Loading...
•
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...