Carpenter Technology Co.

The board of Carpenter Technologie has approved a new buyback program for up to $1.0 billion of outstanding common stock. The company recently completed its previous $400 million program. Carpenter plans to fund repurchases from operating cash flow and available liquidity; the size and timing will depend on market conditions and legal requirements. CEO Tony R. Thene expects growth in fiscal 2027 and the start of a capacity expansion in fiscal 2028. » More on de.investing.com

Carpenter Technology has appointed Ken Giacobbe to its board of directors effective August 11, 2026. Giacobbe brings more than 30 years of finance and corporate leadership experience, most recently as executive vice president and CFO of Howmet Aerospace and previously in senior finance roles at Arconic and Alcoa. The company also announced that Howard Yu and Colleen Pritchett will depart at the 2026 annual meeting; the board will consist of ten members after the meeting. The decisions were not due to disagreements with the company or management. » More on de.investing.com

Stephen Mandel's Lone Pine Capital increased its stake in Carpenter Technology, highlighting the specialty-alloys maker as a play on an aerospace and defense upcycle. Q3 revenue rose 11.6% to $811.5 million, SAO operating margin expanded to 35.6% (17th straight quarter of margin gains) and management raised full-year operating income guidance to $700–705 million. The stock has climbed strongly this year, but further upside depends on continued guide raises and cyclical strength in aerospace demand. » More on finance.yahoo.com