WALTHAM, Mass., Feb. 11, 2026 (GLOBE NEWSWIRE) -- 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."
Summary of Fourth Quarter 2025 Results
Three Months EndedDecember 31,
Change
(unaudited, dollars in millions)
2025
2024
$
%
Net sales
$
476.9
$
399.1
$
77.8
19.5%
Core sales
$
19.2
4.8%
Acquisitions
$
43.6
10.9%
Foreign exchange
$
15.0
3.8%
Operating profit
$
79.6
$
70.8
$
8.8
12.4%
Adjusted operating profit*
$
107.0
$
94.6
$
12.4
13.1%
Operating profit margin
16.7
%
17.7
%
(100bps)
Adjusted operating profit margin*
22.4
%
23.7
%
(130bps)
Totals may not sum due to rounding*Please see the Non-GAAP Financial Measures tables in this release
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.
Crane Payment Innovations
Three Months EndedDecember 31,
Change
(unaudited, dollars in millions)
2025
2024
$
%
Net sales
$
216.0
$
214.9
$
1.1
0.5%
Core sales
$
(0.6
)
(0.3)%
Foreign exchange
$
1.7
0.8%
Operating profit
$
62.2
$
49.7
$
12.5
25.2%
Adjusted operating profit*
$
69.9
$
62.4
$
7.5
12.0%
Operating profit margin
28.8
%
23.1
%
570bps
Adjusted operating profit margin*
32.4
%
29.0
%
340bps
Totals may not sum due to rounding
*Please see the Non-GAAP Financial Measures tables in this release
Sales of $216.0 million increased $1.1 million, or 0.5%, compared with the fourth quarter of 2024, driven by favorable foreign exchange of $1.7 million, or 0.8%. Operating profit margin of 28.8% increased 570 basis points, compared with 23.1% last year, driven by favorable pricing, productivity gains and cost saving actions, partially offset by unfavorable product mix. Adjusted operating profit margin of 32.4% increased 340 basis points compared with 29.0% in the prior year.
Security and Authentication Technologies
Three Months Ended December 31,
Change
(unaudited, dollars in millions)
2025
2024
$
%
Net sales
$
260.9
$
184.2
$
76.7
41.6%
Core sales
$
19.8
10.7%
Acquisitions
$
43.6
23.7%
Foreign exchange
$
13.3
7.2%
Operating profit
$
37.7
$
37.4
$
0.3
0.8%
Adjusted operating profit*
$
53.5
$
45.5
$
8.0
17.6%
Operating profit margin
14.4
%
20.3
%
(590bps)
Adjusted operating profit margin*
20.5
%
24.7
%
(420bps)
Totals may not sum due to rounding
*Please see the Non-GAAP Financial Measures tables in this release
Sales of $260.9 million increased $76.7 million, or 41.6%, compared with the fourth quarter of 2024, driven by the sales benefit of the De La Rue acquisition of $43.6 million, or 23.7%, core sales growth of $19.8 million, or 10.7%, primarily due to higher volumes in the Currency business, and favorable foreign exchange of $13.3 million, or 7.2%. Operating profit margin of 14.4% decreased 590 basis points, compared with 20.3% last year, as the impact of higher volumes and productivity gains were more than offset by higher manufacturing costs, unfavorable product mix, and the dilutive impact of acquisitions. Adjusted operating profit margin was 20.5%, compared with 24.7% in the prior year.
Summary of Full Year 2025 Results
Full Year
Change
(unaudited, dollars in millions, except per share data)
2025
2024
$
%
2025 Guidance
Net sales
$
1,656.7
$
1,486.8
$
169.9
11.4%
+9% to +11%
Core sales
$
10.1
0.7%
Acquisitions
$
133.0
8.9%
Foreign exchange
$
26.8
1.8%
Operating profit
$
246.7
$
268.8
$
(22.1
)
(8.2)%
Adjusted operating profit*
$
352.0
$
351.6
$
0.4
0.1%
Operating profit margin
14.9
%
18.1
%
(320bps)
Adjusted operating profit margin*
21.2
%
23.6
%
(240bps)
GAAP EPS
$
2.50
$
3.19
Adjusted EPS*
$
4.06
$
4.26
$4.00 to $4.10
Totals may not sum due to rounding*Please see the Non-GAAP Financial Measures tables in this release
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.
Full Year 2026 Guidance Details
(dollars in millions, except per share data)
Crane NXT Sales Growth
+4% to +6%
SAT Segment Sales Growth
~HSD
CPI Segment Sales Growth
~Flat
Adjusted Segment EBITDA Margin
~28%
Adjusted EBITDA Margin
~25%
Adjusted EPS
$4.10 to $4.40
Other items:
Corporate Expense
~$58
Non-Operating Expense, Net
~$60
Adjusted Tax Rate
~21.5%
Adjusted Free Cash Flow Conversion
~90% to ~110%
Diluted Shares
~58 million
Please see the Non-GAAP Financial Measures definitions in this release.
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 CallCrane 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. For those wishing to participate in the Q&A session of the call, please visit the Investors section of Crane NXT's website at www.cranenxt.com to pre-register. Pre-registration may be completed at any time up to the call start time. An accompanying slide presentation and a replay of the live event will also be available on the Company's website.
About Crane NXT, Co.Crane NXT is a premier industrial technology company that provides trusted technology solutions to secure, detect, and authenticate what matters most to its customers. Through its industry-leading businesses, Crane NXT provides customers with advanced technologies to secure high-value physical products, sophisticated detection equipment and systems, and proprietary products and services that protect brand identity. Crane NXT's approximately 5,000 employees help our customers protect their most important assets and ensure secure, seamless transactions around the world every day. For more information, visit www.cranenxt.com.
