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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 Co., Inc. (FELE) reported its second quarter 2024 financial results with consolidated net sales of $543.3 million, a 5% decrease from the prior year. The company achieved an operating income of $79.1 million with a 14.6% operating margin. GAAP fully diluted earnings per share (EPS) was $1.26, slightly down from $1.27 in Q2 2023.
Despite lower sales across all three segments due to unfavorable weather conditions, Franklin Electric demonstrated resilience through strong operational performance in Water Systems and Fueling Systems. The company maintained its full-year 2024 sales guidance of $2.10 billion to $2.17 billion but reduced its EPS guidance to a range of $4.16 to $4.34.
Franklin Electric (NASDAQ: FELE) has declared a quarterly cash dividend of $0.25 per share, payable on August 15, 2024, to shareholders of record as of August 1, 2024. This announcement demonstrates the company's commitment to providing consistent returns to its shareholders.
Franklin Electric is a global leader in systems and components for water and energy movement, serving diverse sectors including residential, commercial, agricultural, industrial, municipal, and fueling applications. The company has been recognized for its corporate responsibility, trustworthiness, and climate leadership by reputable publications such as Newsweek and USA Today.
Franklin Electric (NASDAQ: FELE) is set to release its second quarter 2024 earnings on July 23, 2024, at 8:00 am ET. The company will follow this with a conference call at 9:00 am ET to discuss the earnings and other business developments. The call will be accessible via a live webcast, with a replay available until July 30, 2024. Interested participants can register online for the call to receive dial-in information. Franklin Electric is a global leader in water and energy systems, serving multiple sectors and has been recognized for its corporate responsibility and trustworthiness.
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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