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CRS - Carpenter Tech issues lower than expected Q4 outlook
Carpenter Technology Corporation
Carpenter Technology (CRS+1.1%) expects Q4 adjusted operating loss of $16M to $21M, with adjusted EPS loss of $0.30 - $0.38, vs. consensus of $0.18, primarily due to reduction in inventory by $100M-$120M, a major contributor to the lower than anticipated operating income.
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