$CRS

CARPENTER TECHNOLOGY CORP

CIK:0000017843|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Net sales	$ 3,124,200,000	$ 2,877,100,000	$ 2,759,700,000
Cost of sales	2,168,700,000	2,108,500,000	2,175,400,000
Gross profit	955,500,000	768,600,000	584,300,000
Selling, general and administrative expenses	253,500,000	243,200,000	230,200,000
Goodwill impairment charge	0	0	14,100,000
Restructuring and asset impairment charges	0.0	3,600,000	16,900,000
Operating income	702,000,000.0	521,800,000	323,100,000
Interest expense, net	37,800,000	48,400,000	51,000,000.0
Debt extinguishment losses	(15,600,000)	0	0
Other (income) expense, net	(7,600,000)	6,100,000	60,500,000
Income before income taxes	656,200,000	467,300,000	211,600,000
Income tax expense	126,400,000	91,300,000	25,100,000
Net income	$ 529,800,000	$ 376,000,000.0	$ 186,500,000
EARNINGS PER COMMON SHARE:
Basic (in dollars per share)	$ 10.59	$ 7.50	$ 3.75
Diluted (in dollars per share)	$ 10.52	$ 7.42	$ 3.70
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	50.0	50.2	49.7
Diluted (in shares)	50.4	50.7	50.3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
OPERATING ACTIVITIES
Net income	$ 529,800,000	$ 376,000,000.0	$ 186,500,000
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	147,100,000	139,200,000	134,600,000
Goodwill impairment charge	0	0	14,100,000
Noncash restructuring and asset impairment charges	0	2,500,000	15,800,000
Debt extinguishment losses	15,600,000	0	0
Deferred income taxes	21,200,000	(17,400,000)	(13,300,000)
Net pension expense	14,600,000	24,800,000	76,000,000.0
Share-based compensation expense	26,400,000	22,800,000	19,800,000
Net loss on disposal of property, plant, and equipment and assets held for sale	1,400,000	2,000,000.0	4,600,000
Changes in working capital and other:
Accounts receivable	(128,300,000)	(1,800,000)	(32,600,000)
Inventories	(28,400,000)	(60,400,000)	(96,700,000)
Other current assets	20,000,000.0	13,700,000	(31,300,000)
Accounts payable	17,200,000	(1,400,000)	(11,000,000.0)
Accrued liabilities	3,100,000	13,700,000	23,600,000
Pension plan contributions	(23,800,000)	(64,800,000)	(11,300,000)
Other postretirement plan contributions	(4,000,000.0)	(3,600,000)	(2,600,000)
Other, net	(6,900,000)	(4,900,000)	(1,300,000)
Net cash provided from operating activities	605,000,000.0	440,400,000	274,900,000
INVESTING ACTIVITIES
Purchases of property, plant, equipment and software	(242,700,000)	(154,300,000)	(96,600,000)
Proceeds from disposals of property, plant and equipment and assets held for sale	0	1,400,000	700,000
Net cash used for investing activities	(242,700,000)	(152,900,000)	(95,900,000)
FINANCING ACTIVITIES
Credit agreement borrowings	0	0	62,500,000
Credit agreement repayments	0	0	(62,500,000)
Proceeds from issuance of long-term debt, net of offering costs	692,100,000	0	0
Payments on long-term debt	(700,000,000.0)	0	0
Payments for debt extinguishment costs	(11,400,000)	0	0
Payments for debt issue costs	(4,100,000)	0	0
Dividends paid	(40,300,000)	(40,300,000)	(40,000,000.0)
Purchases of treasury stock	(179,100,000)	(101,900,000)	0
Proceeds from stock options exercised	14,300,000	13,400,000	40,900,000
Withholding tax payments on share-based compensation awards	(58,300,000)	(38,300,000)	(24,200,000)
Net cash used for financing activities	(286,800,000)	(167,100,000)	(23,300,000)
Effect of exchange rate changes on cash and cash equivalents	2,300,000	(4,000,000.0)	(1,100,000)
INCREASE IN CASH AND CASH EQUIVALENTS	77,800,000	116,400,000	154,600,000
Cash and cash equivalents at beginning of year	315,500,000	199,100,000	44,500,000
Cash and cash equivalents at end of year	$ 393,300,000	$ 315,500,000	$ 199,100,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 393.3	$ 315.5
Accounts receivable, net of allowance for doubtful accounts of $9.4 million and $$7.9 million at June 30, 2026 and 2025, respectively	701.9	575.5
Inventories	822.9	793.8
Other current assets	63.1	79.9
Total current assets	1,981.2	1,764.7
Property, plant, equipment and software, net	1,487.9	1,359.4
Goodwill	227.3	227.3
Other intangibles, net	3.9	9.5
Deferred income taxes	5.5	7.8
Other assets	132.5	118.1
Total assets	3,838.3	3,486.8
Current liabilities:
Accounts payable	313.4	267.4
Accrued liabilities	206.6	216.3
Total current liabilities	520.0	483.7
Long-term debt	690.7	695.4
Accrued pension liabilities	89.6	146.9
Accrued postretirement benefits	22.2	12.5
Deferred income taxes	196.9	162.8
Other liabilities	91.3	98.5
Total liabilities	1,610.7	1,599.8
Contingencies and commitments (see Note $12)
STOCKHOLDERS' EQUITY
Common stock — authorized 100,000,000 shares; issued 57,359,343 shares at June 30, 2026, and 57,230,002 shares at June 30, 2025; outstanding 49,606,583 shares at June 30, 2026, and 49,707,379 shares at June 30, 2025	286.8	286.2
Capital in excess of par value	357.1	354.3
Reinvested earnings	2,199.7	1,710.2
Common stock in treasury (7,752,760 shares and 7,522,623 shares at June 30, 2026 and 2025, respectively), at cost	(595.6)	(395.8)
Accumulated other comprehensive loss	(20.4)	(67.9)
Total stockholders' equity	2,227.6	1,887.0
Total liabilities and stockholders' equity	$ 3,838.3	$ 3,486.8