Welcome to our dedicated page for Franklin Electric Co news (Ticker: FELE), a resource for investors and traders seeking the latest updates and insights on Franklin Electric Co stock.
Franklin Electric Co Inc (NASDAQ: FELE) is a global leader in the design, manufacture, and distribution of water and fuel pumping systems. Established in 1944 and headquartered in Fort Wayne, Indiana, Franklin Electric has expanded its reach to serve customers worldwide, providing essential solutions for a variety of applications including residential, commercial, agricultural, industrial, municipal, and fueling systems.
The company operates through three primary segments:
- Water Systems: This segment is dedicated to the design, manufacture, and sale of motors, pumps, drives, electronic controls, and monitoring devices. Its primary focus areas include groundwater, water transfer, and wastewater management. Recent achievements include the integration of Action Manufacturing & Supply, which strengthens its water treatment capabilities.
- Fueling Systems: The fueling systems segment designs and manufactures components essential for fueling applications. This includes pumps, pipes, sumps, fittings, vapor recovery components, and electronic controls. Despite market challenges, this segment continues to be a critical part of Franklin Electric’s operations, providing sophisticated solutions for fuel management.
- Distribution: This segment focuses on sales and pre-sale support to installing contractors. It has experienced some fluctuations due to weather conditions and market dynamics but continues to show resilience through strategic acquisitions like Water Works Pump, LLC, aimed at expanding their footprint in the Midwest.
Franklin Electric is also recognized for its commitment to corporate responsibility. It has earned accolades such as being listed in Newsweek’s America’s Most Responsible Companies and Most Trustworthy Companies for 2023, and USA Today’s America’s Climate Leaders 2023.
The company's financial health remains solid, with substantial cash flow improvements noted in their recent earnings reports. They have shown a consistent ability to adapt to market conditions, as evidenced by their recent acquisition strategies and technological advancements. Franklin Electric remains a steadfast provider of innovative and reliable solutions in water and fueling system industries, demonstrating a robust growth trajectory and a commitment to quality and customer satisfaction.
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Franklin Electric Co., Inc. reported fourth quarter 2023 net sales of $473.0 million, a 3% decrease from the prior year, with operating income at $50.8 million. Full year 2023 saw record net sales of $2.1 billion, a 1% increase over the prior year, with operating income at $262.4 million. The company achieved record cash flows from operating activities at $315.7 million. Water Systems and Distribution segments set new sales records, while Fueling Systems saw a decrease in sales.
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Franklin Electric Co., Inc. (NASDAQ: FELE) is set to release its fourth quarter and fiscal year 2023 earnings on February 13, 2024, followed by a conference call to discuss the results and business developments. The earnings call will be available via live webcast, with an option to participate in the Q&A portion. Registrants will receive dial-in information and a PIN for access. A replay of the conference call will be available for a week after the event.
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Franklin Electric Co., Inc. (FELE) has announced an 11 percent increase in its quarterly cash dividend to $0.25 per share, payable on February 15, 2024. This marks the 32nd consecutive year of dividend increases, reflecting the company's commitment to rewarding shareholders and confidence in the business outlook.
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Franklin Electric Co., Inc. (NASDAQ: FELE) announced the acquisition of Water Works Pump by its subsidiary, Headwater Companies, LLC. This strategic move marks Headwater's inaugural venture into the Missouri market, aligning with its goal of becoming the leading distributor of water systems solutions in the United States.
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Franklin Electric Co., Inc. (NASDAQ: FELE) has announced the acquisition of the assets of Action Manufacturing & Supply, Inc. by its subsidiary, Franklin Water Treatment, LLC. Action Manufacturing & Supply is a manufacturer and wholesale distributor of residential water conditioning, filtration, and indoor/outdoor aeration systems. The acquired business will be reported in the company’s Water Systems business segment. Franklin Water Treatment aims to expand its channels and products in key geographic areas for water treatment. The acquisition aligns with Franklin’s customer-driven approach to its businesses.
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Franklin Electric Co., Inc. reports third quarter financial results for fiscal year 2023. Net sales decreased by 2% to $538.4 million. Water Systems sales increased by 1%, while Fueling Systems and Distribution's net sales decreased 14% and 2% respectively. Operating income was $78.1 million with a solid operating margin of 14.5%. GAAP fully diluted EPS was $1.23. Year-to-date cash flows from operating activities increased $191.5 million over the prior year.
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Franklin Electric Co., Inc. declares a quarterly cash dividend of $0.225 per share.
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Franklin Electric Co., Inc. to release Q3 2023 earnings
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Franklin Electric Co., Inc. (FELE) reports Q2 2023 net sales of $569.1 million, a 3% increase over the prior year. Operating income was $80.9 million with a healthy operating margin of 14.2%. GAAP fully diluted EPS was $1.27, a new record. The company's Water Systems and Distribution sales saw increases, while Fueling Systems sales decreased. Franklin Electric is maintaining its guidance for full year 2023 sales to be in the range of $2.15 billion to $2.25 billion and full year 2023 EPS to be in the range of $4.25 to $4.45.
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Franklin Electric Co., Inc. (NASDAQ: FELE) declares a quarterly cash dividend of $0.225 per share, payable on August 17, 2023, to shareholders of record on August 3, 2023. The company is a global leader in water and fuel movement systems and components, serving various sectors. Franklin Electric is recognized for its technical leadership in products and services.
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FAQ
What is the current stock price of Franklin Electric Co (FELE)?
The current stock price of Franklin Electric Co (FELE) is $98.37 as of December 20, 2024.
What is the market cap of Franklin Electric Co (FELE)?
The market cap of Franklin Electric Co (FELE) is approximately 4.5B.
What does Franklin Electric Co Inc specialize in?
Franklin Electric specializes in the design, manufacture, and distribution of water and fuel pumping systems.
Where is Franklin Electric Co Inc headquartered?
Franklin Electric Co Inc is headquartered in Fort Wayne, Indiana.
What are the primary market segments Franklin Electric operates in?
Franklin Electric operates in three primary segments: Water Systems, Fueling Systems, and Distribution.
When was Franklin Electric Co Inc founded?
Franklin Electric Co Inc was founded in 1944.
What recent acquisitions has Franklin Electric made?
Recent acquisitions include Action Manufacturing & Supply and Water Works Pump, LLC.
What recognitions has Franklin Electric received for corporate responsibility?
Franklin Electric has been named in Newsweek’s America’s Most Responsible Companies and Most Trustworthy Companies for 2023, and America’s Climate Leaders 2023 by USA Today.
How does Franklin Electric support its distribution segment?
The Distribution segment provides sales and pre-sale support to installing contractors, ensuring they meet application challenges effectively.
What are some applications for Franklin Electric’s products?
Their products are used in residential, commercial, agricultural, industrial, municipal, and fueling applications.
How does Franklin Electric ensure quality in its water treatment segment?
Franklin Electric focuses on incorporating high-quality components and integrating reputable businesses like Action Manufacturing & Supply to enhance product offerings.
What financial performance trends were noted in Franklin Electric’s recent reports?
Franklin Electric reported improvements in cash flow from operations and a focused management of working capital, despite some fluctuations due to market conditions.
Franklin Electric Co Inc
Nasdaq:FELE
FELE Rankings
FELE Stock Data
4.49B
39.36M
13.85%
83.77%
1.44%
Specialty Industrial Machinery
Motors & Generators
United States of America
FORT WAYNE