Why Carpenter Technology Stock Crashed After Earnings
Shares of Philadelphia-based specialty metals company Carpenter Technology Corporation (NYSE:CRS) imploded on Thursday, falling 22.2% through 12:50 p.m. ET after reporting mixed earnings this morning. Analysts forecast Carpenter to earn $3.04 per share -- and Carpenter beat that number, reporting a $3.25 per share profit for its fiscal Q1 2027. However, analysts also forecast Carpenter to do $830.8 million in sales, but the most Carpenter could manage was $798.5 million. Image source: Getty Images. Continue reading