Crane NXT, Co. reported first quarter 2025 sales of $330.3 million, an increase of 5.3% compared to the first quarter of 2024. This growth was primarily driven by a $33.4 million sales benefit from the acquired OpSec Security business. Core sales, however, declined by 4.1% due to anticipated lower U.S. government sales related to a planned shutdown of papermaking equipment for the new U.S. banknote series.
Operating profit for the quarter was $37.3 million, a decrease from $55.4 million in the prior year, resulting in an operating profit margin of 11.3% compared to 17.7%. Adjusted operating profit margin decreased by 780 basis points to 14.9%. Cash used for operating activities was $19.1 million, compared to cash provided of $9.5 million in the prior year, primarily due to lower net income and higher working capital requirements.
Crane NXT updated its full-year 2025 guidance, increasing total net sales growth to a range of 6% to 8%, while maintaining its adjusted EPS guidance of $4.00 to $4.30. The outlook for the Security and Authentication Technologies (SAT) segment was raised to 19% to 21% growth, but the Crane Payment Innovations (CPI) segment's sales guidance was revised downwards to negative 2% to flat. The company also declared a quarterly dividend of $0.17 per share for the second quarter of 2025.
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