The following is a summary of the Crane NXT, Co. (CXT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• For Q3 2024, Crane NXT reported a 14% increase in sales year-over-year, reaching approximately $400 million, with a core sales growth of about 5% excluding OpSec.

• Adjusted EPS for the quarter was $1.16.

• The company achieved an adjusted segment operating margin of approximately 27%, reflecting dilution from OpSec and an unfavorable product mix.

• Adjusted free cash flow conversion was approximately 89%, impacted by the timing of shipments that increased working capital requirements at quarter end.

Business Progress:

• Crane NXT announced two significant acquisitions: De La Rue Authentication Solutions and Tru Tag's Smart Packaging technology, aiming to expand its portfolio in authentication technologies.

• The company continues to successfully integrate OpSec, driving improvements in manufacturing and back-office processes using the Crane Business System.

• Published its first ESG report, underlining its commitment to sustainability and good governance.

Opportunities:

• The recent acquisitions of OpSec, De La Rue Authentication Solutions, and Tru Tag's Smart Packaging technology position Crane NXT to capitalize on the growing $3 billion authentication market.

Risks:

• No explicit risks/opportunities detected.

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