12:13 PM EST, 01/30/2025 (MT Newswires) -- (Updates with the stock move in the headline and first paragraph.)

Carpenter Technology's ( CRS ) shares fell 11% in recent Thursday trading after the company posted lower-than-expected fiscal Q2 revenue.

Net sales in the three months ended Dec. 31 rose to $676.9 million from $624.2 million a year earlier. Analysts surveyed by FactSet expected $721 million.

The specialty metals company reported adjusted earnings of $1.66 per diluted share, up from $0.85 a year earlier. Analysts polled by FactSet expected $1.61.

The company increased fiscal 2025 operating income guidance to the range of $500 million to $520 million from the high end of $460 million to $500 million.

Analysts polled by FactSet expect $503.3 million.

Carpenter expects fiscal Q3 operating income of $126 million to $134 million. Analysts surveyed by FactSet expect $127.9 million.

Price: 185.34, Change: -23.77, Percent Change: -11.37