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.
Franklin Electric Co., Inc. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.225 per share, scheduled for payment on May 18, 2023, to shareholders on record as of May 4, 2023. This reflects the company's ongoing commitment to providing returns to its investors. As a global leader in producing and marketing systems for the movement of water and fuel, Franklin Electric serves various sectors including residential, commercial, agricultural, industrial, municipal, and fueling applications. The firm maintains a reputation for technical leadership in its industry, positioning itself strategically in the market.
Franklin Electric Co., Inc. (NASDAQ: FELE) is set to release its first quarter 2023 earnings on May 2, 2023, at 8:00 AM ET, followed by a conference call at 9:00 AM ET. The earnings call will be accessible via a live webcast, and interested participants can register for the Q&A session. A replay of the call will be available from May 2 to May 9, 2023. Franklin Electric specializes in systems and components for the movement of water and fuel, serving various sectors including residential, commercial, and industrial. The company’s forward-looking statements caution that actual results may diverge significantly from expectations due to factors like economic conditions, market demand, and regulatory changes.
Franklin Electric Co. (NASDAQ: FELE) has announced an additional 1,000,000 shares to its stock repurchase program, supplementing the 216,000 shares already authorized. This decision reflects the company's strong operational performance and robust financial standing, signaling the Board’s confidence in its business strategy and growth opportunities.
Franklin Electric is a leader in water and fuel systems, emphasizing its commitment to both profitable growth and returning capital to shareholders through dividends and share repurchases.
Franklin Electric reported fourth quarter 2022 sales of $489.4 million, a 13% increase from the previous year, achieving record operating income of $56.2 million (+19%). For the full year, sales reached $2.0 billion (+23%), with operating income at $257.2 million (+36%). Despite strong performance, GAAP EPS decreased slightly to $0.84 in Q4 and increased to a record $3.97 for the year (+22%). The Water Systems segment saw record sales of $281.3 million, while Distribution faced challenges with lower operating income due to weather impacts. Full year 2023 guidance anticipates sales between $2.1 billion and $2.2 billion.
Franklin Electric Co. (NASDAQ: FELE) will announce its fourth quarter and fiscal year 2022 earnings on February 14, 2023, at 8:00 AM ET. A conference call to discuss the results will follow at 9:00 AM ET, available via a live webcast. Registration is required for participants wishing to ask questions during the call. The event is set to provide insights into the company's business developments. Franklin Electric specializes in systems and components for water and fuel movement, serving various sectors globally. It holds a strong reputation for technical leadership in its offerings.
Franklin Electric Co. (NASDAQ: FELE) has announced a quarterly cash dividend of $0.225 per share, payable on February 16, 2023, to shareholders of record on February 2, 2023. This marks a significant 15% increase from the previous quarterly dividend and highlights the company's commitment to returning cash to shareholders. This increase will be the 31st consecutive year of dividend growth for Franklin Electric, reflecting confidence in its business outlook, according to CEO Gregg Sengstack.
Franklin Electric is recognized globally for its water and fuel movement systems and components.
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