WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                        Date of Report - January 21, 2005
                        (Date of Earliest Event Reported)

                        Carpenter Technology Corporation
             (Exact Name of Registrant as specified in its charter)

        Delaware                        1-5828                    23-0458500
      -------------                 ----------                    ----------
(State of Incorporation)        (Commission File No.)           (IRS Employer
                                                                  I.D. No.)

                   P.O. Box 14662, Reading Pennsylvania, 19612
                    (Address of principal executive offices)

        Registrant's telephone number, including area code (610)208-2000

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the

[ ] Written communications pursuant to Rule 425 under the Securities Act 
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act 
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the 
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the 
    Exchange Act (17 CFR 240.13e-4(c)

Item 2.02 Results of Operations and Financial Condition

On January 21, 2005, Carpenter Technology Corporation issued a press release
discussing second quarter fiscal 2005 results for the quarter ended December 31,
2004. The press release, attached as Exhibit 99 hereto and incorporated herein
by reference, is being furnished pursuant to Item 2.02 and shall not be deemed
to be "filed" for any purpose.

Item 9.01  Financial Statements and Exhibits.

     (a) and (b)  None.

     (c) Exhibit:

     Exhibit 99.  Press Release dated January 21, 2005


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date:  January 21, 2005                 CARPENTER TECHNOLOGY CORPORATION

                                        By:/s/ David A. Christiansen
                                           David A. Christiansen
                                           Vice President, General
                                           Counsel and Secretary

                                  EXHIBIT INDEX

Exhibit         Description

99.1            Press release dated January 21, 2005