STOCK TITAN

Crane NXT, Co. - CXT STOCK NEWS

Welcome to our dedicated page for Crane NXT, Co. news (Ticker: CXT), a resource for investors and traders seeking the latest updates and insights on Crane NXT, Co. stock.

Crane NXT, Co. (NYSE: CXT) is a leading industrial technology company specializing in providing secure technology solutions. The company is a pioneer in advanced micro-optics technology used to secure physical products. Its sophisticated electronic equipment and software leverage proprietary detection and sensing technologies to meet the diverse needs of their global client base.

Headquartered in Waltham, Massachusetts, Crane NXT operates with a workforce of approximately 4,000 employees across the US, UK, Mexico, Japan, Switzerland, Germany, Sweden, and Malta. The company’s recent acquisition of OpSec Security has bolstered its portfolio, enhancing their digital and physical authentication and brand protection solutions.

Crane NXT’s core businesses include Crane Payment Innovations (CPI) and Crane Currency. Despite a slight decline in first-quarter 2024 sales, the company achieved $313.6 million in revenue. Although operating profit decreased compared to the previous year, the company continues to focus on adjusting sales strategies, improving operational efficiency, and exploring strategic mergers and acquisitions to drive future growth.

As part of its commitment to shareholders, Crane NXT declared a quarterly dividend of $0.16 per share for the second quarter of 2024. The CEO, Aaron W. Saak, emphasized the company’s goal to grow sales to $3 billion by 2028, reaffirming the company's long-term growth strategy.

For more detailed information about Crane NXT’s financial performance, recent developments, and future initiatives, visit their official website at www.cranenxt.com.

Rhea-AI Summary

Crane NXT (NYSE: CXT) has acquired the Smart Packaging assets of TruTag Technologies, enhancing its product security and authentication capabilities. The technology enables secure digitization of physical products through proprietary marking and smartphone authentication, allowing for direct-to-product marking in consumer and industrial applications. The acquired technology will be integrated into Crane NXT's OpSec business, enabling brand owners to verify product integrity through smartphone-based authentication using machine learning. The transaction terms were not disclosed and will not materially impact Crane NXT in 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.13%
Tags
-
Rhea-AI Summary

Crane NXT (NYSE: CXT) has announced a definitive agreement to acquire De La Rue Authentication Solutions for 300 million British pounds in cash. This acquisition complements Crane NXT's existing authentication and online brand protection solutions, expanding its portfolio to include security technologies for identification documents and credentials. De La Rue Authentication Solutions is a global leader in digital and physical security and authentication technologies, serving governments and brands in nearly 80 countries.

Key points:

  • De La Rue Authentication generated approximately $130 million in revenue in FY 2024
  • Adjusted EBITDA margin of approximately 20%
  • The acquisition is expected to close in the first half of 2025
  • Crane NXT expects the acquisition to be accretive to Adjusted EPS in the first full year
  • Double-digit ROIC anticipated by year five
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.42%
Tags
-
Rhea-AI Summary

Crane NXT, Co. (NYSE: CXT), a leading industrial technology company, has announced its schedule for the third quarter 2024 financial results. The earnings release is set for November 6, 2024, after market close, and will be available on the company's website. An earnings call is scheduled for November 7, 2024, at 10:00 AM (Eastern Time), hosted by Aaron W. Saak, President & CEO, and Christina Cristiano, Senior Vice President & CFO.

Interested parties can access a live webcast of the conference call through the Events section of Crane NXT's investor relations website. For those wishing to participate in the Q&A session, pre-registration is required. An accompanying slide presentation and replay of the event will also be available on the company's website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.87%
Tags
Rhea-AI Summary

Crane NXT (NYSE: CXT) reported Q2 2024 results with sales of $371 million, up 5.2% year-over-year. The company delivered GAAP EPS of $0.72 and Adjusted EPS of $1.06. Core sales grew 0.8%, in line with expectations. The OpSec Security integration is progressing well, contributing 5.8% to sales growth. Crane NXT narrowed its full-year Adjusted EPS guidance to $4.20-$4.35. The Crane Currency segment reached record-high backlog levels, while CPI returned to core sales growth. Operating profit margin was 18.2%, with Adjusted operating profit margin at 24.1%. The company remains focused on operational excellence and pursuing strategic M&A opportunities to drive profitable growth and create shareholder value.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.07%
Tags
-
Rhea-AI Summary

