5/7/2026

speaker
Operator
Conference Operator

Good day and thank you for standing by. Welcome to the Crane NXT Q1 2026 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Matt Roach, Vice President of Investor Relations. Please go ahead.

speaker
Matt Roach
Vice President of Investor Relations

Thank you, operator, and good morning, everyone. I want to welcome you all to the first quarter of 2026 earnings call for Crane NXT. Before we begin, let me remind you that slides we'll reference during this presentation can be accessed via the investor relations section of our website at craneNXT.com, and a replay of today's call will also be available on our website. Before we discuss our results, I encourage all participants to review the legal notice on slide two, which explains the risk of forward-looking statements and the use of non-GAAP financial measures. Additionally, we refer you to the cautionary language at the bottom of our earnings release in our Form 10-K and subsequent filings pertaining to forward-looking statements. During the call, we'll also be using non-GAAP financial measures, which are reconciled to the comparable GAAP measures in the tables at the end of our press release and accompanying slide presentation both of which are available on our website at createNXT.com in the investor relations section. With me today are Aaron Sake, our President and Chief Executive Officer, and Cristina Cristiano, our Senior Vice President and Chief Financial Officer. On our call this morning, we'll discuss our first quarter highlights, the early completion of the entire ReadsVision acquisition, our financial and operational performance, and our updated 2026 financial guidance. After our prepared remarks, We'll open the call for questions. With that, I'll turn the call over to Aaron.

speaker
Aaron Sake
President and Chief Executive Officer

Thank you, Matt, and good morning. I appreciate everyone joining the call today to discuss our first quarter results. I'd like to start by thanking our Crane NXT team members around the world for their strong performance, which helped us begin the year with solid momentum. Starting on slide three, in Q1, we delivered on our three value creation priorities of accelerating organic growth, building on our leadership positions, and driving operational excellence through CBS. In the quarter, we had organic sales growth of approximately 6%, with total sales growth of approximately 17% year over year. Also in the first quarter, we further built on our leadership positions, successfully completing the acquisition of Antares Vision ahead of schedule. I would like to extend a special welcome to our new team members from Antares Vision and And we're excited to have you part of the Crane NXT team. Finally, through our focus on continuous improvement, we increased adjusted EBITDA margin by 80 basis points, a 22% improvement over the prior year. In summary, I'm pleased with our start to the year and delivering on our value creation priorities. Moving to slide four. I'd like to provide an overview of Antares Vision and why we're so excited by the technology and expanded in-markets it brings to the company. At the end of March, we successfully completed all key milestones related to closing the transaction, which was ahead of our original schedule. Now, as part of Crane NXT, Antares Vision meaningfully expands our reach into the $3 billion life sciences and food and beverage in-markets and further positions Crane NXT as a global leader in authentication and traceability technologies. As shown on this slide, Antares Vision provides advanced detection and inspection equipment, field and remote services, and track and trace software that ensures the quality and traceability of products from manufacturing through distribution to consumers. Its core end markets are life sciences and food and beverage, with sales primarily coming from the Americas and Western Europe and a growing list of customers in emerging markets. With the transaction now complete, our focus is on executing our integration and synergy plans. Moving to slide five, with the addition of Antares Vision, we've successfully built on our core positions and created an integrated and differentiated portfolio, providing customers a full suite of authentication and traceability technologies. These include proprietary security features applied to physical products, the ability to track and trace those products through the supply chain, detection and inspection equipment to authenticate products and ensure their quality, a field service organization for commissioning and maintenance of the equipment, and unique capabilities to bring these solutions to governments around the world. These technologies and operational capabilities are a key differentiator allowing us to truly be a trusted partner to our customers and their consumers. Moving to slide six, Antares Vision now sits alongside our CPI business in our newly established Detection and Traceability Technology segment, or DTT. We see clear and actionable opportunities for operational synergies between Antares Vision and CPI, as both businesses are centered on equipment manufacturing advanced detection system design, and field services. We are confident we can realize these synergies leveraging our established integration and operational improvement playbook through the crane business system. DTT is also highly complementary to our existing security and authentication technology segment, or SAT. Put simply, DTT focuses on ensuring product quality, authenticity, and traceability across global supply chains. And SAT is focused on helping to prevent the counterfeiting of products and identities through our proprietary security technologies. Together, both segments position Crane NXT as a differentiated global leader across the full authentication and traceability value chain. Now, with that, let me hand the call over to Christina to review our first quarter performance in more detail and our updated guidance.

Disclaimer

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Investor presentation