CARPENTER TECHNOLOGY $CRS Q1’27 EARNINGS HIGHLIGHTS 🔹 Net Sales: $798.2M (Est. $831M) 🔴; +9% YoY 🔹 Adj. EPS: $3.25 (Est. $3.14) 🟢; +34% YoY 🔹 Adj. Oper Income: $196.4M (Est. $197M) 🔴 Affirms FY27 Guide: 🔹 Adj. Oper Income: $850M-$880M (Est. $894M) 🔴 🔹 Adj. Free Cash Flow: $400M-$430M Q2 FY27 Guide: 🔹 Adj. Oper Income: $192M-$197M (Est. $200M) 🔴 Cash Flow: 🔹 Adj. Free Cash Flow: -$24.8M 🔹 Operating Cash: $52.8M; +35% YoY Segment Operating Income: 🔹 Specialty Alloys Operations: $216.3M; +27% YoY 🔹 Performance Engineered Products: $7.3M Other Q1 Metrics: 🔹 Adj. Oper Income Growth: +28% YoY 🔹 Net Sales ex-Surcharge: $634.8M; +5% YoY 🔹 Adj. Oper Margin ex-Surcharge: 30.9% 🔹 SAO Adj. Margin ex-Surcharge: 37.7% 🔹 Aerospace & Defense: $425.4M Key Updates: 🔹 Repurchased $133.9M of stock in the quarter, with $985.0M remaining under the $1.0B program 🔹 Reaffirmed the fiscal year 2029 operating income target of $1.2B-$1.3B 🔹 Commercial Aerospace bookings increased 49% year-over-year Comments: 🔸 “Notably, in the current quarter we saw a step up in demand, especially in the commercial aerospace supply chain.”