Crane Stock Price, News & Analysis

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.

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.

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.

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.

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.