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Crane NXT lifts Q3 2023 results, raises full-year guidance

Logo: Crane NXT

November 8, 2023

Crane NXT, which includes the former payment and merchandising technologies business of Crane Holdings Co., lifted its Q3 2023 sales and earnings over the prior year period and upped its full year guidance, according to an earnings report. Highlights include:

• Net sales rose 5.3% from $335.1 million in Q3 2022 to $352.9 million for the quarter ending Sept. 30, 2023,
• EPS per diluted share rose from 79 cents to 90 cents.
• Adjusted EPS was $1.09.
• Crane Payment Innovations sales rose 0.4% from $220.8 million to $221.6 million.
• Crane Currency sales rose 14.9% from $114.3 million to $131.3 million.
• The company announced a quarterly dividend of 14 cents per share payable on Dec. 13, 2022 to shareholders of record Nov. 30, 2023.

Shares traded Tuesday at $49.77 against a 52-week range of $33.04 to $63.36.

"We delivered strong results for our third quarter with 4% growth in core sales, along with operational excellence, resulting in an overall 26% adjusted operating profit margin," Aaron Saak, president and CEO, said in the press release.

The company revised its full year 2023 guidance to an adjusted EPS range of $4 to $4.15 versus the prior range of $3.85 to $4.15.