# Carpenter Technology Sets $1.2 Billion-$1.3 Billion Fiscal 2029 Operating Income Target By John Kim Canonical URL: https://www.tokenpost.com/news/business/38942 Published: 2026-10-23T12:01:34.000Z Updated: 2026-10-23T12:01:34.000Z Section: Business > The company kept its fiscal 2027 free cash flow outlook at $400 million to $430 million. First-quarter operating income rose 28% year over year to $196.4 million. Carpenter Technology set a fiscal 2029 operating income target of $1.2 billion to $1.3 billion and kept its fiscal 2027 free cash flow outlook at $400 million to $430 million. President, CEO and Executive Chairman Tony Thene called the first quarter a “solid start to fiscal year 2027” and said operating income reached a first-quarter record, up 28% from a year earlier. Operating income was $196.4 million for the quarter ended Sept. 30, compared with $153.3 million a year earlier. Net sales rose 9% to $798.2 million. Carpenter still expects fiscal 2027 operating income of $850 million to $880 million. More details are in [Carpenter Technology’s first-quarter results](). ## Links in this article - [Carpenter Technology’s first-quarter results](https://www.tokenpost.com/news/business/38458)