12:05 PM EDT, 07/25/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Carpenter Technology ( CRS ) shares were up over 14% in recent Thursday trading after the company posted fiscal Q4 earnings and revenue ahead of consensus.

The company reported fiscal Q4 adjusted earnings of $1.82 per diluted share, up from $0.78 a year earlier.

Analysts polled by Capital IQ expected $1.51.

Net sales for the quarter ended June 30 were $798.7 million, up from $758.1 million a year earlier.

Four analysts surveyed by Capital IQ expected $763.8 million.

Additionally, Carpenter said its board authorized a stock repurchase plan of up to $400 million of its outstanding common shares.

Price: 138.63, Change: +17.13, Percent Change: +14.10