Production Process Engineering Leader

Carpenter Technology touts record fiscal 2026 earnings, capacity expansion at annual meeting. Carpenter Technology (NYSE:CRS) said fiscal 2026 marked another record year for earnings, while the company continues to pursue a capacity expansion intended to support demand from aerospace and defense customers. Speaking at the company's virtual annual meeting of stockholders on Oct. 6, Chairman, President and Chief Executive Officer Tony Thene said fiscal 2026 produced the highest earnings in Carpenter Technology's history, surpassing the prior record established a year earlier. He attributed the performance to the company's market position, solutions portfolio and specialized capabilities. Discover more Stock market data Share price analysis Stock market news "We believe Carpenter Technology is still in the early stages of a multi-year growth journey," Thene said, citing aerospace and defense demand, differentiated capabilities and investments aimed at supporting future earnings and cash-flow growth. Safety and capacity investment. Thene said safety remains the company's top priority and reported a total case incident rate of 1.4 for fiscal 2026. He said the company's long-term goal remains a zero-injury workplace. The company's brownfield capacity expansion project remains on schedule and within budget, according to Thene. He said the project is intended to strengthen Carpenter Technology's competitive position and add capacity to address growing customer demand. Thene also said the company's cash generation and balance sheet support what he described as a balanced capital-allocation strategy: investing in high-return growth opportunities while returning cash to shareholders. Looking ahead to fiscal 2027, he said Carpenter Technology enters the year with "confidence, momentum, and a clear vision for the future." Shareholders elect directors, approve proposals. Stockholders elected Steven E. Karol, Charles D. McLane Jr. and Thene to three-year terms on the board, according to preliminary results announced during the meeting. Karol has served as a director since 2012 and is managing partner and founder of Watermill Group. McLane, a director since 2020, is the retired executive vice president and chief financial officer of Alcoa Corp. Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending June 30, 2027. In addition, they approved, on an advisory basis, the compensation of Carpenter Technology's named executive officers. James Dee, the company's senior vice president, general counsel and secretary, said final voting results will be reported in an SEC filing. The company reported that 49.6 million common shares were outstanding and entitled to vote as of the Aug. 7 record date, and that a quorum was present at the meeting. Board changes. Thene recognized Colleen S. Pritchett and Howard H. Yu, whose board tenures concluded immediately before the annual meeting. He thanked both directors for their service. The company also introduced two newer directors: Julie A. Beck, senior vice president, chief financial officer and treasurer of MSA Safety Inc., who joined the board in February 2025; and Kenneth J. Giacobbe, the retired executive vice president and chief financial officer of Howmet Aerospace Inc., who joined in August. After the formal business concluded, Carpenter Technology opened the virtual meeting for stockholder questions and comments. About Carpenter Technology (NYSE:CRS). Carpenter Technology Corporation is a manufacturer of specialty metals and engineered products for applications that require high performance, durability, and resistance to extreme conditions. Founded in 1889, the company produces stainless steels, nickel- and cobalt-based alloys, titanium alloys, and other specialty materials. Its product offerings include specialty wire, rod, bar, strip, billet, and powder, as well as precision-engineered components and additive-manufacturing materials.

