Carpenter Technology Corporation (CRS)

Gross profit margin

		Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Gross profit (ttm)	US$ in thousands	584,300	512,800	459,300	406,700	337,400	290,300	236,300	179,400	149,800	56,500	29,800	22,700	1,000	17,000	113,700	220,300	329,400	457,600	471,300	465,700
Revenue (ttm)	US$ in thousands	2,756,000	3,797,300	3,802,500	3,757,400	3,628,400	2,335,500	2,122,700	1,929,400	1,783,800	1,653,000	1,518,600	1,473,100	1,423,200	1,447,900	1,686,200	1,913,600	2,166,400	2,370,500	2,391,900	2,373,400
Gross profit margin		21.20%	13.50%	12.08%	10.82%	9.30%	12.43%	11.13%	9.30%	8.40%	3.42%	1.96%	1.54%	0.07%	1.17%	6.74%	11.51%	15.20%	19.30%	19.70%	19.62%

June 30, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $584,300K ÷ $2,756,000K
= 21.20%

Carpenter Technology Corporation's gross profit margin has fluctuated over the past few quarters. In the most recent quarter, ending June 30, 2024, the gross profit margin stands at 21.20%, representing an improvement compared to the previous quarter. This indicates that the company was able to generate more profit from its sales after accounting for the cost of goods sold.

Looking further back, the trend in gross profit margin shows a general improvement from the low points in the first quarter of 2021 and an increase from the trough observed in the first quarter of 2022. This suggests that Carpenter Technology Corporation has been able to effectively manage its production costs and pricing strategies to enhance profitability.

However, it's worth noting that there have been periods of volatility in the gross profit margin, with fluctuations observed in the quarters between December 2022 and March 2023. This could be attributed to various factors such as changes in input costs, pricing pressures, or shifts in demand for the company's products.

Overall, while the recent increase in gross profit margin is a positive sign, investors and analysts may want to monitor future quarters to assess the sustainability of this trend and evaluate the company's ability to maintain or further improve its profitability.