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Crane NXT (CXT) Q3 2026 Earnings Report

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CXT Q3 2026 EPS Results

Actual EPS
$1.28
Consensus EPS
$1.21
Beat/Miss
Beat by +$0.07
One Year Ago EPS
$1.28

CXT Q3 2026 Revenue Results

Actual Revenue
$497.10M
Expected Revenue
$495.00M
Beat/Miss
Beat by +$2.10M
YoY Revenue Growth
+11.68%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/04/2026
Time
After Close
Conference Call
Wednesday, November 4, 2026
CXT Upcoming Earnings

Crane NXT's next earnings date is estimated for February 17, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

CXT Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 04, 2026|% Change Since:-5.92%|
Earnings Call Sentiment|Positive

The call was broadly positive. Strong SAT performance, near-record backlog, long-term commercial wins, robust free cash flow, progress on the Antares Vision integration, capacity investments, and raised adjusted EPS guidance outweighed the stated challenges of DTT organic sales softness, CPI hardware and vending weakness, Antares-related margin dilution, and higher interest expense.

Company Guidance

For full-year 2026, Crane NXT raised adjusted EPS guidance to $4.32-$4.42, expects total sales growth of approximately 14%, SAT total sales growth of approximately 11%, DTT total sales growth in the high teens, adjusted EBITDA margin of approximately 24%, non-operating expenses of approximately $75 million-$80 million, adjusted free cash flow conversion of approximately 90%-110%, and year-end net leverage of approximately 2.3x; full-year CapEx for the whole company will still be between 4% and 5% of sales. In 2027, the company expects continued broad-based growth in SAT, margin accretion in SAT, continued growth in Antares Vision and CPI service, CPI hardware markets to remain soft, and EBITDA margin accretion and continued strong free cash flow generation in CPI.

  • Long-Term Commercial Wins Strengthen Revenue VisibilityCrane Currency secured multi-year U.S. government renewals for micro-optics and currency paper, and the Bank of Canada selected Crane's micro-optics technology for its new $20 banknote. Crane Authentication renewed a multi-year agreement with a global transaction-card customer, while a large multinational food brand selected Antares Vision for a turnkey traceability and serialization solution. CPI also continued expanding multi-vendor services into kiosks, smart safes, and self-checkout systems. Management said these awards strengthen revenue visibility for 2027 and beyond.
  • Strong Consolidated Third-Quarter Sales and EBITDA GrowthThird-quarter sales were $497 million, up 12% year over year, while adjusted EBITDA increased 4% to $127 million. Organic sales increased 1%, driven by continued strength in SAT.
  • Robust Free Cash Flow and ConversionAdjusted free cash flow was $98 million, up 15% year over year, with free cash flow conversion of approximately 132%. The company remains on track to achieve its full-year conversion guidance of approximately 90%-110%.
  • SAT Delivered Growth and Margin ExpansionSAT third-quarter sales were $244 million, up approximately 6% year over year, with organic sales growth of 7%. Adjusted EBITDA increased 9% to $71 million, and adjusted EBITDA margin expanded 60 basis points to 29.2%, driven by Crane Authentication synergies, volume leverage, favorable mix, and productivity execution.
  • SAT Backlog Reached Near-Record LevelsSAT backlog increased 8% to approximately $482 million and remained near record-high levels. The company is booking orders into the second half of 2028 and reported meaningful visibility into continued customer demand.
  • International Currency Demand and U.S. Print Order Support GrowthManagement reported sustained international currency demand through 2027 and beyond, with emerging markets continuing redesign cycles and larger developed markets beginning to adopt micro-optics technology. The 2027 U.S. currency print order increased volume by double digits and had a favorable mix toward the $100 bill, which uses Crane's micro-optic technology. The company expects to begin realizing the order early in 2027.
  • Micro-Optics Capacity Expansion AcceleratedCrane is investing in additional micro-optics production lines in the U.S. and Malta and is actively pursuing initiatives to bring the projects online sooner. The company is also hiring and training manufacturing employees for the new equipment. Total company capital expenditures are still expected to be between 4% and 5% of sales, with more allocated toward Crane Currency.
  • Antares Vision Integration Progressing as PlannedSeven months after closing the acquisition, management said the Antares Vision integration is going well and remains on track to achieve its targeted adjusted EBITDA contribution for 2026. Crane is deploying the Crane Business System, has completed multiple Kaizen events, and is reducing lead times, optimizing its footprint, and creating cross-selling opportunities.
  • Continued Investment in Antares Innovation and AICrane continues to invest in Antares Vision innovation, including AI-enabled inspection technologies that combine advanced vision systems with serialization and traceability capabilities.
  • Authentication Margin and Synergy ProgressCrane Authentication delivered a mid-teens EBITDA margin in the third quarter, in line with expectations, supported by strong operating performance and planned synergies. Management expects continued operating-synergy realization and further EBITDA margin accretion.
  • Balance Sheet and Deleveraging ProgressThe company ended the third quarter with net leverage of approximately 2.5x and expects to reach its year-end target of approximately 2.3x through robust cash generation. Crane has no fixed-rate debt maturities until 2036.
  • Raised Adjusted EPS GuidanceThe company raised the midpoint of its full-year adjusted EPS guidance and narrowed the range to $4.32-$4.42. Full-year total sales growth is now expected to be approximately 14%, with SAT growth of approximately 11% and DTT growth in the high teens. Full-year adjusted EBITDA margin remains expected to be approximately 24%.
  • Lower Borrowing Costs and Disciplined Capital AllocationNon-operating expenses are now expected to be approximately $75 million-$80 million, reflecting lower borrowing costs. Management reiterated priorities of investing in high-return organic growth, paying down debt, continuing the dividend, and then considering share buybacks or M&A. The company raised its dividend this year.
  • Positive 2027 Outlook for SAT and ServicesFor 2027, management expects continued broad-based SAT growth supported by sustained high demand and strong backlog conversion, with margin accretion from higher revenue and Crane Authentication synergies. Within DTT, the company expects continued growth in Antares Vision and CPI service, including expansion of service offerings to third-party equipment.
  • Long-Term Strategic PositioningManagement said Crane NXT has been repositioned around attractive markets supported by the rise of industrialized counterfeiting and digitization of supply chains. The company plans to continue using proprietary technologies, customer relationships, commercial wins, and the Crane Business System to drive continuous improvement, margin expansion, free cash flow, and long-term shareholder value.

CXT Earnings History

CXT earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 17, 20272026 (Q4)1.38-1.27――
Nov 04, 20262026 (Q3)1.211.281.280.00% (+0.00)
Aug 05, 20262026 (Q2)1.031.100.9713.40% (+0.13)
May 06, 20262026 (Q1)0.570.600.5411.11% (+0.06)
Feb 11, 20262025 (Q4)1.261.271.25.83% (+0.07)
Nov 05, 20252025 (Q3)1.261.281.1610.34% (+0.12)
Aug 06, 20252025 (Q2)0.950.971.06-8.49% (-0.09)
May 07, 20252025 (Q1)0.520.540.85-36.47% (-0.31)
Feb 12, 20252024 (Q4)1.201.200.9921.21% (+0.21)
Nov 06, 20242024 (Q3)1.141.161.096.42% (+0.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed