Carpenter Technology Corp (NYSE:CRS) Q4 2022 Earnings Conference Call July 28, 2022 10:00 AM ET

Company Participants

Brad Edwards - IR

Tony Thene - President, CEO & Director

Timothy Lain - SVP & CFO

Conference Call Participants

Joshua Sullivan - The Benchmark Company

Michael Leshock - KeyBanc Capital Markets

Gautam Khanna - Cowen

Michael Glick - JPMorgan

Operator

Good day, and welcome to the Carpenter Technology Corporation Fourth Quarter Fiscal 2022 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to the management. Please go ahead.

Brad Edwards

Thank you, operator. Good morning, everyone, and welcome to the Carpenter Technology earnings conference call for the fiscal 2022 fourth quarter and year ended June 30, 2022. This call is also being broadcast over the Internet along with presentation slides. Please note, for those of you listening by phone, you may experience a time delay in slide movement. Speakers on the call today are Tony Thene, President and Chief Executive Officer; and Tim Lain, Senior Vice President and Chief Financial Officer.

Statements made by management during this earnings presentation that are forward-looking statements are based on current expectations. Risk factors that could cause actual results to differ materially from these forward-looking statements can be found in Carpenter Technology's most recent SEC filings, including the company's report on Form 10-K for the year ended June 30, 2021, Form 10-Q for the quarters ended September 30, 2021, December 31, 2021 and March 31, 2022 and the exhibits attached to those filings.

Please also note that in the following discussion, unless otherwise noted, when management discuss sales or revenue, that reference excludes surcharge. When referring to operating margins, that is based on adjusted operating income excluding special items, and sales excluding surcharge.

I will now turn the call over to Tony.

Tony Thene

Thank you, Brad, and good morning to everyone on the call today. Let's begin on Slide 4 and a review of our safety performance. For our fiscal year 2022, our total case incident rate was 1.0. It is above our fiscal year 2021 performance of 0.6, which was our best fiscal year safety performance on record. A rate of 1.0 is approximately 65% lower than an all-industry rate. However, our ultimate goal is to be a zero injury workplace. We believe it is possible, and we will continue to work towards that goal.