Net sales were US$566.3 million, compared to US$581.4 million in 2013.

“In Carpenter’s third quarter, we made some significant progress toward our short and long term objectives,” said William A. Wulfsohn, president and CEO. “At the same time, as we previously announced, earnings were significantly impacted by approximatelyUS $8 million of additional weather-related expenses. This was primarily due to a spike in electricity rates in the quarter.

“These weather-related expenses mask some strong operating performance. Specialty Alloys Operations (SAO) sales volume grew by 12% sequentially. In addition, our Performance Engineered Products (PEP) segment realized significant operating income growth. [...]
“Looking forward, we expect sales volume to grow, but gradually. Demand has increased in each of our end markets. Our SAO sales backlog grew 19% during the quarter and is now more than the prior year."