Increasing the sintering temperature, lowering the oxygen content, improved the longitudinal and transverse impact properties of powder formed AISI 4027. Flow improved the longitudinal impact properties to a maximum of 53 ft-lbs. but had no effect on the transverse properties. The anisotropy of powder formed preforms was a function of oxygen content and deformation strain. Comparing the powder-formed AISI 4027 to wrought AISI 8620, the powder formed preforms were more isotropic.