Howmet Aerospace announces expansion to Wichita Falls facility. Posted: Sep 15, 2026 / 10:20 AM CDT Updated: Sep 15, 2026 / 10:42 AM CDT WICHITA FALLS (KFDX/KJTL) - A Wichita Falls manufacturing facility will soon get a multi-million-dollar expansion. Howmet Aerospace, a global leader in advanced engineered solutions for the aerospace and transportation industries, has announced new plans to fund an approximately $70 million expansion to its Wichita Falls facility. The expansion will add roughly 100,000 square feet, strengthen the facility's position in the global aerospace supply chain and bring 230 new full-time jobs to the site while retaining the almost 900 current employees. The new positions are expected to pay about $72,000 annually, providing high-quality career opportunities for Wichita Falls residents. "This is exactly the kind of investment we want to see in Wichita Falls - a company with a long history in our community choosing to invest, grow and create opportunity for the next generation of workers," said Moriah Williams, CEO of Forward Wichita Falls. "Howmet Aerospace has been an important part of our manufacturing story for decades, and this expansion is a powerful statement about the confidence they have in our workforce, our infrastructure and our community." The project stands for more than an expansion of physical space; it is also an investment in the role Wichita Falls plays as a nationally significant center for aerospace as well and reinforces the city as a competitive location for aerospace and advanced manufacturing. The Wichita Falls facility has been a key part of the community's aerospace manufacturing legacy spanning decades. Howmet's investment builds on the legacy that will position the facility for continued growth. "Howmet Aerospace is proud of our nearly five-decade-long presence in Wichita Falls," said Rodney Buchanan, Plant Manager. "We remain grateful to community leaders for their partnership and support for our continued growth." "This investment demonstrates the strength of the partnership between industry and the Wichita Falls community," Williams said. "When a company like Howmet makes a $70 million commitment and adds 230 new jobs while retaining the people already here, it tells us something important: Wichita Falls is not just a place where companies can operate - it is a place where companies can grow." The expansion is also expected to bring economic activity, such as construction, increased payroll, supplier activity and additional demand for local goods and services, throughout the Wichita Falls region. Construction and implementation of the expansion are expected to take place soon as Howmet advances the project. You can now stream KFDX and Texoma's FOX live 24/7 on your smart TV with KFDX+, our brand-new app! No antenna, cable, or satellite needed - watch for free, anytime. Just download it on your Roku, Apple TV, or Fire TV and start streaming.

GE Aerospace to spend nearly $12 billion to bring key castings supplier in-house. By Shivansh Tiwary Reuters Updated September 8, 2026 10:18 AM Gift Article Sept 8 (Reuters) - GE Aerospace said on Tuesday it would buy castings supplier Consolidated Precision Products from investment firms Warburg Pincus and Berkshire Partners for $11.75 billion, as the aerospace giant seeks to boost in-house manufacturing capacity. Engine makers are racing to increase output and ease supply-chain risks as strong demand for new aircraft and aftermarket spare parts continues to drive orders. The acquisition, GE Aerospace's largest since it became a standalone company, brings a major supplier of precision castings in-house, giving it greater control over a critical segment of the jet-engine supply chain. "Investing in mission-critical casting capacity is needed to support the strong simultaneous demand across commercial engines, aftermarket and defense," GE Aerospace CEO Larry Culp said. "By combining GE Aerospace's technology capabilities and flight deck with CPP's manufacturing experience, we expect to expand capacity, improve performance and accelerate new engine technologies for the current fleet and next-generation platforms." The deal comes a few days after SpaceX CEO Elon Musk touted the company's ambitions to manufacture turbine blades to cater to its own power needs. The investment castings market is in "war games mode", Jefferies analyst Sheila Kahyaoglu said in a note. GE Aerospace shares were marginally down in morning trading, while smaller rival Howmet Aerospace fell 6%. VERTICAL INTEGRATION Engine makers have repeatedly complained about a shortfall of castings, which has weighed on production. CPP is one of the world's largest producers of investment and precision sand castings - metal components formed by pouring molten alloy into highly precise molds - and supplies parts for nearly every major current-generation commercial and military aircraft program, as well as helicopters, weapon systems and industrial gas turbines. About 70% of CPP's revenue comes from commercial and defense engines, while most of the remainder is generated by missiles and power-generation equipment. GE Aerospace, which will fund the deal with existing cash and new debt, expects demand for airfoils - precision-cast turbine blades and vanes that operate under extreme heat and are central to engine efficiency and durability - to rise more than 30% by 2030. The company said bringing CPP into the fold would more closely link airfoil design and production, shorten development cycles and improve manufacturing readiness as it ramps output. The deal, likely to close in the second half of 2027, is expected to boost GE Aerospace's adjusted profit per share and free cash flow in the first year. GE Aerospace is paying the equivalent of 26 times CPP's expected 2027 core profit, excluding anticipated integration benefits. Including those benefits, the deal values CPP at 18 times its projected 2027 EBITDA, or earnings before interest, taxes, depreciation and amortization. (Reporting by Shivansh Tiwary in Bengaluru; Editing by Shilpi Majumdar) This story was originally published September 8, 2026 at 7:45 AM.