Carpenter Technology: Navigating Well Through A Turbulent Initial Aerospace Recovery Cycle

These early quarters of the commercial aerospace upswing have had their challenges, with OEMs forced to revise their production schedules in response to unpredictable component availability from their suppliers. This does set the stage for elevated performance risk in the short term, as quarter-to-quarter production may deviate from expectations, but I remain bullish on a multiyear trend of growing narrowbody and widebody aircraft construction.

Carpenter Technology (NYSE:CRS) shares have risen close to 15% since my last update on the company, making them an outperformer in a space where rivals like ATI (ATI), Hexcel (HXL), Howmet (HWM), and Universal Stainless & Alloy (USAP) have seen a little more turbulence in results and sentiment. I continue to believe that Carpenter is well-placed to leverage that growing aerospace demand into improved financials and valuation, and I believe the shares are still worth consideration here.

 

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Carpenter Technology: Navigating Well Through A Turbulent Initial Aerospace Recovery Cycle