CXT - Earnings call transcript Q2 2024

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Operator

Good day, and thank you for standing by. Welcome to the Crane NXT Second Quarter 2024 Earnings Call. [Operator Instructions]. Please be advised that today's conference is being recorded. I will now like to hand the conference over to your speaker today, Christina Cristiano, Chief Financial Officer. ahead. go Please

Christina Cristiano

and you operator, Call everyone. want I Crane Thank to good the welcome all Earnings Second to NXT. you, morning, Quarter for XXXX

can will Before of section website. also at of during slides be begin, replay website via we A call we this Investor the our presentation today's be cranenxt.com. Relations available accessed the our reference will on

forward-looking explains legal results, and of Before all the Slide encourage of our use financial statements review I notice we the X, non-GAAP which discuss to listeners on risks the measures.

the Additionally, you Forms language refer pertaining of we bottom XX-Q our and release to to our cautionary in at statements. and the forward-looking filings earnings XX-K

in press which are During slide also which cranenxt.com using the of reconciled numbers, release presentation. we Investor the both our on non-GAAP be in will section. end of tables the and the Relations at GAAP accompanying our to at website call, numbers available are the comparable

With call call and me results, update today is acquisition the Officer. on prepared our XXXX After for remarks, the open morning, and provide questions. our will this On will we financial an guidance. OpSec analysts President discuss Executive Chief our we update to Aaron Saak, our our

let Now the to over Aaron. turn me call

Aaron Saak

We Christina, and call you, discuss quarter everyone to our today Thank second good appreciate morning. the joining XXXX results.

solid our Before to deliver this quarter. around this associates NXT thank world we the like their to I'd to performance begin, opportunity for efforts take

pleased operational integrating into Our of reaching increased million, acquisition progress $XXX the line the I'm of the second X% over with with our NXT. making performance performance quarter driven was prior the year, business and in very the with OpSec we're Sales by expectations. OpSec.

with positive. we've and past been our very the to many the customers Over acquisition has been months, of X response the meeting

opportunities the line improvement Business a when the with we We new acquisition. and to the funnel of ground running generate synergies fundamentals announced authentication the commercial we and technologies of System. portfolio achieving continuous hit sight online of identified started operational of clear physical to implementing our the market-leading have that We've and Crane

We means for executing most NXT that authenticate providing our continue what of trusted our to OpSec detect and secure, in solutions valuable technology very customers' about be it and excited Crane assets. strategy

Crane new quarter to QX, continued a In ending high win the Currency backlog. with orders record

with also We denominations existing with issuing new micro-optics expanded by XX share customers technology.

strong X%. for into the growth to timing raising shipments, full X% currency visibility backlog and of we're our core year to Given sales

in normalized core CPI growing Additionally, perform growth for Inventories and first gaming vertical CPI quarters. other the year-over-year have verticals the in mid-single digits. had as the sales within at expected, X time to continue

our active diversify of a outlook adjusted ratio gives Finally, us continue and our very approximately well with the guidance to ample portfolio to quarter our $X.XX. us to performance to capacity. M&A M&A confidence further EPS with $X.XX to we In summary, expand net X.Xx We ended narrow have positioning and year-to-date debt-to-EBITDA pipeline. and

portfolio improving where OpSec and productivity segment, strength customers markets, that existing Crane margins. of of X. performance CPI reportable our the continued in better align authenticate. the with the our Currency market-leading wins to of strategy technologies many The secure, our security includes seeing Moving In our that OpSec new of technologies we're to and this segments and segment acquisition we connection and detect end Slide In reflects authentication with consists vending, initiatives businesses. expanding are updated strong

wins with in several quarter, to new Additionally, our in acquire in business, revenue. expand and continue new we our recurring driving customers growth services the offerings

traveling President for leveraging Crane CPI. role, innovation system of acclimating CPI also sites to quickly is Michael meet him business Michael and excellence. around team. world operational our our associates. customers as I'm the in have happy Mahan and improvement the this us our responsible this on I'm Crane excited CPI to is accelerating growth joined quarter visiting continuous drive that the to new the driving Michael strategy, to In NXT, the

in will I'd company. like XXXX these leadership with after retiring many early Gallo joining, be As thank and mentioned XX for years announcement Kurt in Michael years. over to the her service of the personally his

excited of Overall, team about place. I'm incredibly we're Crane putting the the portfolio NXT, the and in we're leadership future building

to deliver We this are a drive on as targets hand over well operating as quarter execute the well XXXX on call of second our us financial financial more and our Christina continue our our position strength portfolio diversify from shareholder value. and performance to We're updated going strategy details track our year. further I'm to provide expand through as we now to to walk guidance. to

