CRS - Carpenter Technology drops 7% after providing Q2 FY 2022 outlook

Based on the near-term challenges, Carpenter Technology (CRS -6.9%) expects its Specialty Alloys or SAO segment to deliver an operating loss of $20M to $22M in the Q2 FY 2022. Company’s Performance Engineered Products (or PEP) segment continues to benefit from improving demand conditions and is expected to generate operating income in the range of $1M to $2M in Q2 FY 2022. Expected adjusted operating loss to be in the range of $32M to $35M and adjusted EPS loss $0.60 to $0.65.

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Carpenter Technology drops 7% after providing Q2 FY 2022 outlook