Carpenter Technology's Prospects in Aerospace Market for 2024
Carpenter Technology's Growth Prospects
An upbeat assessment from a leading industry player encouraged investors to be bullish on this supplier's prospects. Shares in premium specialty alloy company Carpenter Technology (NYSE: CRS) rose 10.5% in March, according to data provided by S&P Global Market Intelligence. The move came in an upbeat month for aerospace-focused stocks, driven by GE Aerospace's (NYSE: GE) upbeat presentation on March 7.
Carpenter Technology's Margin Expansion
An upbeat industry assessment is particularly good news for Carpenter because its relatively high fixed costs mean its profit margin is highly leveraged. In plain English, its profit margin goes up significantly with an increase in revenue.
- Management believes its operating income will grow from $133 million in 2023 to a range of $310 million to $330 million in 2024, and then $460 million to $500 million in 2027.
Should you invest $1,000 in Carpenter Technology right now?
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.