Crane Holdings Co (NYSE:CR) stock rose 3.32% (As on January 24, 11:09:34 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 22. Core sales growth of $90 million, or 11%, was more than offset by a $58 million, or 7%, divestiture impact, and a $33 million, or 4%, impact from unfavorable foreign exchange. Core year-over-year order growth of 15% in the fourth quarter was partially offset by a 7% divestiture impact and a 5% impact from unfavorable foreign exchange. Total year-over-year backlog growth of 23% was driven by 28% core backlog growth, partially offset by a 4% impact from unfavorable foreign exchange and a 2% divestiture impact. Fourth quarter 2022 adjusted operating profit margin was 18.6%, compared to 12.0% last year, with the increase driven primarily by pricing actions, and to a lesser extent productivity and higher volumes.

CR in the fourth quarter of FY 22 has reported the adjusted earnings per share of $2.13, beating the analysts’ estimates for the adjusted earnings per share of $1.89, according to Zacks Investment Research. The company had reported the adjusted revenue of $824.1 million in the fourth quarter of FY 22, missing the analysts’ estimates for revenue of $825.5 million.

Moreover, Aerospace & Electronics’ sales was of $181 million increased $23 million, or 15%, compared to the prior year. GAAP operating profit margin of 19.8% compared to 13.1% last year, driven primarily by pricing actions, higher volumes, and productivity. Adjusted operating profit margin of 20.6% compared to 13.1% last year. Aerospace & Electronics’ core orders increased 45% in the quarter compared to the prior year, and its order backlog was $613 million as of December 31, 2022 compared to $592 million as of September 30, 2022, and $460 million as of December 31, 2021. Process Flow Technologies’ sales was of $252 million decreased $47 million, or 16%, driven by a $58 million, or 19%, impact from the divestiture of Crane Supply and a $14 million, or 5%, impact from unfavorable foreign exchange, partially offset by $25 million, or 8%, of core growth. Payment & Merchandising Technologies’ sales was of $338 million increased $25 million, or 8%, compared to the fourth quarter of 2021, driven by a $44 million, or 14%, increase in core sales, partially offset by a $19 million, or 6%, impact from unfavorable foreign exchange.