Crane NXT Contact: Investor Relations ContactUs@cranenxt.com www.cranenxt.com WALTHAM, Mass., June 20, 2024 (GLOBE NEWSWIRE) -- Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a premier industrial technology company, today announced it has appointed Michael Mahan as President of its Crane Payment Innovations (CPI) business, effective July 8, 2024. In this role, Mr. Mahan will be responsible for driving the CPI growth strategy, accelerating innovation, and leveraging the Crane Business System to d ...

U.S. stock markets have maintained their northward journey in 2024 after an astonishing rally in 2023. The bull run has gained further thrust as major stock indexes have posted multiple all-time highs on both intraday and closing basis so far this year. Year to date, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — have advanced 2.8%, 14.8% and 20.9%. However, the major driver of last year's and this year's rally was globally booming artificial intelligence (AI), especially ge ...

Investors with an interest in Manufacturing - General Industrial stocks have likely encountered both Chart Industries (GTLS) and Crane (CR) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 88-2846451 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $1.00 CR New York Stock Exchange FORM 10-Q Mark One: ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT ...

On Apr 25, the Department of Commerce reported a series of economic data for first-quarter 2024, which raised concerns regarding the health of the economy and persisting inflation. U.S. GDP grew at a 1.6% annualized pace, well below the consensus estimate of 2.5%. GDP increased 3.4% and 4.9% year over year, respectively, in the fourth and third quarters 2023. In 2023, the economy grew 2.5% year over year.Consumer spending – the largest driver of GDP – increased 2.5% in first-quarter 2024, lagging the 3% con ...

Have you been paying attention to shares of Crane (CR) ? Shares have been on the move with the stock up 6.6% over the past month. The stock hit a new 52-week high of $145.8 in the previous session. Crane has gained 21.9% since the start of the year compared to the 6.7% move for the Zacks Industrial Products sector and the 6.8% return for the Zacks Manufacturing - General Industrial industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't miss ...

Key PointsCrane stock reported its first quarter 2024 earnings, showing investors why it may be one of the best stocks in the sector.With rising price targets and a boost in management guidance, the odds favor investors looking to beat the market this year. Shares were up more than 6.3% after the announcement, making a new 52-week high.5 stocks we like better than Bank of AmericaThe first quarter of the 2024 earnings season has kicked off. This quarter is typically regarded as giving investors the initial p ...

Financial Data and Key Metrics Changes - The company reported adjusted EPS of $1.22, reflecting a 14% growth compared to the previous year, driven by 5% core sales growth and strong leading indicators [73][79] - Adjusted operating margins decreased to 20.8%, down 260 basis points from last year's record margins, attributed to challenging comparisons and operational factors [8][6] - Total debt at the end of the first quarter was approximately $357 million, with $219 million in cash on hand, indicating substantial financial flexibility [25] Business Line Data and Key Metrics Changes - In the aerospace and electronics segment, sales increased by 5%, with adjusted segment margins rising to 22.4%, up 150 basis points from the previous year [104][101] - The process flow technologies segment saw sales of $226 million, a 25% increase year-over-year, with core growth of 20% and a 5% contribution from the Vian acquisition [7][10] - Engineered materials sales decreased by 12% to $55 million, with adjusted operating profit margins dropping to 14.7% [46] Market Data and Key Metrics Changes - Core FX neutral backlog in orders increased by 11% year-over-year, indicating strong demand across markets, particularly in North America and China [22][80] - Military aftermarket sales grew by 53%, while commercial aftermarket sales increased by 34%, reflecting robust demand in these sectors [23] Company Strategy and Development Direction - The company signed an agreement to acquire CryoWorks for $61 million, which is expected to enhance its portfolio in cryogenic products and solutions, targeting high-growth markets [17][74] - The company aims for a long-term core sales growth rate of 4% to 6%, with expectations for double-digit average annual core profit growth [75][96] - The strategic focus includes leveraging technology investments and expanding product offerings in high-margin end markets [9][83] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in securing multiple high-power conversion wins in military applications, anticipating significant sales opportunities [3] - The outlook for 2024 was raised, expecting core sales growth of 12%, up from a prior estimate of 10%, reflecting better-than-expected order strength [82][24] - Management acknowledged ongoing supply chain challenges but noted gradual improvements, maintaining a cautious yet optimistic outlook for the year [103][34] Other Important Information - The company raised its full-year adjusted free cash flow guidance to a range of $250 million to $275 million, reflecting better than 90% free cash flow conversion [85] - The upcoming Investor Day is scheduled for May 14, where the company plans to share further insights on its growth strategy [75][147] Q&A Session Summary Question: Can you discuss the competitive intensity at PFT relative to Chinese competitors? - Management noted that there have not been significant changes in competitive dynamics, with no dramatic shifts observed in the last couple of years [31][53] Question: What is the outlook for aftermarket strength in military and commercial sectors? - Management indicated that aftermarket strength remains robust, with expectations for continued demand in both military and commercial segments [127][142] Question: How does the recent acquisition of CryoWorks fit into the company's growth strategy? - The acquisition is expected to enhance the company's capabilities in cryogenic applications and support growth in related markets [129][97]

| --- | --- | --- | --- | |--------------------|-----------|--------------------|---------| | | Q1 2024 | | Q1 2024 | | OE Sales | +20% | Core Growth | +20.4% | | Aftermarket Sales | +39% | Vian Acquisition | +5.0% | | OE/Aftermarket Mix | 69% / 31% | FX Translation | - | | | | Total Sales Change | +25.4% | 8 Substantial additional value creation potential from flexible balance sheet AEROSPACE & ELECTRONICS 7 * Excludes Special Items. Please see non-GAAP Financial Measures tables for details. ▪ 2024 Guidanc ...

Crane (CR) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.93%. A quarter ago, it was expected that this maker of aerospace, electronics and engineered industrial products would post earnings of $0.81 per share when it actually produced earnings of $0.90, delivering a surprise of 11 ...