Crane NXT announced its financial results for the fourth quarter and full year ended December 31, 2025.

Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a premier industrial technology company, today announced its financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Highlights

Sales growth of 19.5% with core sales growth of 4.8% year-over-year.

GAAP operating profit margin of 16.7% and Adjusted operating profit margin of 22.4%.

GAAP earnings per diluted share (EPS) of $0.83, and Adjusted EPS of $1.27.

Completed the first phase of Antares Vision acquisition.

Declared a first quarter 2026 dividend of $0.18 per share, an increase of approximately 6% over the prior year.

 

Full Year 2025 Highlights

Completed the acquisition of De La Rue Authentication Solutions.

Announced the acquisition of Antares Vision, expanding the Company's portfolio to the Life Sciences & Food and Beverage sectors.

Sales growth of 11.4% with core sales growth of 0.7% year-over-year.

GAAP operating profit margin of 14.9% and Adjusted operating profit margin of 21.2%.

GAAP EPS of $2.50, and Adjusted EPS of $4.06.

 

Full Year 2026 Guidance

Introducing 2026 guidance with Adjusted EPS of $4.10 to $4.40. Please see the "Full Year 2026 Guidance" section in this press release for more details.

 

Aaron W. Saak, Crane NXT's President, and Chief Executive Officer, stated: "In 2025, we made significant progress evolving our portfolio and are accelerating organic growth while maintaining margins and strong free cash flow. We continue to gain share in Crane Currency, winning a total of 20 new denominations with our leading micro-optics technology in 2025, and we further solidified our position as a trusted technology leader in the global authentication market with the creation of Crane Authentication. In Q4, we closed on our initial equity investment in Antares Vision, expanding our portfolio to the attractive Life Sciences and Food & Beverage sectors, and are on track to complete the acquisition in 2026."

Mr. Saak continued: "As we look ahead, with the investments to upgrade our U.S. Currency equipment completed, we are excited for the anticipated launch of the new U.S. $10 banknote later this year, and are well-positioned to accelerate growth in 2026 and deliver durable, long-term value for our shareholders."

Fourth Quarter 2025 Results

Fourth quarter 2025 sales were $476.9 million, an increase of $77.8 million, or 19.5%, compared with the fourth quarter of 2024, driven by the sales benefit from the De La Rue acquisition of $43.6 million, or 10.9%, core sales growth of $19.2 million, or 4.8%, driven by Crane Currency, and favorable foreign exchange of $15.0 million, or 3.8%.

Fourth quarter 2025 operating profit was $79.6 million, compared with $70.8 million in the fourth quarter of 2024. Operating profit margin was 16.7%, compared with 17.7% last year, reflecting higher manufacturing costs, unfavorable product mix and the dilutive impact of acquisitions, partially offset by productivity gains and cost saving actions. Adjusted operating profit margin of 22.4% decreased 130 basis points, compared with 23.7% in the prior year. (Please see the Non-GAAP Financial Measures tables in this release for a detailed reconciliation of reported results to adjusted measures).

Fourth quarter 2025 GAAP EPS was $0.83, and Adjusted EPS was $1.27. (Please see the Non-GAAP Financial Measures tables in this release for a detailed reconciliation of reported results to adjusted measures).

Fourth Quarter 2025 Segment Results

All comparisons detailed in this section refer to operating results for the fourth quarter 2025 versus the fourth quarter 2024.

Full Year 2025 Results

Full year 2025 sales were $1,656.7 million, an increase of $169.9 million, or 11.4%, compared with full year 2024, primarily driven by the sales benefit from the OpSec Security and De La Rue acquisitions of $133.0 million or 8.9%, and core sales growth of $10.1 million, or 0.7%, driven by Currency sales and favorable foreign exchange of $26.8 million, or 1.8%.

Full year 2025 operating profit was $246.7 million, compared with $268.8 million in full year 2024. Operating profit margin was 14.9%, compared with 18.1% last year, reflecting the dilutive impact of the OpSec Security and De La Rue acquisitions and unfavorable product mix, partially offset by favorable pricing, productivity gains and cost saving actions. Adjusted operating profit margin of 21.2% decreased 240 basis points, compared with 23.6% in the prior year. (Please see the Non-GAAP Financial Measures tables in this release for a detailed reconciliation of reported results to adjusted measures).

Full year 2025 GAAP EPS was $2.50, and Adjusted EPS was $4.06. (Please see the Non-GAAP Financial Measures tables in this release for a detailed reconciliation of reported results to adjusted measures).

Full Year 2025 Cash Flow and Other Financial Metrics

Cash provided by operating activities was $241.5 million in 2025, compared with $214.1 million last year. Adjusted free cash flow was $221.8 million in 2025, compared with $186.4 million last year. The $35.4 million, or 19%, increase in Adjusted free cash flow was primarily related to improved working capital management. (Please see the Non-GAAP Financial Measures tables in this release for a detailed reconciliation of reported results to adjusted measures).

The Company held cash and cash equivalents of $233.8 million as of December 31, 2025, compared with $165.8 million as of December 31, 2024. Total debt was $1,139.5 million as of December 31, 2025, compared with $750.6 million as of December 31, 2024. The increase in total debt reflects the financing of the De La Rue and Antares Vision acquisitions.

Full Year 2026 Guidance

The Company is introducing full year 2026 guidance as shown in the table below. This guidance only includes the interest expense associated with the initial 32% investment in Antares Vision. Growth rates below represent growth over full year 2025.

First Quarter 2026 Dividend

Crane NXT announced its quarterly dividend of $0.18 per share, an increase of 6% over the prior year, for the first quarter of 2026. The dividend is payable on March 11, 2026 to shareholders of record as of February 28, 2026.

Conference Call

Crane NXT scheduled a conference call to discuss the fourth quarter and full year financial results, on Thursday, February 12, 2026, at 10:00 A.M. Eastern Time. Interested parties may listen to a live webcast of the conference call by visiting the Events section of the Investor Relations section of the Company's website.

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