NYSE$CXT
Crane NXT Co · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Crane NXT reported first quarter 2024 financial results, including a decrease in net sales and operating profit, but completed the acquisition of OpSec Security and increased its full-year sales guidance.
Crane NXT reported first quarter 2024 net sales of $313.6 million, a decrease of 4.7% year-over-year, with GAAP EPS of $0.66 and Adjusted EPS of $0.85. The company completed the acquisition of OpSec Security and increased its full-year 2024 sales guidance to 5% to 8%. Operating profit was $55.4 million, down from $65.9 million in the prior year.
- Crane NXT completed the acquisition of OpSec Security on May 3, 2024, for $270 million in cash, strengthening its brand protection and authentication solutions portfolio.
- First quarter core sales declined 4.2% year-over-year, resulting in GAAP EPS of $0.66 and Adjusted EPS of $0.85, which was in line with the company's expectations.
- The company increased its full-year 2024 sales guidance to 5% to 8% due to the OpSec acquisition, while reaffirming its Adjusted EPS guidance for the full year.
- Operating profit for Q1 2024 was $55.4 million, a decrease from $65.9 million in Q1 2023, primarily due to lower sales at Crane Payment Innovations and acquisition-related expenses, partially offset by favorable pricing and productivity.
Headline financials
Revenue & EPS history
Crane NXT · Revenue · Quarterly
$314M
Forward guidance
Crane NXT updated its full-year 2024 guidance to include the acquisition of OpSec Security, increasing sales growth expectations while maintaining Adjusted EPS guidance.
Tailwinds
- Crane NXT Sales Growth guidance increased to 5% to 8% (from -1% to +3%) due to the OpSec acquisition.
- Adjusted EPS guidance remains consistent at $4.10 to $4.35.
- Corporate Expense guidance remains consistent at approximately $53 million.
- Adjusted Tax Rate guidance remains consistent at approximately 21%.
- Adjusted Free Cash Flow Conversion guidance remains consistent at approximately 100%.
Headwinds
- Adjusted Segment Operating Margin guidance decreased to 26% to 28% (from 27% to 29%).
- Non-Operating Expense, Net guidance increased to approximately $47 million (from approximately $37 million).
- No specific negative changes were highlighted for Diluted Shares, which remain at approximately 57.6 million.
- The core sales growth guidance for CPI and Crane Currency segments remains unchanged, indicating no improvement in underlying organic growth expectations.
- The decrease in Adjusted Segment Operating Margin suggests potential margin pressure despite the acquisition.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
-0.7%
Avg return
5 days after
-1.3%
Avg return
30 days after
46%
11 / 24 earnings
Positive
+7.0%
Q1 2025
Best reaction
-4.5%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.9% | -6.6% | -20.8% | |
| Q4 2025 | +3.4% | +2.9% | -18.3% | |
| Q3 2025 | -4.4% | -4.5% | -9.5% | |
| Q1 2025 | +7.0% | +16.0% | +13.5% | |
| Q3 2024 | +0.6% | +0.2% | -0.3% | |
| Q2 2024 | +0.0% | -7.4% | +0.7% | |
| Q1 2024 | +0.0% | -6.8% | -1.8% | |
| Q4 2023 | +0.0% | -4.6% | +4.5% | |
| Q3 2023 | -0.7% | -5.8% | -6.8% | |
| Q3 2022 | +0.0% | -3.2% | -8.4% | |
| Q2 2023 | +1.4% | +6.4% | +2.2% | |
| Q1 2023 | +0.3% | +1.2% | +12.5% | |
| Q2 2022 | +0.8% | +1.8% | -5.2% | |
| Q1 2022 | +2.6% | -4.3% | -3.3% | |
| Q3 2021 | -1.1% | +0.3% | -6.6% | |
| Q2 2021 | -1.2% | -1.2% | -0.9% | |
| Q1 2021 | -0.8% | +1.1% | -3.5% | |
| Q3 2020 | -4.5% | +0.0% | +35.2% | |
| Q2 2020 | +0.4% | +0.9% | +2.1% | |
| Q1 2020 | +4.7% | -7.7% | +2.2% | |
| Q3 2019 | -0.5% | +4.3% | +7.2% | |
| Q2 2019 | +0.7% | -4.1% | -10.7% | |
| Q1 2019 | -3.0% | +1.2% | -10.9% | |
| Q3 2018 | +1.4% | +3.7% | -3.7% |
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