Crane NXT, Co.NYSE: CXT

Third Quarter 2026 Presentation

· Issued by Crane NXT, Co.

Summary by 6ix AI

Crane NXT, which has Security and Authentication Technologies (SAT) and Detection and Traceability Technologies (DTT) segments, reported third quarter 2026 sales of $497M, up 12% from $445M, with organic sales (excluding currency and first-year acquisition effects) up 1%. Adjusted EPS was flat at $1.28.

Key details

  • Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, excluding special items) rose 4% to $127M, while the margin fell 190 basis points (1.9 percentage points) to 25.6%; the company cites expected dilution from Antares Vision in DTT. Adjusted free cash flow rose 15% to $98M, about 132% of adjusted net income.
  • SAT sales rose 6% to $244M (7% organic), adjusted EBITDA rose 9% to $71M with a 29.2% margin, and backlog rose 8% to $482M.
  • DTT sales rose 17% to $254M but fell 5% organically, and its adjusted EBITDA margin fell 430 basis points to 28.0%. DTT backlog rose 115% to $234M, with Antares Vision adding about $125M; Crane NXT says Antares Vision was affected by project timing.
  • Full-year adjusted EPS guidance is now $4.32 to $4.42, from $4.22 to $4.42. Full-year sales growth guidance is now about 14%, from 15% to 17%, with SAT about 11% and DTT in the high teens. Guidance for net non-operating expense is now about $75 million to $80 million, from about $80 million.
  • Crane NXT says it has no fixed-rate debt maturities until 2036.

What’s still pending

  • The full-year 2026 figures are guidance, not results.
  • Net leverage (net debt divided by trailing twelve-month adjusted EBITDA) is estimated at about 2.3 times by year end.
  • Full-year adjusted free cash flow conversion is guided at about 90% to about 110%.

6ix AI wrote this summary from the release below and checked it against the release.

THIRD QUARTER 2026 FINANCIAL RESULTS

November 5, 2026

Strong organic sales growth and adjusted EBITDA margin expansion in our Security and Authentication Technologies segment

Generated robust free cash flow, supporting deleveraging and high-return growth investments

Raised the mid-point of full year adjusted EPS guidance and narrowed the range

Secured multiple long-term commercial wins across both segments, further strengthening future revenue visibility

3

Sales

+12%

+1% Organic1

(1%) FX

$497M

$445M

Q3 2025

Q3 2026

Continued momentum in SAT

Adj. EBITDA1

+4%

(190) bps

$127M

$122M

Q3 2025

Q3 2026

Margin expansion in SAT offset by expected dilution from Antares Vision in DTT

27.5%

25.6%

Flat

$1.28

$1.28

Q3 2025

Q3 2026

Strong operational performance offset by higher below the line items

Adj. EPS1

Adj. FCF1

+15%

$98M

$85M

Q3 2025

Q3 2026

FCF conversion of ~132%; On-track for full year conversion of ~90% to ~110%

1 Please see the appendix for Non-GAAP reconciliations and explanations. 4

SECURITY AND AUTHENTICATION TECHNOLOGIES (SAT) Q3 RESULTS

Sales

+6%

+7% Organic1

(1%) FX

$244M

$229M

Q3 2025

Q3 2026

Growth in Authentication and sustained demand for international Currency

Adj. EBITDA1

+9%

+60 bps

$71M

$65M

Q3 2025

Q3 2026

Authentication synergies, volume leverage, and favorable mix

drove margin expansion

28.6%

29.2%

Backlog

+8%

$482M

$448M

Q3 2025 Q3 2026

Currency backlog remains near record levels;

booking orders into 2H 2028

1 Please see the appendix for Non-GAAP reconciliations and explanations. 5

DETECTION AND TRACEABILITY TECHNOLOGIES (DTT) Q3 RESULTS

Sales

+17%

(5%) Organic1

(1%) FX

$254M

$216M

Q3 2025

Q3 2026

CPI Service growth partially offset softness in Vending and Hardware;

Antares Vision impacted by project timing

Adj. EBITDA1

+2%

(430) bps

$70M

$71M

Q3 2025

Q3 2026

Strong productivity helped mitigate lower organic volume; expected Antares Vision margin dilution