Christina Cristiano

again. morning our express good and Aaron, you, strong appreciation would quarter. I to also this their global execution like associates Thank for to

Slide Starting on X.

year-over-year, segment our Adjusted Aaron our the CapEx of banknote line the reflects reflecting driven core XX% at growth from we last approximately X%, OpSec quarter. discussed As acquisition impacted year-over-year. and mentioned, our Sales second grew product as were X% operating flow redesign results sales growth in CPI. of Adjusted OpSec program by and an quarter by with to was continued acquisition related higher expectations. cash security margin approximately in investments of unfavorable free mix dilution the U.S.

with $X.XX full Finally, track year puts our us on of adjusted guidance. EPS

second unfavorable segment end segments. core to all XX%, sales our lower across reflecting product in execution productivity X% sales due contracted of pricing gaming year-over-year mid-single-digit to outside margin of points offset operating basis by the partially markets strong reflecting initiatives. XXX growth gaming. reported CPI mix quarter, Moving growth to Adjusted and

new expected with on over now returned backlog stock. we has year. Gaming the of as down the markets, quarter the are inventory we and to our customers, to our normal are continue rest encouraged orders levels, draw from expect by the in which across customers to Looking for we performed seeing continuing gaming OEM

and digits. weighted verticals toward quarter. timing the of be markets in we expect gaming, of new remainder to orders, end year anticipated, CPI more revenue the slightly are gaming of the growing backlog we the non-gaming Outside to year to mid-single continue fourth other our revenue as our for the on full expect be the in growth and Based

Moving to Security segment Sales cycle. production margin U.S. which for the core higher notes was equipment OpSec X. quarter, offset preparation by of as Adjusted denomination from acquisition reflecting mix international the U.S. the on were Slide OpSec operating sales XX% more in impacted currency unfavorable slightly the shipments. Authentication and volumes, timing to sales grew up and lower with lower Technologies next in reflecting the upgrade acquisition related dilution in of XX%,

to quarter we XXXX. U.S. U.S. technology As our the some a took during for equipment designs making the and accommodate series new that of upgrades paper commences this banknote off-line for year, the reminder, first in

well, The went upgrade on first very cycle we schedule. resumed production and

beginning cycle quarter will into fourth year, We the in will the continue of first quarter of have which upgrade this XXXX. another

track OpSec's performance we full are in we quarter. year achieve last the communicated quarter on targets to was the expected, as and

As we proven we and processes. to business XXXX and drive look productivity expansion improvements ahead system chain continue to OpSec supply significant using in see to our beyond, margin opportunities Crane at for manufacturing

our we and Overall, full very in have authentication high technologies. year projections security for confidence

is prior X%. year-over-year of X% from expect approximately backlog growth core range currency X%, our XX% now international to up and sales we X% Our up of currency to

fourth of the in quarter. shipments high quarter have and the revenue visibility be third slightly segment expect our versus to timing into Looking we the ahead, higher

X.Xx the additional Slide on of quarter, second OpSec on our X. net borrowings at leverage acquisition. our was to to ratio balance end Moving our fund the sheet revolver approximately the reflecting

debt maintaining Our organic investing strategic on substantial while growth and paying generation allows in flexibility continue us down cash capital deploy future to free flow for to focus to M&A.

Based $X.XX X. our our guidance Turning performance outlook, are $X.XX. Slide adjusted confidence to guidance our of range quarter EPS XXXX a and in to to narrowing the on on our we in

backlog, growth our of currency strong currency to we addition, remains X% expect The sales guidance rest given unchanged. of now In X%. our core

closing to remarks. the turn me back let call Now for Aaron

Aaron Saak

we our another Christina. midpoint conclusion, with performance, on EPS strategy throughout continued delivered quarter, Thanks, the our raised our in guidance, we Based and our of year the line full our confident executing adjusted we're second in quarter and outlook. expectations. strong In

will to long-term I'm building and the of years. vision billion believe to growing unchanged, our portfolio. we our NXT X shareholder Crane we'll remain next confident focus, CBS We're this pipeline With and through strong productivity driving diversify $X value. Our and strategic the achieve expand businesses, in investing they priorities a in M&A over core create revenue

customers that, thank I'd like our And morning. for to we're with thank associates our of for that, our operator, ready all stakeholders. your their So take our to world and time this delivering like question. to to first you also, value the again, commitment to With around I'd

