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CXT NYSE· Crane NXT Co
Earnings report Q3 2023

CXT Reports 5.3% Increase in Net Sales in Q3 2023

Segments of revenue

In the third quarter of 2023, CXT reported net sales of $352.9 million, representing a 5.3% increase compared to the same period in 2022. The company's revenue growth was driven by favorable pricing, which more than offset a slight decline in core sales.

Strengths

CXT demonstrated strength in its revenue performance with a 5.3% increase in net sales. The company's favorable pricing strategy contributed to this growth, offsetting the slight decline in core sales. Additionally, CXT highlighted the positive impact of favorable foreign currency translation, which added $1.1 million to net sales.

Challenges

While CXT experienced overall revenue growth, there was a slight decline in core sales. This indicates potential challenges in the company's ability to generate consistent organic growth. Additionally, CXT reported a 7.1% increase in cost of sales, which may have impacted profitability.

Noteworthy

CXT's net sales growth in the third quarter of 2023 was driven by favorable pricing and favorable foreign currency translation. The company's core sales declined slightly, but this was offset by other factors contributing to overall revenue growth.

Summary

CXT reported a 5.3% increase in net sales in the third quarter of 2023, driven by favorable pricing and favorable foreign currency translation. While core sales declined slightly, the company's overall revenue performance was positive. However, CXT should address challenges in generating consistent organic growth and manage cost of sales to ensure sustained profitability.

Source documents

Form 10-Q  filed on Nov 06, 2023
91 pages scanned

Reference data

Company financials Q3 revenue 357M
Analyst estimates Q3 EPS beat by 6.31%
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