32.3%

28.0%

Backlog

+115%

$234M

$109M

Q3 2025 Q3 2026

Antares Vision adds ~$125M; CPI backlog remained stable

1 Please see the appendix for Non-GAAP reconciliations and explanations. 6

STRONG CASH GENERATION ENHANCES FINANCIAL FLEXIBILITY Net Leverage1

Antares Vision Acquisition

  • Adjusted free cash flow conversion1 of ~132%

  • On track to achieve ~90-110% full year guidance

    ~2.3X

  • Strong FCF generation while accelerating investments in high-ROI capital projects

  • Net leverage estimated at ~2.3X by year end

  • No fixed-rate debt maturities until 2036

2.3X

2.5X

2.7X

2.9X

Dec. 2025 Mar. 2026 Jun. 2026 Sep. 2026 Dec. 2026F

Cash generation driving continued reduction in net leverage

1 Please see the appendix for Non-GAAP reconciliations and explanations. 7

DOLLARS IN MILLIONS

Crane NXT Sales Growth1 SAT segment sales growth DTT segment sales growth

Adjusted Segment EBITDA Margin2 Adjusted EBITDA Margin2

Adjusted EPS2

PREVIOUS GUIDANCE

15% to 17%

~HSD to ~LDD Low 20's%

~27%

~24%

$4.22 to $4.42

UPDATED GUIDANCE

Guidance update:

  • Raising the mid-point of full year adjusted EPS guidance

  • Continued strong demand across SAT

  • Market softness and project timing in DTT

  • Margin expectations on track

  • Improvement in non-operating expense from lower borrowing costs

~14%

~11%

High-Teens

~27%

~24%

$4.32 to $4.42

Other Information: Corporate Expense

Non-Operating Expense, Net Adj. Free Cash Flow Conversion2

~$58

~$80

~90% to ~110%

~$58

~$75-$80

~90% to ~110%

1 Represents growth over FY 2025.

2 Please see the appendix for Non-GAAP reconciliations and explanations. 8

Differentiated Technology

Proprietary technologies and large installed base create high switching costs and qualification barriers, reinforced by 150+ years serving governments and regulated industries

Attractive Financial Profile

Mid-20% adjusted EBITDA margin2 and ~100% free cash flow conversion, enabled by a culture of continuous improvement utilizing the Crane Business System

Disciplined Capital Allocation

Balanced capital allocation across high-ROI organic investments, programmatic M&A with ample capacity, opportunity for strategic share repurchases going forward, and consistent return of capital through dividends

Attractive and Growing End Markets

Approximately $13B1 addressable market supported by durable growth tailwinds from rising counterfeiting, tightening product-safety regulations and digitizing supply chains

1 Market size estimates from Kearney and internal company estimates.

2 Please see the appendix for Non-GAAP reconciliations and explanations. 9

APPENDIX 2026 SALES GROWTH GUIDANCE

Organic1

FX

Acquisitions

Total2

SAT

~5%

~1%

4% to 5%

~11%

DTT

(~5%)

~Flat

~22%

High-Teens

Total Crane NXT

~Flat

~1%

~14%

~14%

1 Please reference the Non-GAAP reconciliations and explanations in the appendix.

2 Figures presented represent approximations and do not sum due to rounding.

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Crane NXT reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, Adjusted net income, Adjusted operating profit, free cash flow, and Adjusted free cash flow, Adjusted free cash flow conversion, net leverage ratio, and organic sales that are not prepared in accordance with GAAP. These non-GAAP measures are in addition, and not a substitute for or superior, to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP. The Company's management believes that these non-GAAP measures of financial results (including on a forward-looking or projected basis) provide useful supplemental information to investors about Crane NXT. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore the Company's non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

"Special items" are items that are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Special items consist of:

  • Transaction related expenses including acquisition and divestiture related expenses such as incremental professional fees associated with transaction closing and integration of acquisitions.

  • Acquired intangible asset amortization.

  • Acquisition related adjustments primarily reflect purchase accounting adjustments arising from acquisitions, including fair value step-ups (such as the amortization of acquisition-related inventory). These adjustments include the fair value remeasurement of the Company's equity-method investment in Antares Vision as of the acquisition date, as well as stock-based compensation issued to Antares Vision senior management in connection with the acquisition, and debt extinguishment costs related to the early repayment of assumed debt.

