Continuing our Commitment
Fiscal year 2023 was a turning point for Carpenter Technology in our recovery from the economic impact of the pandemic. In May of 2023, we held an investor day that detailed our plans to double our pre-pandemic operating income by fiscal year 2027. And in the fourth quarter of fiscal year 2023, we returned to our 2019 profitability on a run-rate basis, an important milestone on our journey. We are in a unique position to realize our goal, with strong demand for our portfolio of solutions and the unique assets and capabilities to provide them.
Even as we ramped up production over the last year, we continued to advance our sustainability efforts. We saw our CO₂ emissions intensity decrease by more than 20%. We set goals for energy and water use reduction, further eliminating waste and improving the efficiency of our operations. We completed ISO14001 certification for four major production facilities, representing over 90% of our business. We continue to set new goals that align with our culture of continuous improvement.
Tony R. Thene
President & Chief Executive Officer