Key Highlights

  • Net sales were USD 497.1 million against a USD 495.00 million estimate and USD 445.1 million a year earlier.
  • EPS was USD 1.28 against an estimate of USD 1.21, while GAAP diluted EPS was USD 0.66 against USD 0.87.
  • Antares Vision contributed USD 50.0 million of sales, and Organic Sales growth was USD 4.9 million, or 1.1%.
  • Operating profit was USD 65.7 million, a 13.2% margin, against USD 81.9 million and 18.4% a year earlier.

Crane NXT (NYSE:CXT) reported third quarter net sales of USD 497.1 million, against USD 445.1 million in the same quarter of 2025 and an estimate of USD 495.00 million. EPS was USD 1.28 against an estimate of USD 1.21. GAAP diluted EPS was USD 0.66, against USD 0.87 a year earlier, and Net Income attributable to common shareholders was USD 38.4 million, against USD 50.5 million.

Sales, Costs and Operating Profit

Net sales rose 11.7%, and the company broke the change into three parts: a USD 50.0 million, or 11.2%, benefit from the Antares Vision acquisition, organic growth of USD 4.9 million, or 1.1%, driven by the Currency business, and a currency translation effect of negative USD 2.9 million, or 0.6%. Cost of sales was USD 299.2 million, or 60.2% of sales, against USD 252.5 million, or 56.7%. Selling, general and administrative expense was USD 126.1 million, against USD 107.2 million, and restructuring charges were USD 6.1 million, against USD 3.5 million.

Operating profit was USD 65.7 million against USD 81.9 million. Management tied the change to acquisition-related amortization, lower volumes at Crane Payment Innovations and product mix, partly offset by higher volumes in the SAT segment and productivity gains. Interest expense was USD 19.9 million, against USD 16.2 million, reflecting financing for Antares Vision. The tax provision was USD 10.1 million, against USD 15.7 million.

Segment Performance

Security and Authentication Technologies net sales were USD 243.5 million, against USD 228.8 million, with organic growth of 7.2%. Banknotes and Security Products sales were USD 177.9 million and Authentication Products and Solutions sales were USD 65.6 million. Segment operating profit was USD 46.1 million, a Margin of 18.9%, against USD 39.3 million and 17.2%.

Detection and Traceability Technologies net sales were USD 253.6 million, against USD 216.3 million. Antares Vision added USD 50.0 million, while organic sales were lower by USD 11.5 million, or 5.3%, which the company attributed in part to lower volumes in CPI hardware and vending. Segment operating profit was USD 35.7 million, a margin of 14.1%, against USD 60.7 million and 28.1%.

Cash Flow, Debt and Capital Allocation

Cash provided by Operating Activities was USD 184.5 million in the first nine months, against USD 135.7 million, which management linked to higher sales and lower Working Capital usage. Investing activities used USD 258.0 million, against USD 422.7 million, and financing activities provided USD 92.3 million. Cash and cash equivalents were USD 251.1 million at September 30, against USD 233.8 million at year end.

Long-term debt was USD 1,151.4 million and short-term borrowings were USD 231.1 million. On July 2, the company repriced its Term Loan B and increased it from EUR 430.0 million to EUR 480.0 million, using the added EUR 50.0 million and cash on hand mainly to repay part of Term Loan A. The quarterly Dividend was USD 0.18 per share, against USD 0.17. The company made no open-market share repurchases in the quarter.

Data Points to Watch

Net sales of USD 497.1 million sit alongside operating profit of USD 65.7 million, GAAP diluted EPS of USD 0.66 and remaining performance obligations of USD 715.5 million.

The company stated that about 39% of those obligations are scheduled to be recognized as Revenue in 2026, about 55% in 2027 and substantially all of the rest in 2028. Management also pointed to continuing pricing, productivity and supply-chain actions in response to Middle East conflict and trade policy uncertainty, which it described as not currently material to results.