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Jun 30, 2024
Crane NXT Q2 2024 Earnings Report
Crane NXT reported solid second quarter 2024 results with sales growth and narrowed its full-year Adjusted EPS guidance.
Key Takeaways
Crane NXT, Co. announced its second quarter 2024 financial results, reporting sales of $371 million, a 5.2% increase year-over-year, driven by the acquired OpSec Security business and core sales growth. The company achieved GAAP EPS of $0.72 and Adjusted EPS of $1.06, and narrowed its full-year Adjusted EPS guidance to $4.20 to $4.35.
Second quarter sales increased by 5.2% year-over-year to $371 million.
Adjusted EPS for the second quarter was $1.06.
The company narrowed its full-year Adjusted EPS guidance to a range of $4.20 to $4.35.
Record-high backlog levels were achieved in Crane Currency, and CPI core sales returned to growth.
Crane NXT
Crane NXT
Crane NXT Revenue by Segment
Revenue by Segment
Crane Payment Innovations Revenue
CapyFin.comSecurity and Authentication Technologies Revenue
CapyFin.com Forward Guidance
Crane NXT narrowed its full-year Adjusted EPS guidance to a range of $4.20 to $4.35, reflecting confidence in continued operational excellence and profitable growth.
Positive Outlook
- Confidence in achieving full-year Adjusted EPS guidance.
- Focus on operational excellence to drive profitable growth.
- Commitment to long-term strategy.
- Plans to deploy capital to support organic growth initiatives.
- Pursuing opportunities to expand and diversify portfolio through disciplined, strategic M&A.
Challenges Ahead
- Changes in global economic conditions (including inflationary pressures) and geopolitical risks.
- Fluctuations in demand for products and ability to source components.
- Information systems and technology network failures or data security breaches.
- Risks associated with conducting business outside the U.S.
- Challenges in successfully developing and introducing new products or integrating acquisitions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income