Carpenter Technology Corporation CRS has provided the preliminary outlook for fourth-quarter fiscal 2020 (ended as of Jun 30, 2020) and fiscal 2021.
Segments to Put up Dismal Performance in Q4
Carpenter Technology expects volumes in the Specialty Alloys Operations (SAO) segment to be down 20-30% sequentially in the fiscal fourth quarter on the coronavirus crisis-induced economic disruptions across most of its end-use markets, along with the near-term challenges across the aerospace supply chain. The company now expects the segment’s operating income between $4 million and $8 million for the quarter.
Lower volumes due to the pandemic’s unfavorable impact on customer