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. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.195 per share, set to be paid on May 19, 2022. Shareholders on record as of May 5, 2022 will qualify for this dividend. The company excels in producing systems and components for moving water and fuel, catering to diverse sectors including residential, commercial, agricultural, and industrial markets worldwide.
Franklin Electric Co., Inc. (NASDAQ: FELE) is set to announce its first quarter 2022 earnings on April 26, 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. Interested parties can dial in for questions using provided domestic and international numbers. A replay of the call will be available from April 26 at noon ET until May 3, 2022. Franklin Electric specializes in water and fuel movement systems, serving various markets worldwide.
Franklin Electric Co. reported record fourth quarter sales of $432.5 million, up 35% from $321.1 million a year earlier. Operating income rose 37% to $47.2 million, with GAAP EPS of $0.85, a new record. Full year 2021 sales reached $1.6619 billion, up 33%, with operating income at $189.2 million, up 45%. GAAP EPS for 2021 was $3.25, a 52% increase from 2020. The company achieved strong growth across all segments, driven by acquisitions and market demand despite supply chain challenges.
Franklin Electric Co., Inc. (NASDAQ: FELE) is set to release its fourth quarter and fiscal year 2021 earnings on February 15, 2022, at 8:00 am ET. This will be followed by a conference call at 9:00 am ET to discuss earnings and related developments, accessible via a live webcast. Franklin Electric is a leader in water and fuel movement systems serving various sectors globally. The company cautions that its forward-looking statements are subject to various risks and uncertainties that may impact actual results.
On January 24, 2022, Franklin Electric Co. (NASDAQ: FELE) announced a quarterly cash dividend of $0.195 per share, payable on February 17, 2022, to shareholders of record by February 3, 2022. This marks an 11% increase from the previous quarter’s dividend and signifies the 30th consecutive year of dividend growth for the company. This dividend increase reflects Franklin Electric's ongoing commitment to returning cash to its shareholders and underscores confidence in the company's future outlook.
Franklin Electric Co. (NASDAQ: FELE) has announced the acquisition of Blake Group Holdings for $27.1 million in cash, finalized on December 31, 2021. Blake, a key player in the groundwater distribution sector with approximately $74 million in annual sales, operates 14 locations in the northeastern U.S. DeLancey Davis, President of Headwater Companies, emphasized that this acquisition enhances their presence in the New York and New England markets, aligning with their goal to lead in water systems distribution.
Franklin Electric reported record third quarter 2021 sales of $459.0 million, a 31% increase from $351.2 million in 2020. Operating income rose to $56.6 million, up 17% year-over-year. The GAAP EPS reached a record $0.98, compared to $0.82 in 2020. All three business segments showed strong organic growth: Distribution at 30%, Fueling Systems at 18%, and Water Systems at 11%. The company raised its full-year EPS guidance to $2.99 to $3.07. Despite ongoing supply chain challenges, Franklin Electric remains focused on growth across its global operations.
Franklin Electric Co., Inc. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.175 per share, payable on November 18, 2021, to shareholders recorded by November 4, 2021. As a leader in water and fuel movement systems, Franklin Electric serves diverse sectors globally, including residential and industrial applications. This move reflects the company's ongoing commitment to returning value to its shareholders while maintaining its leadership position in the market.
Franklin Electric Co. (NASDAQ: FELE) is set to release its third quarter 2021 earnings on October 26, 2021, at 8:00 am ET. A follow-up conference call will be hosted at 9:00 am ET to discuss the earnings and business developments. The call will be accessible via live webcast. Those wishing to ask questions can dial in with specific contact numbers provided for domestic and international callers. A replay of the call will be available shortly after, extending through November 2, 2021. Franklin Electric is recognized as a global leader in water and fuel systems.
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