Carpenter Technology (CRS) Stock Price Sinks After Q1 Earnings Beat

Carpenter Technology just dropped its Q1 FY2027 scorecard and the share price reaction was brutal. The stock closed on Thursday, then fell about 21% to US$292.26 on Friday, even as the company reported diluted EPS of about US$3.25 and record first quarter operating income of US$196.4 million. Traders focused on the sharp move in the chart. The fundamental picture pointed to thick profitability, with steel and alloys operations posting a 37.7% adjusted operating margin that most industrial...