Crane NXT Reports Third Quarter 2025 Results

WALTHAM, Mass., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a premier industrial technology company, today announced its financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Highlights

Full Year 2025 Outlook

Aaron W. Saak, Crane NXT's President and Chief Executive Officer, stated: "Our third quarter results continue to show progress in the evolution of Crane NXT, with accelerating growth in our SAT segment, strong margins in CPI, and robust free cash flow. Given the sustained momentum in SAT, we are raising our full year sales guidance. Additionally, we are narrowing our Adjusted EPS guidance range primarily driven by ongoing macroeconomic uncertainty impacting demand in CPI."

Mr. Saak continued: “As we look forward, I am excited to add Antares Vision to our portfolio in 2026, further positioning Crane NXT to accelerate growth as a market leader in detection, inspection, and authentication technologies."

Third Quarter 2025 Results

Third quarter 2025 sales were $445.1 million, an increase of $41.6 million, or 10.3%, compared with the third quarter of 2024, primarily driven by $28.3 million, or 7.0%, sales benefit from the acquired De La Rue Authentication Solutions business, $7.6 million, or 1.9%, favorable foreign exchange, and $5.7 million, or 1.4%, increase in core sales, driven by SAT, partially offset by lower volumes in CPI.

Third quarter 2025 operating profit was $81.9 million, compared with $75.0 million in the third quarter of 2024. Operating profit margin was 18.4%, a decrease of 20 basis points compared with 18.6% last year, primarily driven by the impact of lower volumes in CPI and the dilutive impact of the De La Rue Authentication Solutions acquisition, partially offset by higher volumes in SAT and productivity gains in both segments. Adjusted operating profit margin of 24.7% increased 80 basis points, compared with 23.9% in the prior year.

Third Quarter 2025 Segment Results

All comparisons detailed in this section refer to operating results for the third quarter 2025 versus the third quarter 2024.

Sales of $216.3 million decreased $8.6 million, or 3.8%, compared with the third quarter of 2024, primarily driven by lower volumes. Operating profit margin of 28.1% decreased 60 basis points compared with 28.7% last year, primarily reflecting the impact of lower volumes partially offset by productivity gains. Adjusted operating profit margin remained flat at 31.1%.

Sales of $228.8 million increased $50.2 million, or 28.1%, compared with the third quarter of 2024, primarily driven by 15.8% sales benefit from the acquired De La Rue Authentication Solutions business, 8.8% core sales increase primarily due to higher volumes in the Currency business and 3.4% favorable foreign exchange. Operating profit margin was 17.2%, up from 16.4% last year, primarily due to the impact of higher volumes and productivity gains, partially offset by the dilutive impact of the De La Rue Authentication Solutions acquisition. Adjusted operating profit margin was 24.4% compared with 21.9% in the prior year.

Cash Flow and Other Financial Metrics

For the third quarter of 2025, cash provided by operating activities was $92.0 million, compared with $66.7 million in the prior year. Adjusted free cash flow was $85.3 million, compared with $59.0 million in the prior year. The $26.3 million increase in Adjusted free cash flow was primarily due to lower working capital requirements. (Please see the Non-GAAP Financial Measures tables in this release for a detailed reconciliation of reported results to adjusted measures).

The Company held cash and cash equivalents of $182.4 million as of September 30, 2025, compared with $165.8 million as of December 31, 2024. Total debt was $1,081.9 million as of September 30, 2025, compared with $750.6 million as of December 31, 2024. The increase was primarily driven by higher net proceeds from the Term Loan used to fund the acquisition of De La Rue Authentication Solutions.

Full Year 2025 Guidance

The Company is updating its full year guidance provided on August 6, 2025. Growth rates represent growth over full year 2024.

Declaring Fourth Quarter 2025 Dividend

Crane NXT announced its quarterly dividend of $0.17 per share for the fourth quarter of 2025. The dividend is payable on December 10, 2025, to shareholders of record as of November 28, 2025.

Conference Call

Crane NXT scheduled a conference call to discuss the third quarter financial results on Thursday, November 6, 2025, at 10:00 A.M. (Eastern). Interested parties may listen to a live webcast of the conference call by visiting the Events section of the Investor Relations section of the Company’s website. For those wishing to participate in the Q&A session of the call, please visit the Investors section of Crane NXT's website at www.cranenxt.com to pre-register. Pre-registration may be completed at any time up to the call start time. An accompanying slide presentation and a replay of the live event will also be available on the Company’s website.

