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How Carpenter Technology (CRS) makes money

Carpenter Technology (CRS) made $798M of revenue in the first quarter fiscal 2027 (Q1 FY27), +9% from a year earlier. Aerospace and Defense brought in $535M (67%); Industrial and Consumer brought in $103M (13%); Medical brought in $65.5M (8%). Of every dollar of revenue, 32¢ was left as gross profit, 25¢ was left as operating profit, 20¢ was left as net earnings.

Drawing the Sankey…

Carpenter Technology revenue by segment, Q1 FY27Carpenter Technology revenue by segment, Q1 FY27Aerospace and Defense$535MIndustrial and Consumer$103MMedical$65.5MEnergy$46.5MTransportation$26.8MDistribution$22.1M
Carpenter Technology: revenue by line, Q3 FY25 to Q1 FY27Carpenter Technology: revenue by line, Q3 FY25 to Q1 FY27Aerospace and DefenseIndustrial and Consum…MedicalEnergyTransportationDistributionAerospace and Defense: $535M latest$535MIndustrial and Consumer: $103M latest$103MMedical: $65.5M latest$65.5MEnergy: $46.5M latestTransportation: $26.8M latestDistribution: $22.1M latestQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Aerospace and Defense went from 63% of revenue in Q3 FY25 to 67% in Q1 FY27, the largest shift in the mix.
Carpenter Technology revenue by quarterCarpenter Technology revenue by quarter$727MQ3 FY25$756MQ4 FY25$734MQ1 FY26$728MQ2 FY26$812MQ3 FY26$851MQ4 FY26$798MQ1 FY27
Carpenter Technology: where each dollar of revenue goesCarpenter Technology: where each dollar of revenue goesCost of revenue68¢Gross profit32¢Operating expenses8¢Operating profit25¢Income tax4¢Net earnings20¢Operating cash flow7¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Aerospace and Defense$535M67.0%-4%+14%
Industrial and Consumer$103M12.9%-12%+11%
Medical$65.5M8.2%-3%-12%
Energy$46.5M5.8%-17%-15%
Transportation$26.8M3.4%-11%+18%
Distribution$22.1M2.8%+0.5%+23%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$798M100.0%
Cost of revenue$542M67.9%
Gross profit$256M32.1%
Operating expenses$59.9M7.5%
Operating profit$196M24.6%
Income tax$29.9M3.7%
Net earnings$162M20.4%
Operating cash flow$52.8M6.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$798M+9%
Q4 FY26$851M+13%
Q3 FY26$812M+12%
Q2 FY26$728M+8%
Q1 FY26$734M+2%
Q4 FY25$756M-5%
Q3 FY25$727M+6%

From Carpenter Technology's 10-Q filed Oct 22, 2026 (on EDGAR).

Questions

How does Carpenter Technology make money?

Carpenter Technology (CRS) made $798M of revenue in the first quarter fiscal 2027 (Q1 FY27), +9% from a year earlier. Aerospace and Defense brought in $535M (67%); Industrial and Consumer brought in $103M (13%); Medical brought in $65.5M (8%). Of every dollar of revenue, 32¢ was left as gross profit, 25¢ was left as operating profit, 20¢ was left as net earnings.

What is Carpenter Technology's biggest business?

Aerospace and Defense: $535M in the first quarter fiscal 2027, 67% of revenue, +14% from a year earlier.

What is Carpenter Technology's profit margin?

Net earnings were $162M, 20.4% of revenue, in the first quarter fiscal 2027; the operating margin was 24.6%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.