By Connor Hart

Crane posted higher profit and revenue in the fourth quarter boosted by strong demand across its aerospace and electronics unit.

The Stamford, Conn., industrial-products manufacturer on Monday reported a profit from continuing operations of $70.3 million, or $1.20 a share, compared with $43.6 million, or 76 cents a share, in last year's comparable quarter.

Adjusted earnings from continuing operations came in at $1.26, ahead of the $1.20 a share that analysts had forecast, according to FactSet.

Revenue increased 12% to $544.1 million. Analysts surveyed by FactSet were expecting $533.9 million.

The company's process flow technologies unit posted sales of $307 million, up 13% from last year, while its aerospace and electronics segment notches sales of $237 million, an 11% increase.

Results from the recent quarter and prior periods have been recast with the company's engineered materials unit as presented as discontinued operations, it said, following the sale of the unit to the private equity firm KPS Capital Partners earlier this month.

Chairman and Chief Executive Max Mitchell said the macro backdrop remains largely unchanged going into 2025.

"Demand trends remain strong within aerospace and electronics," Mitchell said. "We continue to outperform in process flow technologies even as industrial demand signals remain mixed, giving us confidence as we start 2025."

For the year, Crane guided for adjusted per-share earnings between $5.30 and $5.60, the midpoint of which is slightly below the $5.53 that analysts surveyed by FactSet are expecting.

The company also on Monday raised its dividend 12%, to 23 cents from 20.5 cents. The new payout, equal to 92 cents a year, represents an annual yield of about 0.6% based on Monday's closing price of $156.44.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 27, 2025 16:44 ET (21:44 GMT)

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