Crane NXT Announces Fourth Quarter and Full Year 2024 Results; Raises Annual Dividend by 6%

Core Insights - Crane NXT reported a full year sales growth of 7%, with GAAP EPS of $3.19 and Adjusted EPS of$4.26, indicating a solid performance in 2024 [1][3][16] - The company is on track to close the acquisition of De La Rue Authentication Solutions in the second quarter of 2025, enhancing its position in the authentication market [1][3] Fourth Quarter 2024 Highlights - Fourth quarter sales reached $399.1 million, an increase of$42.2 million or 11.8% year-over-year, driven by the OpSec Security acquisition and core sales growth [6][14] - GAAP operating profit margin was 17.7%, while Adjusted operating profit margin improved to 23.7% [5][7] - GAAP EPS for the fourth quarter was $1.00, and Adjusted EPS was$1.20 [8][16] Full Year 2024 Results - Total net sales for 2024 were $1,486.8 million, a 6.9$268.8 million, with an operating profit margin of 18.1% [15][16] - Adjusted operating profit margin decreased to 23.6% from 24.8% in the previous year [15] Financial Position and Cash Flow - Cash provided by operating activities was $214.1 million in 2024, down from$276.3 million in 2023, primarily due to timing of shipments and increased capital expenditures [17] - The company ended 2024 with cash and cash equivalents of $165.8 million and total debt of$750.6 million [18] 2025 Guidance - Crane NXT introduced guidance for 2025, projecting Adjusted EPS between $4.00 and$4.30, with sales growth expectations of 1% to 3% [19][20] - The company anticipates Adjusted Segment Margin to be around 26% to 27% [20] Dividend Announcement - The company declared a quarterly dividend of $0.17 per share for the first quarter of 2025, reflecting a 6% increase over the prior year [21]