Franklin Elec Inc Stock Price, News & Analysis

Franklin Electric reported record third quarter 2021 sales of $459.0 million, a 31% increase from $351.2 million in 2020. Operating income rose to $56.6 million, up 17% year-over-year. The GAAP EPS reached a record $0.98, compared to $0.82 in 2020. All three business segments showed strong organic growth: Distribution at 30%, Fueling Systems at 18%, and Water Systems at 11%. The company raised its full-year EPS guidance to $2.99 to $3.07. Despite ongoing supply chain challenges, Franklin Electric remains focused on growth across its global operations.

Franklin Electric Co., Inc. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.175 per share, payable on November 18, 2021, to shareholders recorded by November 4, 2021. As a leader in water and fuel movement systems, Franklin Electric serves diverse sectors globally, including residential and industrial applications. This move reflects the company's ongoing commitment to returning value to its shareholders while maintaining its leadership position in the market.

Franklin Electric Co. (NASDAQ: FELE) is set to release its third quarter 2021 earnings on October 26, 2021, at 8:00 am ET. A follow-up conference call will be hosted at 9:00 am ET to discuss the earnings and business developments. The call will be accessible via live webcast. Those wishing to ask questions can dial in with specific contact numbers provided for domestic and international callers. A replay of the call will be available shortly after, extending through November 2, 2021. Franklin Electric is recognized as a global leader in water and fuel systems.

Franklin Electric Co. announced impressive financial results for Q2 2021, reporting sales of $437.3 million, a 42% increase from Q2 2020. Operating income soared by 52% to $51.6 million, with GAAP diluted EPS reaching a record $0.83. All segments saw strong organic sales growth: Distribution up 41%, Fueling Systems 27%, and Water Systems 23%. The company maintains its full-year EPS guidance of $2.85 to $3.05. Despite ongoing supply chain challenges, Franklin Electric is confident in its future growth prospects.

Franklin Electric Co. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.175 per share, set for payment on August 19, 2021, to shareholders of record by August 5, 2021. The company is a global leader in the production of systems and components for water and fuel management, catering to various markets including residential, commercial, and agricultural sectors.

Franklin Electric emphasizes its commitment to innovation and technical expertise in its product offerings.

Franklin Electric Co. (NASDAQ: FELE) will announce its Q2 2021 earnings on July 27, 2021, at 8:00 am ET. Following this, a conference call is scheduled at 9:00 am ET to discuss earnings and business developments. The call will be accessible via a live webcast. A replay will be available from July 27 at noon ET until August 3, 2021. Franklin Electric is a leading provider of water and fuel movement solutions, serving various industries globally.

Franklin Electric (NASDAQ: FELE) appointed Jeffery L. Taylor as Vice President and Chief Financial Officer, effective June 14, 2021. Taylor, previously CFO of Blue Bird Corporation, brings over 20 years of finance leadership experience. John J. Haines, who served as CFO for 13 years, will assist in the transition. CEO Gregg C. Sengstack praised Taylor's operational expertise and ability to drive long-term value. Haines notably guided the finance team through significant growth since joining during the financial crisis in 2008.

Franklin Electric Co. (NASDAQ: FELE) has acquired New Aqua, LLC for $150 million in cash, enhancing its position in the water treatment market. The acquisition is expected to be accretive to 2021 earnings per share (EPS) by $0.04 to $0.06. New Aqua, with over 60 years of experience and approximately $68 million in annual sales, strengthens Franklin Electric's product offerings while expanding its dealer channel access. The transaction aligns with Franklin Electric's strategy to invest in key water treatment assets, supporting growth in both residential and commercial categories.

Franklin Electric Co., Inc. (NASDAQ: FELE) announces significant changes to its Board of Directors effective May 7, 2021. David T. Brown has retired after serving since 2008, with gratitude expressed for his contributions. Alok Maskara has been elected as a new director, bringing nearly 30 years of experience in manufacturing and technology, previously serving as CEO of Luxfer Holdings PLC. Thomas R. VerHage will now serve as Lead Independent Director, succeeding Mr. Brown.