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 reported record third quarter sales of $551.7 million, a 20% increase from $459.0 million in Q3 2021. Operating income reached a record $80.0 million, growing 41% year-over-year. The company also announced a GAAP fully diluted EPS of $1.24, up from $0.98 in Q3 2021. Amid ongoing strong demand, they revised net sales guidance for FY 2022 to between $2.0 billion and $2.1 billion, with EPS guidance adjusted to $4.08 to $4.18.
Franklin Electric Co. (NASDAQ: FELE) declared a quarterly cash dividend of $0.195 per share, set for payment on November 17, 2022. Shareholders of record on November 3, 2022 will be eligible. Franklin Electric is recognized globally for its expertise in systems and components for moving water and fuel, serving various sectors including residential and industrial. The company's commitment to quality and innovation enhances its market leadership.
Franklin Electric Co. (NASDAQ: FELE) will announce its third quarter 2022 earnings on October 25, 2022, at 8:00 am ET, followed by a conference call at 9:00 am ET. The call will be accessible via a live webcast, offering detailed insights into the company’s performance and strategies.
Franklin Electric is renowned for its systems and components for water and fuel movement, catering to a diverse customer base including residential, commercial, and industrial sectors.
Franklin Electric Co., Inc. announced record second quarter 2022 results, with sales reaching $551.1 million, a 26% increase from the previous year. Operating income also hit a record at $81.0 million, up 57% year-over-year. GAAP fully diluted EPS reached $1.26, surpassing $0.83 from Q2 2021. The company updated its FY 2022 net sales guidance to between $2.00 billion and $2.15 billion and EPS expectations to $4.00 - $4.20.
The Water Systems, Distribution, and Fueling Systems segments all demonstrated strong organic sales growth.
Franklin Electric Co. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.195 per share, payable on August 18, 2022, to shareholders on record as of August 4, 2022. This dividend reflects Franklin Electric's commitment to returning value to its shareholders. As a prominent player in the water and fuel movement systems industry, the company serves diverse sectors including residential, commercial, and industrial markets.
Franklin Electric Co. (NASDAQ: FELE) is set to release its Q2 2022 earnings on July 26, 2022, at 8:00 AM ET, followed by a conference call at 9:00 AM ET to discuss the results. The call will be available via a live webcast. Interested participants can register for the Q&A session, which encourages early joining. The company, recognized as a leader in water and fuel movement systems, also provides cautionary notes regarding forward-looking statements and the associated risks impacting business performance.
Franklin Electric Co. has appointed Chris Villavarayan as a director, effective May 6, 2022. Villavarayan, previously the CEO of Meritor, brings extensive operational and manufacturing expertise. His background includes roles in overseeing global operations within Meritor's truck and industrial divisions. Franklin Electric anticipates that Villavarayan's leadership will enhance the board's deliberations. The company is recognized as a leader in water and fuel movement systems, serving various sectors globally.
Franklin Electric Co. reported a record first quarter in 2022 with sales reaching $451.5 million, a 36% increase from $333.0 million in Q1 2021. Operating income rose to $39.9 million, up 18% year-over-year. Earnings per share (EPS) hit a record $0.63, compared to $0.59 in 2021. All segments showed strong organic growth: Fueling Systems up 29%, Water Systems 27%, and Distribution 26%. Despite ongoing supply chain challenges, the company maintains its 2022 guidance for sales between $1.90 billion and $2.05 billion.
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