Crane NXT net income down 24pct in 3Q despite 12pct net sales increase

Crane NXT Co, a maker of industrial-technology products including those for the gaming sector, reported net sales of US$497.1 million for the third quarter of 2026, up 11.7 percent from a year earlier. Third-quarter net income, however, declined by 24.0 percent year-on-year to US$38.4 million, according to a Wednesday announcement. Crane NXT said its next quarterly dividend of US$0.18 per share, would be payable on December 9, 2026. The firm’s third-quarter operating profit decreased by 41.2 percent from a year ago to US$35.7 million. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) stood at US$71.1 million for the three months to September 30, up 1.9 percent from a year earlier. Aaron Saak, Crane NXT’s president and chief executive, said in prepared remarks that the company had, in the third quarter, secured “meaningful long-term customer wins that enhance visibility into future revenue”. Crane NXT also updated its full-year guidance previously provided on August 5. The company said it expected full-year 2026 sales growth of around 14 percent, versus a prior forecast of 15 percent to 17 percent. It also updated its guidance on adjusted earnings per diluted share (EPS), to between US$4.32 and US$4.32 and US$4.42, from a previous range of US$4.22 to US$4.42.