  • Restructuring and related costs are predominantly related to severance charges associated with the integration of the DLR and OpSec businesses, and the alignment of DTT's cost structure with existing economic conditions. These costs include formal restructuring programs as well as other discrete actions. Certain costs included in this adjustment are not reported as restructuring charges in the GAAP results due to their immateriality.

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    Reconciliations of certain forward-looking and projected non-GAAP measures, including Adjusted segment EBITDA margin and Adjusted EPS, to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on Crane NXT's future GAAP results. Crane NXT calculates Adjusted segment EBITDA margin and Adjusted EPS as described below.

  • "Adjusted Segment EBITDA" excludes net interest expense, tax expense and depreciation and amortization expense from net income, as well as special items. "Adjusted segment EBITDA margin" is calculated as Adjusted segment EBITDA divided by sales.

  • "Adjusted EPS" is calculated as Adjusted net income divided by diluted shares. Adjusted net income is calculated as net income excluding special items, the tax effect of these adjustments and other discrete tax items.

    The Company's management believes that each of the following non-GAAP measures provides useful information to investors regarding the Company's financial conditions and operations:

    "Adjusted net income" and "Adjusted EPS" exclude special items, the tax effect of these adjustments and other discrete tax items which are outside of the Company's underlying business performance, some of which may or may not be non-recurring, and which management believes may complicate the presentation of the Company's underlying earnings and operational performance.

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    • "Free cash flow," "Adjusted free cash flow" and "Adjusted free cash flow conversion" provide supplemental information to assist management and investors in analyzing the Company's ability to generate liquidity from its operating activities. The measure of free cash flow does not take into consideration certain other non-discretionary cash requirements such as, for example, mandatory principal payments on the Company's long-term debt. Free cash flow is calculated as cash provided by operating activities less capital expenditures. Adjusted free cash flow is calculated as free cash flow adjusted for certain cash items which management believes may complicate the interpretation of the Company's underlying free cash flow performance such as certain transaction related cash flow items. Adjusted free cash flow conversion is calculated as Adjusted free cash flow divided by Adjusted net income. These items are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future cash flows that are complementary to GAAP metrics.

    • "Adjusted EBITDA" and "Adjusted EBITDA margin" exclude net interest expense, tax expense, depreciation and amortization expense and special items. "Adjusted operating profit (loss)" excludes special items described above that impact operating profit. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics.

    • "Net leverage ratio" refers to Net debt divided by trailing twelve months (TTM) Adjusted EBITDA. "Net debt" represents total debt (excluding deferred financing costs), including acquired debt from Antares Vision acquisition, less cash and cash equivalents. The TTM Adjusted EBITDA includes the Antares Vision TTM Adjusted EBITDA for periods prior to the acquisition. Management believes that these non-GAAP financial measures provide useful information about our ability to satisfy our debt obligations.

    • References to "organic," such as "organic sales," exclude currency effects and, where applicable, the first-year impacts of acquisitions and divestitures. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in identifying underlying growth trends in our business and facilitate comparison of our sales performance, for example, with prior and future periods that are complementary to GAAP metrics.

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NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.

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Totals may not sum due to rounding. *Please see the Non-GAAP Financial Measures definitions in this presentation. 1 The $9.9 million acquisition related adjustment includes $11.1 million of operating expenses partially offset by $1.2 million of non-operating adjustments

NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.

Totals may not sum due to rounding. *Please see the Non-GAAP Financial Measures definitions in this presentation.

1 The $19.3 million acquisition related adjustment includes $25.4 million of operating expenses partially offset by $6.1 million of non-operating adjustments 16

NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.

*Please see the Non-GAAP Financial Measures definitions in this presentation.

1 Excludes depreciation and amortization associated with acquisition-related fair value step-ups. 17

NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.

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*Please see the Non-GAAP Financial Measures definitions in this presentation.

1 Excludes depreciation and amortization associated with acquisition-related fair value step-ups.

NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO.

1 Represents cash paid for transaction related expenses.

*Please see the Non-GAAP Financial Measures tables in this presentation.

*The TTM Adjusted EBITDA includes Antares Vision for periods prior to the acquisition on March 31, 2026. Please refer to the Non-GAAP Financial Measures tables in prior quarter releases and in this presentation.

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