Crane NXT (CXT) Q1 2026 earnings summary

Executive summary

• Achieved 17% year-over-year sales growth to $388 million, with 6% organic growth, driven by strong SAT performance and the early completion of the Antares Vision acquisition, expanding into life sciences and food & beverage markets.

• Adjusted EBITDA margin expanded by 80 basis points to 19.3%, with adjusted EPS of $0.60, while GAAP EPS was $0.11 due to higher acquisition-related costs and stock-based compensation.

• Operating profit declined 40.5% to $22.2 million, and net income attributable to common shareholders was $6.4 million, reflecting acquisition and integration costs.

• Integration of De La Rue and Antares Vision contributed to segment realignment and growth, with restructuring charges incurred.

• On track to meet full-year expectations, with normal seasonality anticipated.

Financial highlights

• Q1 sales reached $388 million, up from $330.3 million year-over-year; net sales rose 17.4%.

• Adjusted EBITDA was $74.7 million (19.3% margin), up from $61 million (18.5%) year-over-year.

• Adjusted EPS was $0.60, while diluted GAAP EPS was $0.11.

• Free cash flow was $(24.1) million, with adjusted free cash flow at $(18.9) million and conversion at 19%.

• Net income margin was 1.7%; operating margin decreased to 5.7% from 11.3% year-over-year.

Outlook and guidance

• Full-year 2026 sales growth guidance raised to 15%-17%, reflecting the Antares Vision acquisition.

• Adjusted EPS guidance maintained at $4.10-$4.40.

• Adjusted EBITDA margin expected at ~24%-27% for the year.

• Free cash flow conversion targeted at 90%-110% for the year.

• 88% of remaining performance obligations expected to be recognized as revenue in 2026.