  4. Material agreement8-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $2.88B
YoY changeLargest recent move+38.9%in FY23Latest +4.3%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All CRS Financial Metrics60 metrics

Income Statement14

Balance Sheet28

Cash Flow13

Per Share5

02—Overview

CARPENTER TECHNOLOGY CORP Financial Overview 2021–2025

Updated Aug 8, 2026

Carpenter Technology engineered a staggering profitability swing, reporting a record $521.8 milliona operating income in FY2025 after suffering a $229.6 million net loss just four years prior. This dramatic recovery proves the company holds immense pricing power within the aerospace and defense supply chain, allowing it to efficiently pass on raw material costs and optimize its product mix. Total revenue reflects this sustained expansion, growing from $1,475.6 million in FY2021 to $2.88 billion in FY2025.

The underlying engine of this growth is the Specialty Alloys Operations segment, which delivered a 23.0% operating margin in FY2025. As end-market demand surged, the company successfully converted top-line momentum into robust liquidity, generating $287.5 millionb in adjusted free cash flow during FY2025. Management directed this cash toward capacity expansions and shareholder returns, repurchasing $101.9 million in common stock over the same period. Investors heavily rewarded this fundamental execution. At the close of FY2025, the stock traded at $276.38, commanding a 37.2x earnings multiple and a $13.7 billion market cap.

Recent Developments (Q2 and Q3 2026)

Carpenter Technology sustained its impressive operational momentum through Q3 2026, punctuated by a tragic leadership shift. Third-quarter net sales climbed 12% year-over-year to $811.5 millionc, driven by a 17% jump in Aerospace and Defense demand. This top-line expansion fueled a 35% surge in operating income to $186.5 million. However, the company faces abrupt executive upheaval. Shortly after taking over as CEO on July 1, 2026, Brian J. Malloy unexpectedly passed away on July 24, 2026, prompting former chief Tony R. Thene to immediately return as interim CEO.

Bulls argue the ability to nearly double nine-month operating cash flow to $364.9 milliond provides massive ammunition for brownfield capacity expansions. Conversely, bears caution that the sudden leadership transition introduces execution risk at a time when shares are richly valued. Trading at 54.8x earnings as of April 29, 2026, the stock's elevated multiple leaves little margin for error.

What to watch: stabilization of the executive leadership team under Tony R. Thene; progress on current brownfield expansion initiatives

03—Filings

Recent SEC Filings

  1. 8-KCARPENTER TECHNOLOGY CORP 8-K Report, Shareholder Vote Results (Oct 8, 2026)Carpenter Technology Corporation (CRS) held its Annual Meeting of Stockholders on October 6, 2026. The primary purpose of the filing was to report the outcomes of various shareholder votes. Key among these were the election of three directors to the Board, the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2027, and an advisory vote on the compensation of named executive officers. All presented proposals received substantial support from shareholders. The elected directors, Steven E. Karol, Charles D. McLane, Jr., and Tony R. Thene, received strong majorities of "Votes For," indicating shareholder confidence in their leadership. Similarly, the appointment of PricewaterhouseCoopers LLP was overwhelmingly ratified, and the compensation of the company's top executives was also approved in an advisory capacity. These results suggest shareholder alignment with the company's current governance and executive compensation structures.
  2. 8-KCARPENTER TECHNOLOGY CORP 8-K Report, Regulation FD Disclosure (Aug 25, 2026)Carpenter Technology Corporation (CRS) filed an 8-K on August 25, 2026, to disclose a stock sale by its Chairman, President, and CEO, Tony R. Thene. Mr. Thene sold 109,283 shares of common stock. The stated reasons for the sale were estate planning, tax planning, and financial diversification. Importantly, despite this sale, Mr. Thene retains a significant ownership stake of 466,697 shares, including those held in family trusts and unvested restricted share units. This substantial holding positions him as one of the top 20 largest stockholders in the Company. The filing emphasizes that this sale reflects his continued confidence in Carpenter Technology's future prospects and its capacity to generate long-term shareholder value.
  3. 8-KCARPENTER TECHNOLOGY CORP 8-K Report, Executive Changes (Aug 12, 2026)Carpenter Technology Corporation (CRS) announced significant changes to its Board of Directors. Ken J. Giacobbe has been appointed as a Class III director, effective August 11, 2026, with his term extending to the 2028 annual meeting. Mr. Giacobbe brings extensive financial and executive leadership experience from the aerospace and advanced manufacturing sectors, having previously served as CFO for Howmet Aerospace Inc. and Arconic Inc. His appointment is expected to bolster the board's expertise in critical industry areas. The company also disclosed the upcoming departures of two existing directors, Howard Yu and Colleen Pritchett. Mr. Yu will step down on October 6, 2026, following the annual stockholders' meeting, while Ms. Pritchett has decided not to seek re-election at the same meeting. Notably, neither director's departure is attributed to any disagreements with the company or its management.
  4. 8-KCARPENTER TECHNOLOGY CORP 8-K Report, Financial Results (Jul 30, 2026)Carpenter Technology Corporation (CRS) has filed an 8-K report on July 30, 2026, primarily announcing its fourth quarter and full fiscal year 2026 earnings call. The report indicates that the company held this call, and a presentation deck accompanying the call has been furnished as Exhibit 99.1. This filing does not contain detailed financial results within the 8-K itself but directs investors to the supplemental materials provided with the earnings call for in-depth financial performance and operational insights for fiscal year 2026. Investors should review the furnished slides to understand the company's performance and outlook.
  5. 8-KCARPENTER TECHNOLOGY CORP 8-K Report, Financial Results (Jul 30, 2026)Carpenter Technology Corporation (CRS) has filed an 8-K report on July 30, 2026, to announce its fiscal year 2026 fourth quarter and full-year results for the period ending June 30, 2026. The key financial and operational performance details are contained within the press release furnished as Exhibit 99.1, which provides investors with the latest updates on the company's financial condition and results of operations. Investors should review this press release for specific figures related to revenue, profitability, and any forward-looking statements or guidance provided by management.
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04—See also

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