Filing Flows › Carpenter Technology (CRS) › Q3 FY26
Carpenter Technology (CRS) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Apr 29, 2026
Carpenter Technology (CRS) reported revenue of $812M for the third quarter fiscal 2026 (Q3 FY26), +12% from a year earlier and +11% from the quarter before. Operating margin was 23.0%, net earnings $140M (17.2% of revenue).
Carpenter Technology, Q3 FY26: revenue $812M (+12% year over year), operating margin 23.0%, net earnings $140M, operating cash flow $194M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $812M | +11% | +12% |
| Gross profit | $252M | +15% | +25% |
| Operating profit | $186M | +20% | +35% |
| Net earnings | $140M | +33% | +46% |
| Operating cash flow | $194M | +46% | +161% |
| Free cash flow | $125M | +45% | +267% |
What changed
Revenue was $811.5M in Q3 FY26, up 12% year over year and up 11% from the previous quarter. Aerospace and Defense was the largest line at 66% of revenue. Aerospace and Defense added $79.5M year over year (up 17%), 94% of the total change. Medical declined 23%.
Gross margin was 31.0%, up 3.4 points from Q3 FY25. Operating profit was $186.5M, a 23.0% margin (up 4.0 points year over year). Of the extra revenue versus Q3 FY25, 58% reached operating profit, above the 19% margin then. Operating expenses grew 4% against revenue growth of 12%. Net earnings were $139.6M, up 46% year over year. The effective tax rate was 21.0%.
Operating cash flow was $193.5M (up 161% year over year), 139% of net earnings. Non-cash charges added back $36.7M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items added $10.2M. Capital expenditures of $68.7M left free cash flow of $124.8M.
Questions
What was Carpenter Technology's revenue in the third quarter fiscal 2026?
Carpenter Technology (CRS) reported revenue of $812M for the third quarter fiscal 2026 (Q3 FY26), +12% from a year earlier and +11% from the quarter before.
Was Carpenter Technology profitable in the third quarter fiscal 2026?
Operating profit was $186M (23.0% of revenue) and net earnings $140M.