Welcome to our dedicated page for Crane news (Ticker: CXT), a resource for investors and traders seeking the latest updates and insights on Crane stock.
Crane Company (CXT) delivers essential security and authentication solutions through its industrial technology expertise. This news hub provides investors and industry professionals with centralized access to official announcements and market developments.
Track critical updates including quarterly earnings reports, product innovation launches, strategic partnerships, and regulatory filings. Our curated collection ensures timely access to information impacting Crane's position in secure payment systems and advanced detection technologies.
Key content categories include financial performance disclosures, technology patent updates, supply chain initiatives, and leadership changes. All materials are sourced from verified corporate communications to maintain accuracy and compliance.
Bookmark this page for efficient monitoring of Crane's developments in micro-optics authentication and payment security solutions. Regular updates provide insights into how the company addresses evolving challenges in physical/digital asset protection across global markets.
Crane NXT (NYSE: CXT) has acquired the Smart Packaging assets of TruTag Technologies, enhancing its product security and authentication capabilities. The technology enables secure digitization of physical products through proprietary marking and smartphone authentication, allowing for direct-to-product marking in consumer and industrial applications. The acquired technology will be integrated into Crane NXT's OpSec business, enabling brand owners to verify product integrity through smartphone-based authentication using machine learning. The transaction terms were not disclosed and will not materially impact Crane NXT in 2024.
Crane NXT (NYSE: CXT) has announced a definitive agreement to acquire De La Rue Authentication Solutions for 300 million British pounds in cash. This acquisition complements Crane NXT's existing authentication and online brand protection solutions, expanding its portfolio to include security technologies for identification documents and credentials. De La Rue Authentication Solutions is a global leader in digital and physical security and authentication technologies, serving governments and brands in nearly 80 countries.
Key points:
- De La Rue Authentication generated approximately $130 million in revenue in FY 2024
- Adjusted EBITDA margin of approximately 20%
- The acquisition is expected to close in the first half of 2025
- Crane NXT expects the acquisition to be accretive to Adjusted EPS in the first full year
- Double-digit ROIC anticipated by year five
Crane NXT, Co. (NYSE: CXT), a leading industrial technology company, has announced its schedule for the third quarter 2024 financial results. The earnings release is set for November 6, 2024, after market close, and will be available on the company's website. An earnings call is scheduled for November 7, 2024, at 10:00 AM (Eastern Time), hosted by Aaron W. Saak, President & CEO, and Christina Cristiano, Senior Vice President & CFO.
Interested parties can access a live webcast of the conference call through the Events section of Crane NXT's investor relations website. For those wishing to participate in the Q&A session, pre-registration is required. An accompanying slide presentation and replay of the event will also be available on the company's website.
Crane NXT (NYSE: CXT) reported Q2 2024 results with sales of $371 million, up 5.2% year-over-year. The company delivered GAAP EPS of $0.72 and Adjusted EPS of $1.06. Core sales grew 0.8%, in line with expectations. The OpSec Security integration is progressing well, contributing 5.8% to sales growth. Crane NXT narrowed its full-year Adjusted EPS guidance to $4.20-$4.35. The Crane Currency segment reached record-high backlog levels, while CPI returned to core sales growth. Operating profit margin was 18.2%, with Adjusted operating profit margin at 24.1%. The company remains focused on operational excellence and pursuing strategic M&A opportunities to drive profitable growth and create shareholder value.
Crane NXT, a leading industrial technology company, has announced the schedule for its second quarter 2024 earnings release and earnings call. The earnings report will be released on August 7, 2024, after market close and will be available on the company's website. The earnings call is scheduled for August 8, 2024, at 10:00 AM Eastern Time. The call will be hosted by President & CEO Aaron W. Saak and Senior Vice President & CFO Christina Cristiano. A live webcast of the call and a replay will be accessible through the company's website. Interested parties wishing to participate in the Q&A session need to pre-register on the website.
Crane NXT (NYSE: CXT) has appointed Michael Mahan as the new President of Crane Payment Innovations (CPI), effective July 8, 2024. Mahan will drive CPI's growth strategy, innovation, and operational excellence. He brings extensive experience from leadership roles at Schneider Electric and GE, where he managed significant business units and drove sales growth. Mahan holds a B.S. in Mechanical Engineering from Worcester Polytechnic Institute and an MBA from the University of Connecticut. Concurrently, Kurt Gallo, the Senior VP and interim President of CPI, will retire in February 2025, assisting with the leadership transition.
Crane NXT, Co. reported its first-quarter financial results, including a core sales decline of 4.2% but exceeded expectations with GAAP EPS of $0.66 and Adjusted EPS of $0.85. The company acquired OpSec Security for $270 million, increasing its full-year 2024 sales guidance to 5% to 8%. The CEO emphasized progress in strategy execution, commitment to sales growth, and shareholder value creation.
Crane NXT has completed the acquisition of OpSec Security, forming a new Security and Authentication Technologies segment. This acquisition will enhance the company's capabilities in brand protection and authentication solutions. Sam Keayes has been appointed Senior Vice President of Security and Authentication Technologies, overseeing the newly formed segment.
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