Operator

[Operator first Summerville Matt the from Our question of will from Davidson. D.A. come line Instructions]

Matt Summerville

in me to level. well business. the thing a talk record function there the major currency quarter the year's about most backlog was last stuck the of Maybe that beyond first, the that -- let's step up I took probably mean, the side beyond

you maybe -- on market Christina Can And early is of of does what this bit, How versus that versus little the market business? denominational in an Aaron, much that mean as of to share new the visibility a introductions? drivers talk in and timing terms early there. to read 'XX

Aaron Saak

X% encouraged I here very Well, for us market. real raise gives We're in currency market, in us the it right. answer the of X%. To a there's for That's That's backlog sight, and Yes. the really the change cadence line here fundamental your of question, on think I confidence to gave helpful. Well, the by guidance you're in think understanding the us timing 'XX. and thanks terms Matt. half. really of sales up second the what to question don't in

And in technology. tendering. lumpy it's we with know in terms You the feel confident positioning of market-leading very our

in tenders continuation and as I well, And in, a know see multiple think some of as just Matt, years. this for of that's is market. what the also you these you reflected the strength backlog. And in they're our come So

move to visibility months. tenders very in to our backlog we for to While in of some backlog, stay going good we X are the as XX have production. those

So that's a again, what led to visibility a of the sales for raise lot and of half it, second the year, the guidance. of to of our lot confidence

to at it's time. about 'XX talk think I this in point probably premature

Matt Summerville

go to over then CPI And a for moment. maybe

didn't performance business detail touch want four seeing maybe in sort you about curious and You to directionally I the main period of as and year, one definitely kind sort guidance mid-single strategy. that their the major a least maybe against range outlook of tighten OEMs are up the to business verticals, the retail more where there. what that in manufacturing the some on for of on the of little goes which during is their of digits at shifting noting you're talking

or have would be helpful. how you So not CXT, that impacts any perspective may that on

Aaron Saak

have we Yes. Christina burn of our again, continued down expected in QX our our very Sure, as positions the sight line mentioned, at Matt. performed good customers. just Well, as inventory to Gaming again, the backlog. of from CPI, various perspective. And

a Let to then me to retail, take moment talk talk markets. the I'll hand end about about Christina just and other over to it

saw growth strongly us, which implement we still And driven is through For more the in the in own of their to labor retail, first very drive and actually trends efficiency long-term by for place, for macro believe and the retailers productivity. we retailers half year. the automation scarcity

So we think that's unchanged.

know, the I also believe but you channels. with announcements that OEM self-checkout. given to others, we an I in includes two channel, Now That you're NCR retailers know direct like just into their of a some market reminder, custom and go the really names to, retail as through to alluding Matt,

in channel, we some the we OEM of seen to have So slowdown continue. first part there the and expect of a in softness XXXX, terms

investment really it For doing factors. at configuring as away that's custom their looking themselves. And as and the are from retailers scope form more standardized they're and continued side been on customization though, we've systems of the market the us, seen offset differently own moving

half So that's again, a channel We long-term the that's in globally. place, we've year. are trends different first growth markets, in those seen you in but put we think playing two and the mix when the the see balance, do in of out

it to you talk other So hand verticals. the maybe Christina, that, about I'll to with

Christina Cristiano

saw we continue. Aaron There's at rate. highlight Yes. in strength and that well, earlier, our gaming, to in which And just been mid-single me, as very high Aaron. which also attach growing performed business, consistently perform excuse we expect outside has other verticals particular well Thanks, and continues gaming to a the COVID. -- vending, since said of recurring services revenue driving And I'll digits,

impact overall, some higher from in the not we we're Now more by what of were QX encouraged orders on communicated. gaming, that's in be the of But a we an we we previously range change to to year. full OEMs, QX but phasing and and in our the saw that expect a a expecting, impact same significant slightly CPI

unchanged what overall we and encouraged sales adjusted. we're QX, that's the we appropriately we've prudent left CPI, while guidance believe risk saw in and by So for

Operator

from question next from will of line the come CJS Our Bob Labick Securities.

