Carpenter Technology ended the fiscal second quarter with cash and cash equivalents of $97 million compared with $287 million at the end of fiscal 2021. The long-term debt was $695 million at the end of second-quarter fiscal 2022, in line with the fiscal 2021 end's figure. Cash utilized in operating activities was $136 million in the six months ended as of Dec 31, 2021, against the cash inflow of $172 million in the prior-year period. Free cash outflow in the reported quarter was $116 million against the cash inflow of $51 million in the year-ago quarter. Carpenter Technology expects to benefit from the increasing demand trends across its end-use markets and strong customer relationships. Repairing is progressing well at its Reading press, which was impacted by a mechanical failure and led to an unplanned outage. The company expects the press to be operational in the fiscal third quarter.