28
Jan
14:12
Carpenter focuses on cash, posts loss in second quarter
US specialty steel producer Carpenter Technology Corporation finished its fiscal second quarter with a net loss, Kallanish reports.
Carpenter lost $84.9 million on sales of $348.8m in the quarter ended 31 December, down from a profit of $38.8m on sales of $573m in fiscal Q2 2020.
Carpenter ceo Tony Thene says a cash flow generation strategy guided fiscal Q2, ultimately leaving the company with $665m in liquidity and $271m in cash.
“We also move…
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