Strong Financial Performance
Adjusted EPS for Q4 was $1.26, driven by 8% core sales growth. Full-year adjusted EPS was $4.88, up 28% over 2023. Sales increased by 14% for 2024, with an 8% core growth and a 6% contribution from acquisitions.
Successful Divestiture and Portfolio Focus
Completion of the divestiture of the Engineered Materials segment, enabling focus on strategic growth platforms: Aerospace & Electronics and Process Flow Technologies.
Aerospace & Electronics Growth
The segment saw a 23% increase in backlog. Total orders for the F-16 brake control upgrade project reached $44 million, with a potential total life of program sales between $150 million to $200 million.
Process Flow Technologies Performance
Secured sizable orders, including a large fertilizer project in the Middle East and orders related to a facility expansion for a large chemical customer in North America.
Dividend Increase
A 12% increase in dividends was announced, reflecting confidence in future performance.