Every material Form 8-K Crane NXT filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On December 9, 2024, Crane NXT entered a Second Amendment to its credit agreement with JPMorgan Chase Bank, N.A., as administrative agent. The amendment adds $200 million of incremental revolving commitments and £300 million of delayed draw term loan commitments, which will fund, together with cash on hand, the previously announced acquisition of De La Rue plc's authentication division. For shareholders, the filing adds borrowing capacity tied to that pending acquisition, which is subject to closing conditions.
Incremental revolving commitments of $200 million; aggregate revolving commitments total $700 million as of December 9, 2024.
Delayed draw term loan commitments of £300 million, available to fund the De La Rue Authentication Solutions acquisition with cash on hand.
Loans are subject to customary closing conditions, including closing of the acquisition; agreement filed as Exhibit 10.1 with some schedules omitted.
Crane NXT reported third-quarter 2024 sales of $403.5 million, up 14.3% from a year earlier, with the OpSec Security acquisition contributing $32.3 million of the increase. GAAP earnings per diluted share fell to $0.81 from $0.90, while Adjusted EPS rose to $1.16 from $1.09. The company narrowed full-year Adjusted EPS guidance to $4.22 to $4.30 from $4.10 to $4.35 and cut its Adjusted free cash flow conversion outlook to about 70% from about 100%.
Sales of $403.5 million, up 14.3%; core sales growth of 4.7%, and OpSec Security added $32.3 million (9.1%)
GAAP operating profit of $75.0 million versus $79.7 million a year earlier; GAAP operating margin 18.6% versus 22.6%
Full-year 2024 Adjusted EPS guidance narrowed to $4.22 to $4.30; Adjusted free cash flow conversion lowered to about 70% from about 100%
Quarterly dividend of $0.16 per share, payable December 11, 2024, to holders of record as of November 29, 2024
Crane NXT reported second quarter 2024 sales of $370.6 million, up 5.2% from a year earlier, driven mainly by the acquired OpSec Security business. GAAP earnings per diluted share fell to $0.72 from $0.75, and Adjusted EPS fell to $1.06 from $1.12, while the company narrowed its full year Adjusted EPS guidance to $4.20 to $4.35 from $4.10 to $4.35.
Q2 2024 net sales of $370.6 million, up $18.2 million or 5.2%; OpSec added $20.5 million (5.8%) and core sales grew 0.8%
GAAP operating profit margin was 18.2%, down from 19.5%; Adjusted operating profit margin was 24.1%, down from 26.5%
Full year Adjusted EPS guidance narrowed to $4.20 to $4.35 from $4.10 to $4.35
Quarterly dividend of $0.16 per share declared, payable September 11, 2024 to holders of record as of August 30, 2024
Crane NXT appointed Michael Mahan as President of its Crane Payment Innovations (CPI) business, effective July 8, 2024, reporting to CEO Aaron W. Saak. Current CPI interim president and SVP Kurt Gallo has decided to retire, effective February 28, 2025, to allow a transition. The filing contains no financial results, so the change is a leadership update for the CPI segment.
Michael Mahan appointed President of Crane Payment Innovations, effective July 8, 2024
Mahan previously led a global business line at Schneider Electric's Secure Power Division
Kurt Gallo, SVP and interim CPI President, will retire effective February 28, 2025, and help with transition and growth projects
Crane NXT reported first-quarter 2024 net sales of $313.6 million, down 4.7% from a year earlier, with GAAP EPS of $0.66 versus $0.77 and Adjusted EPS of $0.85 versus $0.98. It completed the $270 million cash acquisition of OpSec Security on May 3, 2024, and raised full-year 2024 sales growth guidance to 5% to 8% from -1% to +3%, while reaffirming Adjusted EPS guidance of $4.10 to $4.35.
Q1 2024 net sales were $313.6 million, down $15.5 million or 4.7%; core sales fell 4.2%, mainly from lower volumes at Crane Payment Innovations.
GAAP EPS was $0.66 versus $0.77; Adjusted EPS was $0.85 versus $0.98.
Full-year 2024 sales growth guidance was raised to 5% to 8% from -1% to +3%, reflecting the OpSec acquisition; Adjusted EPS guidance of $4.10 to $4.35 was unchanged.
Quarterly dividend of $0.16 per share declared, payable June 12, 2024 to holders of record as of May 31, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Crane NXT filing is on SEC EDGAR ↗. 8-K briefs of other companies →