Crane NXT Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Crane NXT (NYSE:CXT) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$370.6m (up 5.2% from 2Q 2023).
• Net income: US$41.6m (down 3.7% from 2Q 2023).
• Profit margin: 11% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.73 (down from US$0.76 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Crane NXT Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electronic industry in the US.

Performance of the American Electronic industry.

The company's shares are down 6.6% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Crane NXT that you need to be mindful of.

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