$CRS
CARPENTER TECHNOLOGY CORP

2023 Q4 Form 10-Q Financial Statement

#000001784323000025 Filed on October 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $624.2M $651.9M $758.1M
YoY Change 7.79% 24.67% 34.49%
Cost Of Revenue $501.6M $527.8M $639.1M
YoY Change -1.47% 12.75% 29.98%
Gross Profit $122.6M $124.1M $119.0M
YoY Change 75.14% 126.46% 65.28%
Gross Profit Margin 19.64% 19.04% 15.7%
Selling, General & Admin $52.80M $55.10M $56.10M
YoY Change 11.39% 18.49% 18.35%
% of Gross Profit 43.07% 44.4% 47.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.60M $33.10M $33.50M
YoY Change 3.38% 2.48% 1.82%
% of Gross Profit 27.41% 26.67% 28.15%
Operating Expenses $52.80M $55.10M $56.10M
YoY Change 11.39% 18.49% 18.35%
Operating Profit $69.80M $69.00M $62.90M
YoY Change 208.85% 731.33% 155.69%
Interest Expense $13.00M $12.70M -$14.10M
YoY Change 0.0% 0.79% -22.1%
% of Operating Profit 18.62% 18.41% -22.42%
Other Income/Expense, Net -$1.600M -$4.000M -$200.0K
YoY Change -15.79% 14.29% -104.08%
Pretax Income $55.20M $52.30M $48.60M
YoY Change 616.88% -770.51% 800.0%
Income Tax $12.50M $8.400M $10.20M
% Of Pretax Income 22.64% 16.06% 20.99%
Net Earnings $42.70M $43.90M $38.40M
YoY Change 588.71% -736.23% 1376.92%
Net Earnings / Revenue 6.84% 6.73% 5.07%
Basic Earnings Per Share $0.86 $0.89
Diluted Earnings Per Share $0.85 $0.88 $0.78
COMMON SHARES
Basic Shares Outstanding 49.31M shares 48.85M shares 48.55M shares
Diluted Shares Outstanding 50.20M shares 49.90M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.70M $18.10M $44.50M
YoY Change -21.5% -65.59% -71.14%
Cash & Equivalents $15.70M $18.10M $44.50M
Short-Term Investments
Other Short-Term Assets $88.30M $86.30M $66.40M
YoY Change -10.9% -6.8% -23.5%
Inventory $797.8M $706.7M $639.7M
Prepaid Expenses
Receivables $508.4M $510.8M $531.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.410B $1.322B $1.282B
YoY Change 9.88% 14.8% 14.52%
LONG-TERM ASSETS
Property, Plant & Equipment $1.364B $1.371B $1.384B
YoY Change -1.89% -2.2% -2.6%
Goodwill $241.4M $241.4M $241.4M
YoY Change 0.0% 0.0% 0.0%
Intangibles $25.40M $26.80M $28.70M
YoY Change -19.87% -18.29% -18.47%
Long-Term Investments
YoY Change
Other Assets $111.3M $108.9M $118.1M
YoY Change 6.71% 1.68% 7.56%
Total Long-Term Assets $1.749B $1.755B $1.772B
YoY Change -1.36% -1.87% -2.26%
TOTAL ASSETS
Total Short-Term Assets $1.410B $1.322B $1.282B
Total Long-Term Assets $1.749B $1.755B $1.772B
Total Assets $3.159B $3.077B $3.054B
YoY Change 3.36% 4.66% 4.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $313.4M $315.5M $278.1M
YoY Change 2.86% 9.55% 14.87%
Accrued Expenses $158.4M $133.1M $181.3M
YoY Change 27.33% 8.3% 35.81%
Deferred Revenue $13.50M $11.00M $14.00M
YoY Change -2.17% -28.57% -2.78%
Short-Term Debt $13.90M $0.00 $0.00
YoY Change -82.88%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $485.7M $448.6M $459.4M
YoY Change -4.82% 9.17% 22.31%
LONG-TERM LIABILITIES
Long-Term Debt $693.6M $693.3M $693.0M
YoY Change 0.17% 0.17% 0.17%
Other Long-Term Liabilities $98.90M $97.70M $335.1M
YoY Change 6.34% 2.3% 241.94%
Total Long-Term Liabilities $792.5M $791.0M $1.028B
YoY Change 0.9% 0.43% 30.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $485.7M $448.6M $459.4M
Total Long-Term Liabilities $792.5M $791.0M $1.028B
Total Liabilities $1.685B $1.648B $1.658B
YoY Change -2.88% 0.88% 3.5%
SHAREHOLDERS EQUITY
Retained Earnings $1.295B $1.262B $1.228B
YoY Change 8.74% 5.67% 1.4%
Common Stock $611.1M $603.0M $609.1M
YoY Change 2.64% 1.45% 1.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.474B $1.429B $1.396B
YoY Change
Total Liabilities & Shareholders Equity $3.159B $3.077B $3.054B
YoY Change 3.36% 4.66% 4.15%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $42.70M $43.90M $38.40M
YoY Change 588.71% -736.23% 1376.92%
Depreciation, Depletion And Amortization $33.60M $33.10M $33.50M
YoY Change 3.38% 2.48% 1.82%
Cash From Operating Activities $14.50M $7.400M $174.9M
YoY Change -116.76% -109.49% 63.46%
INVESTING ACTIVITIES
Capital Expenditures $25.30M $22.00M $30.80M
YoY Change -244.57% -262.96% -193.9%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$25.30M -$22.00M -$30.80M
YoY Change 44.57% 62.96% -4.94%
FINANCING ACTIVITIES
Cash Dividend Paid $9.900M
YoY Change 1.02%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.400M -$12.90M -117.2M
YoY Change -88.19% -0.77% -62.88%
NET CHANGE
Cash From Operating Activities 14.50M $7.400M 174.9M
Cash From Investing Activities -25.30M -$22.00M -30.80M
Cash From Financing Activities 8.400M -$12.90M -117.2M
Net Change In Cash -2.400M -$26.40M 26.90M
YoY Change -92.71% -74.02% -111.16%
FREE CASH FLOW
Cash From Operating Activities $14.50M $7.400M $174.9M
Capital Expenditures $25.30M $22.00M $30.80M
Free Cash Flow -$10.80M -$14.60M $144.1M
YoY Change -84.35% -77.36% 3.08%