On April 3, 2023, Crane NXT, Co. (formerly Crane Holdings, Co.) completed the separation of its wholly-owned subsidiary at that time, Crane Company, in a tax-free distribution of Crane Company shares to Crane NXT stockholders (the "Separation").
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief, or expectations.
Words such as "anticipate(s)," "expect(s)," "intend(s)," "believe(s)," "plan(s)," "may," "will," "would," "could," "should," "seek(s)," and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. The Company assumes no (and disclaims any) obligation to revise or update these statements to reflect future events or circumstances. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, it can give no assurance that its expectations will be attained. The Company cautions investors not to place undue reliance on any such forward-looking statements.
Risks and uncertainties that could cause actual results to differ materially from the Company's expectations include, but are not limited to: the impact of tariffs and other trade measures; changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations; demand for its products, which is variable and subject to factors beyond its control; risks associated with conducting a substantial portion of its business outside the U.S., including the risk of tariffs and other trade measures by the U.S. and other countries; information systems and technology networks failures, breaches in data security, theft of personally identifiable and other information, and non-compliance with its contractual or other legal obligations regarding such information; being unable to identify or complete acquisitions, or to successfully integrate the businesses the Company acquires; fluctuation in the prices of, or disruption in its ability to source, components and raw materials, and delays in the distribution of its products; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow its business as planned; being unable to successfully develop and introduce new products, which would limit its ability to grow and maintain its competitive position; governmental regulations and failure to comply with those regulations; the ability to protect its intellectual property; risks from litigation, claims and investigations, including those related to product liability and warranties, and employee, commercial, intellectual property and environmental matters; risks related to its ability to improve productivity, reduce costs and align manufacturing capacity with customer demand; significant competition in the Company's markets; additional tax expenses or exposures; adverse impacts from intangible asset impairment charges; inadequate or ineffective internal controls; and risks related to the Separation, including not obtaining the intended tax treatment of the Separation transaction, failure of Crane Company to perform under the various transaction agreements and actual or potential conflicts of interest with Crane Company.
Readers should carefully review Crane NXT, Co.'s financial statements and the notes thereto, as well as the section entitled "Risk Factors" in Item 1A of Crane NXT, Co.'s Annual Report on Form 10-K for the year ended December 31, 2024 and the other documents Crane NXT, Co. and its subsidiaries file from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
(Financial Tables Follow)
CRANE NXT, CO. AND SUBSIDIARIESConsolidated and Combined Condensed Statements of Operations Data(unaudited, in millions, except per share data)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
Net sales:
Crane Payment Innovations
$
216.0
$
214.9
$
846.6
$
873.2
Security and Authentication Technologies
$
260.9
$
184.2
$
810.1
$
613.6
Total net sales
$
476.9
$
399.1
$
1,656.7
$
1,486.8
Operating profit (loss):
Crane Payment Innovations
$
62.2
$
49.7
$
221.6
$
228.4
Security and Authentication Technologies
$
37.7
$
37.4
$
97.4
$
110.9
Corporate
$
(20.3
)
$
(16.3
)
$
(72.3
)
$
(70.5
)
Total operating profit
$
79.6
$
70.8
$
246.7
$
268.8
Interest income
$
0.3
$
0.2
$
1.0
$
1.6
Interest expense
$
(16.2
)
$
(12.1
)
$
(60.3
)
$
(47.8
)
Equity investment (loss) gain1
$
(12.0
)
$
0.7
$
(11.5
)
$
0.8
Miscellaneous income, net
$
1.8
$
1.4
$
5.1
$
3.0
Income before income taxes
$
53.5
$
61.0
$
181.0
$
226.4
Provision for income taxes
$
6.0
$
3.4
$
35.9
$
42.3
Net income before allocation to noncontrolling interest
$
47.5
$
57.6
$
145.1
$
184.1
Less: Noncontrolling interest in subsidiaries' earnings
$
(0.5
)
$
—
$
—
$
—
Net income attributable to common shareholders
$
48.0
$
57.6
$
145.1
$
184.1
Earnings per diluted share
$
0.83
$
1.00
$
2.50
$
3.19
Average diluted shares outstanding
58.1
57.9
58.0
57.8
Average basic shares outstanding
57.4
57.2
57.4
57.1
Supplemental data:
Cost of sales
$
274.7
$
218.6
$
952.9
$
821.7
Selling, general and administrative
$
116.6
$
102.3
$
440.3
$
386.2
Restructuring charges
$
6.0
$
7.4
$
16.8
$
10.1
1 Includes stock-based compensation of $12.0 million issued to senior management of Antares Vision, an equity method investee.
CRANE NXT, CO. AND SUBSIDIARIESConsolidated and Condensed Balance Sheets(unaudited, in millions)
Balance as of December 31,
2025
2024
Assets
Current assets:
Cash and cash equivalents
$
233.8
$
165.8
Accounts receivable, net
351.8
265.9
U.S. and foreign taxes on income
12.7
8.6
Inventories, net
169.5
144.8
Other current assets
85.1
57.4
Total current assets
852.9
642.5
Property, plant and equipment, net
303.8
272.3
Long-term deferred tax assets
2.5
2.2
Investment in equity affiliates and joint ventures
139.4
1.3
Other assets
96.6
92.3
Intangible assets, net
557.2
419.3
Goodwill
1,164.0
956.6
Total assets
$
3,116.4
$
2,386.5
Liabilities and equity
Current liabilities:
Short-term borrowings
$
135.1
$
210.0
Accounts payable
132.3
116.6
Accrued liabilities
273.0
211.2
U.S. and foreign taxes on income
28.7
24.6
Total current liabilities
569.1
562.4
Long-term debt
1,004.4