Bob Labick

-- process. Give bad. you then seen this in to a some little. where customer started dig integration surprises cost reactions us the revenue sense or stand synergies, looking both Maybe Maybe we for in integration. and So of on Any OpSec ahead? little good you the more a alluded synergies color you could opportunities and you've on a

Aaron Saak

Yes. Thanks, Bob.

strong for customers. acquisition. $XX remarks, positive $X our said track that XXXX. to as integration I And in prepared we're just the As range it's response performing the in on is revenue encouraged and ] the from had I'd my going [ And planned. very we've with million reiterate We're to

post phase, opportunities Now new for that to micro share we're with meeting the building also with acquisition in funnel optics. of in wins both really of wallet days expansion customers, out XXX it, but call

a And and cycle in sales their go anywhere and and that, X update from to through qualification then launch designs reminder have XX as process. just a go customers is that months to

we as disciplined So CBS some core excitement. healthy a such operating as . And going side, of planned lot again, announced it's is the And process. I on to part more ahead, say I operational our would quarters think of wins. in just a the with come

of we thesis. We to in our resources many actions and and part Offset, of of had investment implement the line sight starting are heavily deploying as involved that training to

feel again, we confident of there, to going So synergies million the line very confident of promised we're get by the sight XXXX I in and $X to Bob.

Bob Labick

appreciate But food upsetting more. et pharma, color. in earlier. many Obviously, I in and comments sticking bunch and Super. others end of kind media, services, M&A financial cetera. your sports they're with industrial, that consumer, Okay. And then markets, authentication. there's of beverage a

should so the And the and of M&A markets, other OpSec about How how with are that relates that part expansions? it already you as focus? M&A what future organic will those Or to fit? is think we have

Aaron Saak

Yes, Bob.

thinking think it. exactly is about the about thinking how you're right I we're this way

different bolt-ons opportunities a core and a our how in on into thinking this Our our we're $X OpSec. large that's with the all M&A reiterate, focus whether it's we the as for dynamics and about to But is focus integrate digit here, we the and immediate as these both successfully is it. pharma to is, cultivate. very operate funnel to said, of see growth name, opportunities. to plus, That of as have that to focus just continuing strong just a again, team. which We're And at us exposure governments. gives your process very, positive mid-single confident new exited few with the disciplined of enhancing with continue well we markets, I security M&A. you quarter we of a X.X vertical of this to want TAM, very sitting around that see fragmented mid-single-digit space. the consumer billion really technology feel as comments We authentication I And that leverage ample capacity. think

is exactly that's of a good So to we again, acquisitions position doing part very one to said a And feel, with our take going funnel we do action, we're were year. confident to where two focused. again, M&A we in what

Operator

UBS. from come question Damian next will the of Karas from line Our

Damian Karas

I sales especially And perhaps through second quarter order what It's wondering everyone. sense in low basis maybe looking dollar CPI and if into you if at some the maybe morning, the guess and run been something about a market like Good I'm sound to of coming looked if could that the has a you've and like? kind in Does the of right? CPI. nice give for progression of you the maybe could to was orders us outperforming kind backlog the July. quantify numbers just the million. $XXX rate second of the hear on the I'm segment of trends, in quarter I

Aaron Saak

levels. to orders it back if And with But we we have to Again, normal we of see gotten excuse OEMs I ordering. returned has again to Damian. of skewed about to the question, in we're line thinking as right fluctuations what sight close your backlog the this backlog that always have quarter-to-quarter. continuing some that think where it's CPI, gaming, mentioned, to to to visibility some normalized. with where the line of about in the And the levels of year, QX. we geography given you're zone say there, into expected There's are right? the exactly would think inventory in Again, feels to gaming, to the their Christina or going I me, entire think slightly progress rest of in the we now -- be

you're think way thinking correct. about the directionally I that So is

Damian Karas

so the Is be early the That's business. XQ kind Okay. of kind to equipment the the international I the that just kind And denomination of thinking next going last of the year And the presuming in quarter the equipment and about to and that's in for of ask that's new like design, of on drive to the I'm a upgrade then activity into project start and upgrade kind U.S., happen going it's quarter. of next helpful. pickup high business, new improvement sequential some third wanted then kind in then fourth then U.S. of to year. later currency the like watermarks sort for that going -- then the the

thinking make that kind right of we're sure to the want way. Just about

Aaron Saak

part second of Why to part, for your hand first question. and I the take I'll over the don't Christina Yes. it

the a confidence given the year. lot Again, sight schedule. the shipment the the the line and phasing for And why just revenue of raise So sales this build of backlog currency as second to think have the us that's of confidence of has in of half we to forecast. we about

you see request think what think just And slightly than that's in customer it's ship QX about just again, terms in be we going phasing, the to revenue. I of when terms of QX in in dates. higher

So again, a level high that. pretty on of confidence

As it let comment. as the kind of upgrade the we forward, cycle U.S. Christina, to go I'll and relates phasing you

Christina Cristiano

Yes.

entire we're in that Just And guidance and planned. as cycle of into for to new will expectations year. with our the QX that the off start series. program question, last is supports And next was continue and aligned that one, this answer with specific to the target so QX kick year on and the full track it our

change coming stop, from it's no So as factored production that already in.