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CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2023Q3 crs Inventory Finished Goods And Purchased Parts Net Of Reserves
InventoryFinishedGoodsAndPurchasedPartsNetOfReserves
125700000 usd
CY2023Q2 crs Inventory Finished Goods And Purchased Parts Net Of Reserves
InventoryFinishedGoodsAndPurchasedPartsNetOfReserves
111900000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
706700000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
639700000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
59700000 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
92400000 usd
CY2023Q3 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
16100000 usd
CY2023Q2 us-gaap Postemployment Benefits Liability Current
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16100000 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
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11000000.0 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
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CY2023Q3 us-gaap Operating Lease Liability Current
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CY2023Q2 us-gaap Operating Lease Liability Current
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CY2023Q3 us-gaap Derivative Liabilities Current
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CY2023Q2 us-gaap Derivative Liabilities Current
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CY2023Q2 us-gaap Interest Payable Current
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CY2023Q3 us-gaap Taxes Payable Current
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5600000 usd
CY2023Q2 us-gaap Taxes Payable Current
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4900000 usd
CY2023Q3 us-gaap Defined Benefit Pension Plan Liabilities Current
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3300000 usd
CY2023Q2 us-gaap Defined Benefit Pension Plan Liabilities Current
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CY2023Q3 us-gaap Accrued Income Taxes Current
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CY2023Q2 us-gaap Accrued Income Taxes Current
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CY2023Q3 us-gaap Other Accrued Liabilities Current
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CY2023Q2 us-gaap Other Accrued Liabilities Current
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CY2023Q3 us-gaap Accrued Liabilities Current
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133100000 usd
CY2023Q2 us-gaap Accrued Liabilities Current
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181300000 usd
CY2023Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
13200000 usd
CY2022Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
12900000 usd
CY2023Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
500000 usd
CY2022Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
300000 usd
CY2023Q3 us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
400000 usd
CY2023Q3 us-gaap Accrual For Environmental Loss Contingencies Gross
AccrualForEnvironmentalLossContingenciesGross
16900000 usd
CY2023Q2 us-gaap Accrual For Environmental Loss Contingencies Gross
AccrualForEnvironmentalLossContingenciesGross
16500000 usd
CY2023Q3 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
4700000 usd
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
7900000 usd
CY2023Q2 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2023Q3 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-300000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
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CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
1400000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
6700000 usd
CY2023Q3 crs Cost Of Goods And Services Sold Excluding Inventory Write Down
CostOfGoodsAndServicesSoldExcludingInventoryWriteDown
527800000 usd
CY2022Q3 crs Cost Of Goods And Services Sold Excluding Inventory Write Down
CostOfGoodsAndServicesSoldExcludingInventoryWriteDown
468100000 usd
CY2023Q3 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-3400000 usd
CY2023Q3 us-gaap Interest Income Other
InterestIncomeOther
200000 usd
CY2022Q3 us-gaap Interest Income Other
InterestIncomeOther
100000 usd
CY2023Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-300000 usd
CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-100000 usd
CY2023Q3 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
-400000 usd
CY2022Q3 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
-1000000.0 usd
CY2023Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
3500000 usd
CY2022Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
2500000 usd
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4000000.0 usd
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3500000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8400000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.161
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-900000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.115
CY2023Q3 crs Effective Income Tax Rate Reconciliation Legal Change Amount
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4100000 usd
CY2022Q3 crs Effective Income Tax Rate Reconciliation Legal Change Amount
EffectiveIncomeTaxRateReconciliationLegalChangeAmount
600000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
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CY2023Q3 us-gaap Number Of Reportable Segments
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2 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
651900000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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522900000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
69000000.0 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
8300000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33100000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
32300000 usd
CY2023Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
22000000.0 usd
CY2022Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
13500000 usd
CY2023Q3 us-gaap Assets
Assets
3076800000 usd
CY2023Q2 us-gaap Assets
Assets
3053900000 usd
CY2023Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-2300000 usd
CY2023Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
200000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2500000 usd
CY2022Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-3500000 usd
CY2022Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
4100000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-7600000 usd
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

Files In Submission

Name View Source Status
crs-20230930_def.xml Edgar Link unprocessable
crs-20230930_cal.xml Edgar Link unprocessable
0000017843-23-000025-index-headers.html Edgar Link pending
0000017843-23-000025-index.html Edgar Link pending
0000017843-23-000025.txt Edgar Link pending
0000017843-23-000025-xbrl.zip Edgar Link pending
crs-20230930.htm Edgar Link pending
crs-20230930.xsd Edgar Link pending
crs-ex31ax2023930.htm Edgar Link pending
crs-ex31bx2023930.htm Edgar Link pending
crs-ex32x2023930.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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crs-20230930_lab.xml Edgar Link unprocessable
crs-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
crs-20230930_htm.xml Edgar Link completed
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report.css Edgar Link pending
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