Consolidated Sales Growth
Fourth quarter consolidated sales totaled $486 million, up 3% over the prior year period, driven by distribution and energy systems segments.
Energy Systems Segment Improvement
Energy systems segment saw a notable margin improvement in Q4, achieving a record operating margin for 2024 despite a challenging start to the year.
Strategic Acquisitions
Completed a strategic acquisition in Australia and signed an agreement for Barnes De Colombia, expected to add approximately $50 million in revenue for 2025.
Dividend Increase
Announced a 6% increase in the quarterly cash dividend, marking the 33rd consecutive year of dividend increases.
Strong Cash Flow
The company generated $261.4 million in net cash flows from operations activities during 2024, with a free cash flow conversion rate of 122%.