Aaron Saak

just I'd Damian, add, announcements. new the design and XXXX beyond on the series

the said, allow and those those the Obviously, them, have always feel relationship BEP phasing but we've likely announcements new currency. very As we good our the to with to design in the we of on be very, make actual treasury they'll 'XX and making announcements. about

Operator

from Our question next of will Markets. the Northland from come Bobby Capital Brooks line

Robert Brooks

competitor continued question, we get first seen to market of more both specifically a that trends gave guys stay granular. leadership on there and on vending gaming, kind just share bit a color in of a strong. you've and My on within double-click you if in just normalization that But position the of Obviously, is -- your certification. some market key curious a kind given I'm those regaining little could little share CPI bit -- have

curious that that so what segment ago? and about shift year maybe So me CPI that's just but maybe those down seen seeing share is versus market a a just kind compare in you've and by were of share within of trends now the to of there, contrast maybe kind within breaking you way market CPI. just help And best like maybe But normalization. that more I'm it shows

Aaron Saak

thanks Yes. question, Well, that Bobby. for

vertical sense, it does go by of vertical we'll for I think kind make you.

over in struggled. So that our the maybe a more enhanced of And be maintained really we choice. we've position in back market provider of the go a years to had few than competitors I'll gaming, And share. continue year. believe as the fantastic that past one We was

that casinos with our feel the again, into those products and that visibility OEMs products, buy specify high we So very major good.

of share we out those a vertical shift market necessarily of there's other are than we've maintained leader to continue how going with and in occurred to sight be say think orders for play the wouldn't that's I year. the the gaming rest good So the to line

factor If micro that machines, convenience I that not of We're type equipment. perspective our and as define payment TAM. don't in services retail with about again, really from go along an and telemetry include come broadly that piece vending talking vending example, form the we and to market of vending, we remote markets, machines our in is that

maintained market, back very coming a that inside new see again, believe that robust it continue had to in off these we've introduce we lows. We we've market. Again, So growing COVID and share always that have offering, but in good United in dry the features, growing cold that in strong coffee, implemented very both in vending, we where here Europe vending in a States. particularly and also we see more

from how this So we define where play we feel market win, to we expect and very we how good. and

other verticals. pause maybe So take want there, you Christina, the I'll to if

Christina Cristiano

Yes, spoke sure. retail mean, about bit earlier. a Well, I little you

And so into dive year. to I that say deeply know But need more that. off start to I'll good this much a we we're too don't

half with that and either third-party we're integrators related doing well, custom projects customers. of retail working with first compared is our year. last to that's directly or as to the largely The year directly very

overall, seeing which several solid growth delayed and we're we our start. projects strong, Again, so a growing for the expecting off And services mid-single full year, that's coming as verticals expect supports there. the through, had were And the digits wins to and last has just that well. that mid-single-digit been good in new now very business, at to continue of some quarter, year,

Robert Brooks

to up view. more a earlier from at it Matt's question and of looking kind follow on so I just want And then just -- back sequential

was that? backlog $XXX-plus from you international out Security -- high. any ownership being any was just just about that since And Authentication in into have know won if I flesh then for million maybe what that. or there guys business the currency new was million ones talked you interesting acquired Could sequential And from backlog. $XXX you maybe then had OpSec. -- increase mix backlog, step-up any product the from mixed and at you So that much sequential in that authentication or OpSec a benefit how it guys record of taking

Christina Cristiano

Bobby. by great has Yes. team, first, our sales where the I'll us market, execution And year. in say for currency and just we to to I'll currency guidance one, the our led for that continue currency win full take that increase international

of backlog, And terms the to current disclosures. the In currency. of breakdown the majority of it international of is part our related it's