About Crane NXT, Co.

Crane NXT is a premier industrial technology company that provides trusted technology solutions to secure, detect, and authenticate what matters most to its customers. Through its industry-leading businesses, Crane NXT provides customers with advanced technologies to secure high-value physical products, sophisticated detection equipment and systems, and proprietary products and services that protect brand identity and digital content. Crane NXT’s approximately 5,000 employees help our customers protect their most important assets and ensure secure, seamless transactions around the world every day. For more information, visit www.cranenxt.com.

On April 3, 2023, Crane NXT, Co. (formerly Crane Holdings, Co.) completed the separation of its wholly-owned subsidiary at that time, Crane Company, in a tax-free distribution of Crane Company shares to Crane NXT stockholders (the "Separation").

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief, or expectations.

Words such as “anticipate(s),” “expect(s),” “intend(s),” “believe(s),” “plan(s),” “may,” “will,” “would,” “could,” “should,” “seek(s),” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. The Company assumes no (and disclaims any) obligation to revise or update these statements to reflect future events or circumstances. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, it can give no assurance that its expectations will be attained. The Company cautions investors not to place undue reliance on any such forward-looking statements.

Risks and uncertainties that could cause actual results to differ materially from the Company's expectations include, but are not limited to: the impact of tariffs and other trade measures; changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations; demand for its products, which is variable and subject to factors beyond its control; risks associated with conducting a substantial portion of its business outside the U.S.; information systems and technology networks failures, breaches in data security, theft of personally identifiable and other information, and non-compliance with its contractual or other legal obligations regarding such information; being unable to identify or complete acquisitions, or to successfully integrate the businesses the Company acquires; fluctuation in the prices of, or disruption in its ability to source, components and raw materials, and delays in the distribution of its products; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow its business as planned; being unable to successfully develop and introduce new products, which would limit its ability to grow and maintain its competitive position; governmental regulations and failure to comply with those regulations; the ability to protect its intellectual property; risks from litigation, claims and investigations, including those related to product liability and warranties, and employee, commercial, intellectual property and environmental matters; risks related to its ability to improve productivity, reduce costs and align manufacturing capacity with customer demand; significant competition in the Company's markets; additional tax expenses or exposures; adverse impacts from intangible asset impairment charges; inadequate or ineffective internal controls; and risks related to the Separation, including not obtaining the intended tax treatment of the Separation transaction, failure of Crane Company to perform under the various transaction agreements and actual or potential conflicts of interest with Crane Company.

Readers should carefully review Crane NXT, Co.’s financial statements and the notes thereto, as well as the section entitled “Risk Factors” in Item 1A of Crane NXT, Co.’s Annual Report on Form 10-K for the year ended December 31, 2024 and the other documents Crane NXT, Co. and its subsidiaries file from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

(Financial Tables Follow)

Crane NXT reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). This press release includes certain non-GAAP financial measures, including Adjusted operating profit, Adjusted operating margin, Adjusted EPS, free cash flow, and Adjusted free cash flow, that are not prepared in accordance with GAAP. These non-GAAP measures are an addition, and not a substitute for or superior, to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP. The Company's management believes that these non-GAAP measures of financial results (including on a forward-looking or projected basis) provide useful supplemental information to investors about Crane NXT. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore the Company's non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

Reconciliations of certain forward-looking and projected non-GAAP measures, including Adjusted segment operating margin and Adjusted EPS, to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on Crane NXT's future GAAP results. Crane NXT calculates Adjusted segment operating margin and Adjusted EPS as described below.

"Special items impacting operating profit" are items that are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Special items impacting operating profit includes acquired intangible asset amortization, restructuring charges, impact of acquisition related fair value step-up, and transaction related expenses.

The Company's management believes that each of the following non-GAAP measures provides useful information to investors regarding the Company’s financial conditions and operations:

Impact of acquisition related fair value step-up includes acquisition related inventory step-up amortization and fixed asset step-up depreciation. Transaction related expenses include acquisition related expenses such as incremental professional fees associated with closing and integration of acquisitions, and expenses associated with the Separation in prior periods. Restructuring charges predominantly relates to severance charges associated with the integration of the DLR and OpSec businesses, and the alignment of CPI's cost structure with existing economic conditions.

Contact:

Matt Roache

Vice President, Investor Relations

+1-781-864-4730

matthew.roache@cranenxt.com