Filing Flows › Carpenter Technology (CRS) › Q1 FY26
Carpenter Technology (CRS) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Oct 23, 2025
Carpenter Technology (CRS) reported revenue of $734M for the first quarter fiscal 2026 (Q1 FY26), +2% from a year earlier and -3% from the quarter before. Operating margin was 20.9%, net earnings $122M (16.7% of revenue).
Carpenter Technology, Q1 FY26: revenue $734M (+2% year over year), operating margin 20.9%, net earnings $122M, operating cash flow $39.2M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $734M | -3% | +2% |
| Gross profit | $216M | +1% | +23% |
| Operating profit | $153M | +1% | +35% |
| Net earnings | $122M | +10% | +44% |
| Operating cash flow | $39.2M | -85% | -2% |
What changed
Revenue was $733.7M in Q1 FY26, up 2% year over year and down 3% from the previous quarter. Aerospace and Defense was the largest line at 64% of revenue. Aerospace and Defense added $33.5M year over year (up 8%), 208% of the total change. Transportation declined 19%.
Gross margin was 29.5%, up 4.9 points from a year earlier. Operating profit was $153.3M, a 20.9% margin (up 5.1 points year over year). Of the extra revenue versus a year earlier, 247% reached operating profit, above the 16% margin then. Operating expenses grew 1% against revenue growth of 2%. Net earnings were $122.5M, up 44% year over year. The effective tax rate was 15.4%.
Operating cash flow was $39.2M (down 2% year over year), 32% of net earnings. Non-cash charges added back $36.0M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items used $124.9M. Capital expenditures of $42.6M exceeded it, leaving free cash flow of −$3.4M.
Questions
What was Carpenter Technology's revenue in the first quarter fiscal 2026?
Carpenter Technology (CRS) reported revenue of $734M for the first quarter fiscal 2026 (Q1 FY26), +2% from a year earlier and -3% from the quarter before.
Was Carpenter Technology profitable in the first quarter fiscal 2026?
Operating profit was $153M (20.9% of revenue) and net earnings $122M.