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Franklin Electric Co., Inc. reports company developments tied to its water, energy and distribution businesses. The company manufactures and distributes systems and components for the movement and management of water, fuel and electricity, including pumps, motors, drives, electronic controls, monitoring devices, water treatment equipment and fueling-system components.
Recurring news for FELE includes quarterly and annual earnings, segment sales and operating performance across Water Systems, Energy Systems and Distribution, dividend declarations, investor conference participation and updates on business operations. Company updates also reference end markets such as residential, commercial, agricultural, industrial, municipal and fueling applications.
Franklin Electric Co. (NASDAQ: FELE) announced the acquisition of Gicon Pumps & Equipment Inc. for $27.9 million on December 31, 2020. Gicon, based in Lubbock, Texas, is recognized for its quality service in the groundwater distribution sector, with annual sales of approximately $68 million. This acquisition enhances Franklin Electric's geographic presence in Texas and strengthens its commitment to groundwater markets, positioning it as a leading distributor of water systems solutions in the U.S.
Franklin Electric Co. (NASDAQ: FELE) announced the acquisition of Waterite Inc. and Waterite America Inc. in an all-cash transaction. Based in Winnipeg, Canada, Waterite specializes in residential and commercial water treatment products and services, boasting approximately USD $22 million in annual sales. The acquisition aligns with Franklin Electric's strategic focus on expanding its water treatment capabilities, leveraging Waterite's expertise in both Canadian and U.S. markets. This move aims to enhance Franklin Electric's existing water systems business.
Franklin Electric Co. (NASDAQ: FELE) reported Q3 2020 GAAP EPS of $0.82, up from $0.72 in Q3 2019. Sales rose to $351.2 million, compared to $348.4 million in the prior year. EPS before restructuring expenses was $0.83, a 14% increase year-over-year. Water businesses outside the U.S. grew 15%, while U.S. and Canada water business rose 12%. Fueling Systems sales declined 12%. The company raised its full-year EPS guidance to between $2.10 and $2.15, citing strong cash flow performance, with free cash flow expected to exceed 170% of net income for 2020.
Franklin Electric Co., Inc. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.155 per share, scheduled for payment on November 19, 2020, to shareholders on record as of November 5, 2020. The company, a global leader in water and fuel movement systems, emphasizes its technical leadership in serving diverse markets, including residential and industrial sectors. This dividend reflects Franklin Electric's commitment to shareholder value amidst ongoing operational activities in various global markets.
Franklin Electric Co. (NASDAQ: FELE) will release its third quarter 2020 earnings on October 27, 2020, at 8:00 am ET. The earnings call will follow at 9:00 am ET, accessible via a live webcast. The company is recognized globally for its systems and components in water and fuel movement across various sectors including residential and industrial applications. Forward-looking statements in the release highlight potential risks such as economic conditions, supply chain issues, and changes in market demand, which may affect financial results.
Franklin Electric Co. (NASDAQ: FELE) declared a quarterly cash dividend of $0.155 per share, payable on August 20, 2020, to shareholders of record by August 6, 2020. The company is recognized as a technical leader in producing systems and components for the movement of water and fuel, serving various customer segments globally, including residential, commercial, and agricultural sectors.
Franklin Electric Co. (NASDAQ: FELE) will release its Q2 2020 earnings on July 28, 2020, at 8:00 am ET, followed by a conference call at 9:00 am ET. The call will provide insights into earnings and business developments and be accessible via a live webcast. A replay will be available from July 28 at 12:00 noon ET until August 4, 2020. Franklin Electric is a leading producer of systems and components for water and fuel movement, serving various sectors globally.
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