Carpenter Technology Corp. (CRS) reported a profit for third quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $6.3 million, or $0.12 per share. This compares with $18.6 million, or $0.38 per share, in last year's third quarter.
Excluding items, Carpenter Technology Corp. reported adjusted earnings of $1.19 per share for the period.
Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.8% to $684.9 million from $690.1 million last year.
Carpenter Technology Corp. earnings at a glance (GAAP) :
-Earnings (Q3): $6.3 Mln. vs. $18.6 Mln. last year.
-EPS (Q3): $0.12 vs. $0.38 last year.
-Revenue (Q3): $684.9 Mln vs. $690.1 Mln last year.
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