Franklin Electric Reports Second Quarter 2017 Sales and Earnings

Fort Wayne, IN – July 25, 2017 - Franklin Electric Co., Inc. (NASDAQ: FELE) reported second quarter 2017 GAAP fully diluted earnings per share (EPS) of $0.64, versus a GAAP fully diluted EPS in the second quarter 2016 of $0.50, an increase of 28 percent. Second quarter 2017 sales were $305.3 million, an increase of 21 percent compared to 2016 second quarter sales of $252.1 million.

Gregg Sengstack, Franklin Electric’s Chairman and Chief Executive Officer, commented:

“We’re pleased with the overall performance of our Company in the second quarter in which we achieved solid organic sales growth in both our Water and Fueling Systems segments, led by a 10 percent Water Systems sales growth in the United States and Canada. The Distribution companies that we acquired in the quarter, reported in a new segment, started off with a strong second quarter achieving higher than expected operating income margins and exceeding our earnings expectation. Although our reported earnings per share of $0.64 were a record for any second quarter in our history, about six cents of this amount was related to a one-time gain. We are optimistic about the second half of 2017 and are raising our full year 2017 earnings per share guidance range to $1.87 to $1.97.”


The financial information on this page about Franklin Electric Co., Inc. has previously been made available for public dissemination through press releases. The placement of such press releases on this particular page of the Franklin Electric Company website is intended to set apart and distinguish financial information from other non-financial information found on this site, including product, service, marketing and technical information. Regardless of the language used and the resulting interpretations that may or could be reached, such product, service, marketing, technical, and/or any other information found within other pages of this site should in no way be construed to be financial in nature or represent the past, current or future financial results of Franklin Electric Co., Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including but not limited to, general economic and currency conditions, various conditions specific to the Company's business and industry, market demand, competitive factors, supply constraints, technology factors, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. We do not assume any obligation to update any forward-looking information. While we may elect to update the forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.

We Value Your Feedback