CarTech expecting sharp earnings boost
Jan 16, 2013 | 02:01 PM
| Daniel Fitzgerald
Tags
Carpenter Technologies,
CarTech,
earnings forecast,
William A. Wulfsohn,
Daniel Fitzgerald
NEW YORK — Carpenter Technology Corp. expects its full-year operating earnings in the fiscal year ending June 30, 2013, to be 20 to 30 percent higher than in the previous fiscal year, although the company identified “uncertainty in demand for lower-value mill products” as a challenge.
The projected earnings increase is being driven "primarily by the acquisition of Latrobe Specialty Metals Inc. (amm.com, April 25), which is delivering higher-than-expected synergies and improved overall pricing/mix actions," the company said. The earnings target excludes the anticipated financial impact of selling the Latrobe distribution business.....
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