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Carpenter Technology Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary29 Jan, 2026
Executive summary
Achieved record quarterly operating income of $155.2 million, up 31% year-over-year for Q2 FY2026, driven by strong execution, market position, and unique capabilities.
Net income for Q2 FY2026 was $105.3 million ($2.09 per diluted share), with adjusted EPS of $2.33, excluding debt extinguishment losses.
Strong demand in Aerospace & Defense, with commercial aerospace bookings up 23% sequentially and robust pricing environment.
Completed several long-term agreements with aerospace customers at significant price increases.
Financial highlights
Net sales for Q2 FY2026 were $728.0 million, up 8% year-over-year; gross profit reached $218.3 million, up 23% year-over-year.
Adjusted operating margin (excluding surcharge revenue and special items) was 26.3% for Q2 FY2026, up from 21.7% a year ago.
Cash from operating activities was $132.2 million, nearly doubling from $67.9 million a year ago.
Adjusted free cash flow for the quarter was $85.9 million, up from $38.6 million year-over-year.
Effective tax rate for Q2 FY2026 was 19.0%.
Outlook and guidance
Fiscal 2026 operating income guidance raised to $680 million–$700 million, a 30%–33% increase over record fiscal 2025.
Adjusted free cash flow for FY2026 projected at least $280 million.
Q3 FY2026 operating income expected at $177 million–$182 million, with SAO at $195 million–$200 million and PEP at ~$7 million.
Fiscal 2027 guidance of $765 million–$800 million expected to be updated in coming quarters; further earnings growth anticipated beyond FY2027.
Capital expenditures for FY2026 projected at $300 million–$315 million, including brownfield expansion.
Aerospace LTA value realization impact
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Next Carpenter Technology earnings date
Q3 202623 Apr, 2026
Carpenter Technology
Next Carpenter Technology earnings date
Q3 202623 Apr, 2026
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Frequently asked questions
Carpenter Technology Corporation manufactures and distributes specialty metals and engineered products, including stainless steels, titanium alloys, and powder metals. Its products serve industries such as aerospace, medical, transportation, and energy. The company is headquartered in Philadelphia, Pennsylvania, and its shares are listed on the NYSE.
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