Franklin Electric Reports Fourth Quarter 2019 Sales and Earnings

Fort Wayne, IN – February 18, 2020 - Franklin Electric Co., Inc. (NASDAQ: FELE) reported fourth quarter 2019 GAAP fully diluted earnings per share (EPS) of $0.42, versus a GAAP fully diluted EPS in the fourth quarter 2018 of $0.51.  Fourth quarter 2019 sales were $320.1 million, compared to 2018 fourth quarter sales of $316.7 million.  Fourth quarter EPS before the impact of restructuring expenses was $0.43 compared to 2018 fourth quarter EPS before restructuring of $0.52 (see table below for a reconciliation of GAAP EPS to EPS before restructuring). 

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

“Our fourth quarter operating results were generally in line with our expectations which were to be about the same as the fourth quarter last year.  Our revenue was up 1 percent from last year as we benefitted from stronger sales in our Distribution business, our water treatment acquisition and continued strength in Fueling Systems all of which was offset by the expected decline in our dewatering pump systems sales in the quarter.  These sales impacts were offset with lower selling, general and administrative expenses and resulted in operating income being flat in the quarter.  Our Earnings Per Share decline versus last year’s fourth quarter is entirely due to higher foreign exchange transactional losses that are non-operational in nature and below the operating income line.

In 2019, our team executed well in a tough end market environment. While earnings were below our expectations, our free cash flow conversion of net income increased from 101 percent in 2018 to 163 percent in 2019.”


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