Crane NXT, a leading industrial technology company, has announced the schedule for its second quarter 2024 earnings release and earnings call. The earnings report will be released on August 7, 2024, after market close and will be available on the company's website. The earnings call is scheduled for August 8, 2024, at 10:00 AM Eastern Time. The call will be hosted by President & CEO Aaron W. Saak and Senior Vice President & CFO Christina Cristiano. A live webcast of the call and a replay will be accessible through the company's website. Interested parties wishing to participate in the Q&A session need to pre-register on the website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.12%
Tags
-
Rhea-AI Summary

Crane NXT (NYSE: CXT) has appointed Michael Mahan as the new President of Crane Payment Innovations (CPI), effective July 8, 2024. Mahan will drive CPI's growth strategy, innovation, and operational excellence. He brings extensive experience from leadership roles at Schneider Electric and GE, where he managed significant business units and drove sales growth. Mahan holds a B.S. in Mechanical Engineering from Worcester Polytechnic Institute and an MBA from the University of Connecticut. Concurrently, Kurt Gallo, the Senior VP and interim President of CPI, will retire in February 2025, assisting with the leadership transition.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.29%
Tags
management
Rhea-AI Summary

Crane NXT, Co. reported its first-quarter financial results, including a core sales decline of 4.2% but exceeded expectations with GAAP EPS of $0.66 and Adjusted EPS of $0.85. The company acquired OpSec Security for $270 million, increasing its full-year 2024 sales guidance to 5% to 8%. The CEO emphasized progress in strategy execution, commitment to sales growth, and shareholder value creation.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.19%
Tags
-
Rhea-AI Summary

Crane NXT has completed the acquisition of OpSec Security, forming a new Security and Authentication Technologies segment. This acquisition will enhance the company's capabilities in brand protection and authentication solutions. Sam Keayes has been appointed Senior Vice President of Security and Authentication Technologies, overseeing the newly formed segment.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.03%
Tags
-
Rhea-AI Summary
Crane NXT, Co. announces the dates for its first quarter 2024 earnings release and earnings call. The earnings release is scheduled for May 8, 2024, after the close of the market, with the earnings call on May 9, 2024, at 10:00 AM (Eastern Time). The call will be hosted by Aaron W. Saak, President & CEO, and Christina Cristiano, Senior Vice President & CFO. Interested parties can listen to a live webcast and participate in the Q&A session by pre-registering on the company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.1%
Tags
Rhea-AI Summary
Crane NXT appoints Sandra Joyce, a cybersecurity expert, to its Board of Directors, as Max H. Mitchell steps down. Ms. Joyce brings extensive experience in cybersecurity and national security from Google Cloud and Mandiant Intelligence.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.85%
Tags
management

FAQ

What is the current stock price of Crane NXT, Co. (CXT)?

The current stock price of Crane NXT, Co. (CXT) is $54.739 as of November 1, 2024.

What is the market cap of Crane NXT, Co. (CXT)?

The market cap of Crane NXT, Co. (CXT) is approximately 3.1B.

What does Crane NXT, Co. specialize in?

Crane NXT, Co. specializes in providing advanced technology solutions to secure, detect, and authenticate products and assets. Their core capabilities include sophisticated detection and sensing technologies.

Where is Crane NXT, Co. headquartered?

Crane NXT, Co. is headquartered in Waltham, Massachusetts, USA.

How many employees does Crane NXT, Co. have?

Crane NXT, Co. has approximately 4,000 employees worldwide.

What was Crane NXT, Co.'s revenue for the first quarter of 2024?

Crane NXT, Co. reported a revenue of $313.6 million for the first quarter of 2024.

What recent acquisition did Crane NXT, Co. make?

Crane NXT, Co. recently acquired OpSec Security to enhance its digital and physical authentication and brand protection solutions portfolio.

What is Crane NXT, Co.'s goal for sales by 2028?

Crane NXT, Co. aims to grow its sales to $3 billion by 2028.

What are Crane NXT, Co.'s main business segments?

Crane NXT, Co.'s main business segments are Crane Payment Innovations (CPI) and Crane Currency.

What was the operating profit for the first quarter of 2024?

The operating profit for the first quarter of 2024 was $55.4 million.

Does Crane NXT, Co. pay dividends?

Yes, Crane NXT, Co. declared a quarterly dividend of $0.16 per share for the second quarter of 2024.

Where can I find more information about Crane NXT, Co.?

More information about Crane NXT, Co. can be found on their official website at www.cranenxt.com.

Crane NXT, Co.

NYSE:CXT

CXT Rankings

CXT Stock Data

3.09B
57.14M
14.74%
87.32%
6.18%
Specialty Industrial Machinery
Miscellaneous Fabricated Metal Products
Link
United States of America
WALTHAM