Crane NXT, Co. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:23 pm EST
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Crane NXT, Co. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 352.9 million compared to USD 335.1 million a year ago. Net income was USD 51.9 million compared to USD 44.6 million a year ago. Basic earnings per share from continuing operations was USD 0.91 compared to USD 0.79 a year ago. Diluted earnings per share from continuing operations was USD 0.9 compared to USD 0.79 a year ago.
For the nine months, sales was USD 1,034.4 million compared to USD 1,001.7 million a year ago. Net income was USD 138.8 million compared to USD 142.9 million a year ago. Basic earnings per share from continuing operations was USD 2.44 compared to USD 2.52 a year ago. Diluted earnings per share from continuing operations was USD 2.42 compared to USD 2.52 a year ago.
Crane NXT, Co. is an industrial technology company that provides technology solutions to secure, detect, and authenticate what matters most to its customers. The Company operates through two segments: Crane Payment Innovations (CPI) and Security and Authentication Technologies. The CPI segment provides electronic equipment and associated software leveraging extensive and proprietary core capabilities with various detection and sensing technologies for applications, including verification and authentication of payment transactions. The Security and Authentication Technologies segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods and industrial products. The Security and Authentication Technologies segment also provides brand protection and authentication solutions. The Company operates in the United States, the United Kingdom, Mexico, Japan, Germany, Sweden, and Malta.