The Philadelphia Inquirer6-16

Carpenter Technology shares jump 125% in 2024 as Space supply-chain bets grow

Carpenter Technology shares are up 125% in 2024, far outpacing the S&P Aerospace & Defense Select Industry Index’s 44% gain. The company supplies specialty metals such as high-temperature alloys used by Boeing, Airbus and SpaceX, and its 2024 Q1 results showed sales and profit ahead of expectations. It has shifted capital spending toward new furnace equipment while maintaining dividends. With a market value of about $30 billion, investors are pricing in strong structural growth expectations tied to aerospace and defense supply chains.

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