One of the most mission-critical jobs it performs will see quite the boost next year, it said.
On a mildly down day for many stocks, industrial tech company Crane NXT (CXT 14.75%) was quite a standout in Tuesday trading. On the back of a notable increase in guidance for a key business activity, investors assertively bought into the company’s stock to send it to a 15% gain. That contrasted positively with the fate of the S&P 500 index; the bellwether equity gauge sank by 0.6%.
A license to print money
Before the start of the day’s trading session, Crane NXT said that its U.S. currency printing activity should ramp up considerably next year.
Image source: Getty Images.
Specifically, it anticipates this alone will rise at high-single-digit rates in 2026 compared to this year. It’s basing this forecast on a print order recently published by the Federal Reserve. All told, the Fed is calling for 3.8 billion to 5.1 billion banknotes in total. The dollar amount of this order ranges from just under $109 billion to nearly $140 billion.
In its press release announcing the new 2026 currency printing guidance, Crane NXT quoted CEO Aaron Saak as saying that “The expected growth in the U.S. currency business and the continued strong performance in international markets gives us high confidence that Crane Currency is on-track for a successful 2026.“
More forecasts coming
Saak added that Crane NXT would provide further updates about its 2026 guidance in the conference call disseminating third-quarter results. He did not specify whether this would include estimates for revenue, profitability, or any other key fundamental metric.
The conference call has not yet been scheduled, but judging by the timing of the second-quarter discussion, it should occur in early November.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.