Crane Nxt (CXT) Q4 FY2021 earnings: revenue $770 million, up 12.7% on the year

Crane Nxt, Co. (CXT) reported revenue of $770 million for Q4 FY2021, the quarter ended 31 December 2021, up 12.7% on the same quarter a year earlier as this quarter's filing gives it. Net income was $72 million, up 53.7% on the year as this quarter's filing gives it, and diluted earnings per share $1.22. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue

$770 million

+12.7% on the year · -13.8% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

11.3%

7.9% a year earlier

Q1 FY2020Q4 FY2021

Net income

$72 million

+53.7% on the year · -38.2% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$1.22

+52.5% on the year · -37.8% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	770	894	684	-13.8%	+12.7%
Cost of revenue	482	n/a	n/a
Gross profit	288	n/a	n/a
Gross margin	37.4%	n/a	n/a
Selling, general and administrative	199	n/a	n/a
Operating income	87.1	145	53.9	-39.8%	+61.6%
Operating margin	11.3%	16.2%	7.9%
Interest expense	10.9	n/a	n/a
Pre-tax income	72.2	n/a	n/a
Income tax	9.7	n/a	n/a
Effective tax rate	13.4%	n/a	n/a
Net income	72.1	117	46.9	-38.2%	+53.7%
Net margin	9.4%	n/a	n/a
Diluted EPS	$1.22	$1.96	$0.80	-37.8%	+52.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	172	n/a	n/a
Capital expenditure	26.4	n/a	n/a
Free cash flow	145	n/a	n/a
Free cash flow margin	18.8%	n/a	n/a
Cash from investing	-26.9	n/a	n/a
Cash from financing	-117	n/a	n/a
Depreciation and amortisation	29.7	29.0	32.2	+2.4%	-7.8%
Share-based compensation	6.2	n/a	n/a
Buybacks	96.3	n/a	n/a
Dividends paid	25.1	n/a	n/a
Diluted shares, weighted	n/a	60m	n/a
Shares outstanding at period end	58m	59m	58m	-1.5%	-0.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	1,832	1,808	1,529	+1.4%	+19.8%
Non-controlling interest	2.8	n/a	n/a
Short-term borrowings	0.0	n/a	n/a
Debt	842	842	1,219	+0.0%	-30.9%
Operating lease liabilities	79.3	n/a	n/a
Other liabilities	1,730	n/a	n/a
Total liabilities and equity	4,487	n/a	n/a
Fixed assets	527	n/a	n/a
Goodwill	1,412	n/a	n/a
Intangible assets	466	n/a	n/a
Cash and equivalents	479	451	551	+6.2%	-13.1%
Receivables	472	n/a	n/a
Inventory	441	n/a	n/a
Other assets	689	n/a	n/a
Total assets	4,487	n/a	n/a

Questions

What was Crane Nxt's revenue in Q4 FY2021?

Crane Nxt (CXT) reported revenue of $770 million for Q4 FY2021, the quarter ended 31 December 2021, up 12.7% on the same quarter a year earlier as the company restated it.

How much did Crane Nxt earn in Q4 FY2021?

Net income for Q4 FY2021 was $72 million, up 53.7% on the year, and diluted earnings per share $1.22.

When did Crane Nxt report Q4 FY2021 results?

Crane Nxt filed its 10-K for the quarter ended 31 December 2021 with the SEC on 28 February 2022.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023	Q3 FY2023	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	770	872	334	335	1,834	n/a	352	353	357	314	371	404	399	330	404	445	477	388	493	497
Cost of revenue	482	526	183	175	540	174	184	187	191	161	210	232	219	190	236	252	275	232	285	299
Gross profit	288	345	151	160	1,294	668	168	166	166	152	161	171	180	140	169	193	202	156	209	198
Gross margin	37%	40%	45%	48%	71%	79%	48%	47%	46%	49%	43%	42%	45%	42%	42%	43%	42%	40%	42%	40%
SG&A	199	198	77.8	82.2	201	88.8	99.6	85.8	92.6	94.3	93.3	96.3	102	103	114	107	117	131	136	126
Operating income	87.1	147	73.4	78.0	143	65.9	68.8	79.7	72.4	55.4	67.6	75.0	70.8	37.3	47.9	81.9	79.6	22.2	68.9	65.7
Operating margin	11%	17%	22%	23%	8%	8%	20%	23%	20%	18%	18%	19%	18%	11%	12%	18%	17%	6%	14%	13%
Interest expense	10.9	11.1	11.4	13.5	16.2	17.0	n/a	n/a	n/a	9.9	12.4	13.4	n/a	11.5	16.4	16.2	n/a	17.8	21.0	19.9
Pre-tax income	72.2	140	61.5	64.4	115	54.6	55.9	67.9	61.4	46.7	55.4	63.3	61.0	28.1	32.8	66.6	53.5	9.2	47.9	49.2
Tax rate	13%	25%	21%	31%	6%	20%	23%	24%	19%	19%	25%	26%	6%	23%	24%	24%	11%	26%	24%	21%
Net income	72.1	49.5	48.8	44.6	97.2	43.7	43.2	51.9	49.5	37.8	41.6	47.1	57.6	21.7	24.9	50.5	48.0	6.4	35.4	38.4
Net margin	9%	6%	15%	13%	5%	5%	12%	15%	14%	12%	11%	12%	14%	7%	6%	11%	10%	2%	7%	8%
Diluted EPS	$1.22	$1.81	$0.86	$0.79	$1.72	$0.77	$0.75	$0.90	$0.86	$0.66	$0.72	$0.81	$1.00	$0.38	$0.43	$0.87	$0.83	$0.11	$0.61	$0.66
Operating cash flow	172	-55.5	104	-427	226	-70.8	166	103	78.5	9.5	56.8	66.7	81.1	-19.1	62.8	92.0	106	-14.0	86.7	112
Capital expenditure	26.4	13.0	12.7	11.6	21.6	4.0	n/a	7.6	15.0	12.5	8.9	13.2	10.8	13.1	7.0	13.3	9.8	10.1	13.3	21.6
Free cash flow	145	-68.5	91.8	-439	205	-74.8	n/a	95.2	63.5	-3.0	47.9	53.5	70.3	-32.2	55.8	78.7	96.0	-24.1	73.4	90.2
Buybacks	96.3	176	27.9	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	25.1	26.7	26.4	26.4	26.4	26.6	-18.7	7.9	7.9	9.1	9.2	9.1	9.2	9.7	9.8	9.7	9.8	10.3	10.4	10.4
Shares outstanding	58m	56m	56m	56m	56m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	58m	58m	58m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 28 February 2022: the filing.