CRS - Carpenter Technology sets goal to double operating income by FY 2027
2023-05-16 09:44:53 ET
Carpenter Technology ( NYSE: CRS ) said Tuesday it will seek to double operating income by FY 2027 from FY 2019 levels, driven by higher prices, an improving product mix and increasing volumes.
Carpenter Tech ( CRS ) said it expects to generate $400M-$600M in cumulative adjusted free cash flow during FY 2024-27.
By segment, the Specialty Alloys Operations segment is seen exceeding 20% adjusted operating income margins on net sales of $2.2B-$2.4B in FY 2027, and the Performance Engineered Products segment is seen reaching adjusted operating income margins of 13%-15% on $570M-$610M net sales in FY 2027.
"Carpenter Technology is at an inflection point, with the opportunity to realize meaningful, profitable growth," President and CEO Tony Thene said.
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Carpenter Technology sets goal to double operating income by FY 2027