30
Jul
15:03
Carpenter gears strategy toward stockpiling liquidity
US specialty steel producer Carpenter Technology saw a dip in fiscal fourth quarter earnings due to an aggressive inventory strategy to preserve liquidity in the face of Covid-19, Kallanish reports.
Carpenter reported a loss of $118.4 million during the quarter ended 30 June on sales of $437.3m, down from a profit of $48.9m on sales of $641.4m in Q4 2019. For the fiscal year, Carpenter reported a profit of $1.5m on sales of $2.18 billion, down from 2019&rsqu…
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Anonymous
Very good overview of the weekly steel market.
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