Welcome to our dedicated page for Franklin Elec news (Ticker: FELE), a resource for investors and traders seeking the latest updates and insights on Franklin Elec stock.
Franklin Electric Co., Inc. (FELE) delivers essential water and energy system solutions worldwide. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and market leadership.
Access official press releases, earnings announcements, and strategic initiatives across FELE's core segments: Water Systems (pumping/controls), Energy Systems (fueling infrastructure), and Distribution operations. Stay informed about product innovations, sustainability efforts, and partnership announcements shaping the future of fluid management technologies.
Our curated news feed serves as your primary source for tracking FELE's operational milestones, leadership changes, and industry recognition. Bookmark this page for direct access to verified updates that matter to stakeholders in residential, commercial, and municipal infrastructure markets.
Franklin Electric (NASDAQ: FELE) announced the appointment of Joe Ruzynski as the new CEO, effective July 1, 2024. Ruzynski, who joins from nVent Electric plc (NYSE: NVT), has over 25 years of experience in the industrial and electrical sectors. He previously held leadership roles at Pentair plc. Gregg Sengstack, the outgoing CEO since 2014, will remain as Executive Chairperson. The Board expressed confidence in Ruzynski's ability to lead the company into its next growth phase. Franklin Electric has seen significant growth under Sengstack's leadership, transforming into a global leader in water and energy systems.
Franklin Electric Co., Inc. reported first quarter 2024 financial results, with net sales at $460.9 million, a 5% decrease from the prior year. While Distribution net sales increased by 3%, Water Systems and Fueling Systems net sales dropped by 7% and 15%, respectively. Operating income stood at $47.9 million with an operating margin of 10.4%. GAAP fully diluted EPS was $0.70.
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