So is the the OpSec million at quarter. end $XX backlog see you the approximately of of

as quarter, through begin we this really This that's 'XX shipping some of inflation going And the stay Aaron that -- several now inflates XXXX. year. earlier, said year. had last which into the driver the But and orders, over of multiyear in the backlog new primary backlog will

So our targets. overall, confidence again, the high backlog the strength year . full in in us gives

Robert Brooks

clarifying question. one And just then it. Got

In prepared XX guys So XX issued winning you new I I mentioned, denominations XX think the a about year. you've year. this talk new know remarks, to denominations international micro-optic Aaron

new that international far something denomination clarify, to thus how Or different? have number? this different, you And Is wanted just I that So that is if it's wins denomination wins? XX something many year? is gotten international

Aaron Saak

Thanks, Bobby. Yes.

being encouraged considered in by overall, that new Let funnel in we would the me design say remain year-to-date clarify the and of micro progress the I also very Well, optics we currencies. for wins both that. have

previously went puts I first denominations half, target X The we've actually think, were very quarter. that they're not That on. going well for what now production the the year-to-date, our XX production we but through in on but us, XX new new in had denominations of won, see we've this into five funnel. So to XX, given track into only won, the

So just that more a definition. to little provide on nuance

Operator

from question next of from come Ian our Zaffino the line Oppenheimer. will And

Isaac Sellhausen

Sellhausen This is for Ian. Isaac on

I just follow-up think OpSec. answered have point, a on at most this been but

I year. think you've to to noted set accretive earnings be previously OpSec next

that timing heading details could profitability between to year? into provide in further of of some the If currency you're the you maybe able and just next the -- business of sort OpSec core and on cadence margins

Aaron Saak

Sure.

it don't starting in So we time. I want I to be reiterated, to you think, as would start guidance year. point at did accretive Isaac, talk XXXX Obviously, about say this next

key performing for So the been and think that. But we start we've for is going 'XX. very accretive I EPS will that a is the to integration that high, of see and next how will synergies impact. just our will we XXXX the that thesis business, confidence XXX message encouraged level already the the going. I guidance. growth of days we of that's that that's here defer to years, the or Part those first the thesis as business part in walk again, the of the we And to the driven do XXs that drive over both synergies by And and from few EBITDA line the that sight to in big investment of that up adjusted is But mid-teens margins the but I ask, see. cover our in we'll is us

Isaac Sellhausen

on and the of that target? reach feel follow-up in be you're core a by capital? then markets environment a good-sized large adjacent liquidity, to long-term the on And that to you funded do targeting enough as have Or as as M&A, get then you that deal sort you're additional would far just firepower And or Understood. comment could what done? seeing Okay. you anything

Aaron Saak

just I few perspective. market, in Well, from from terms unchanged the the last would quarters our say of largely it's Yes.

funnel. healthy a have We

in we can company we've past, the a get to reviewing starts hallmark the going valuation how at key disciplined feel And and launched with again, we we do to be the I we about OpSec will the the track executed like and with like market, to it. ROIC. as I very year, executed sure time the the that themes on the is same in M&A in company. we approach to confident continue cultivate making our that's the We two right one it. prosecute the acquisitions with in All which said calendar think put, we're a double-digit every very Simply

in revenue. range I feels those X.Xx. we're million for call a We want to $XXX looking million be And liquidity deals. deals have Again, it, think power to $XXX to, compounder. good think we of at me, we that fire ample

to want and we keep So this a up on continuous pragmatic basis.

and continuation can what is deals the so M&A get rigor, would in CBS the that's you'll be from envision drive us drive our And we return shareholders. flow our hands I for discipline around, of a seeing generate

would equity through other flow than doing no cash not that or paying free I own so leverage And see any exotic and means. more anything our other

Operator

more turn queue. any the it would now like back any questions I to remarks. showing for closing Aaron in not Saak I'm to

Aaron Saak

All Well, solid operator. us our It them. starts adjusted it another hard I'd dedication all very serving for their work, for very and the and focus joined to everyone of for with performance guidance We associates thank who their you like that our their Thank your Crane much it year. narrow I confidence people. our thank evident call questions. like Also, gave on especially QX our to NXT, appreciate and customers. And was today QX in full the right. was to much, EPS for

this and of So I hope thank you all your time have your a great you morning. week, for rest

Operator

the today's Thank This you conference. participation conclude for your does program. in

a day. You have may great now disconnect. Everyone,

Crane NXT (CXT) 8 Aug 242024 Q2 Earnings call transcript