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Franklin Electric (NASDAQ: FELE) posts Q2 growth, raises 2026 guidance

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Franklin Electric reported solid second quarter 2026 results, with net sales of $622.9 million, up 6% from $587.4 million a year earlier. Operating income rose to $93.6 million, also up 6%, maintaining a consolidated operating margin of 15.0%. Net income attributable to the company was $65.7 million, and diluted EPS increased to $1.46 from $1.31. Adjusted diluted EPS grew 18% to $1.55, excluding restructuring and a legal settlement.

Water Systems net sales rose 5% to $358.5 million and Distribution net sales grew 11% to $221.1 million, while Energy Systems net sales increased 3% to $80.2 million. Energy Systems results included a $4.5 million legal settlement, with adjusted operating income up 11%. For the first half of 2026, cash flow from operations improved to $58.7 million. Management cited “strong performance” and raised 2026 guidance to $2.21–$2.29 billion in net sales and $4.50–$4.70 in Adjusted Diluted EPS.

Positive

  • The company raised full-year 2026 guidance to $2.21–$2.29 billion in net sales and $4.50–$4.70 in Adjusted Diluted EPS.
  • Second quarter Adjusted Diluted EPS increased 18% year-over-year to $1.55, with consolidated net sales up 6% to $622.9 million.

Negative

  • None.

Filing Explained

As of June 30, cash was $97,283 thousand against $108,491 thousand of current debt maturities and $134,317 thousand of long-term debt.

This July 28 Form 8-K furnishes the company's second-quarter 2026 results under Item 2.02, placing the quarter in the reported-results stage and giving existing common holders an updated June 30 view of cash and debt obligations.

The release's adjusted EPS and adjusted operating income are non-GAAP measures presented in addition to, not instead of, GAAP results; the company also cautions that similarly titled measures may not be comparable across companies.

At June 30, 2026, cash and cash equivalents were $97,283 thousand, while current maturities of long-term debt and short-term borrowings were $108,491 thousand and long-term debt was $134,317 thousand. The six-month cash-flow statement also reports $71,926 thousand of acquisitions and investments and a $75,939 thousand net change in debt.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net Sales Q2 2026 $622.9 million Consolidated net sales for the quarter ended June 30, 2026; 6% higher than Q2 2025
Operating Income Q2 2026 $93.6 million Operating income for the quarter ended June 30, 2026; 6% increase year-over-year
Diluted EPS Q2 2026 $1.46 GAAP diluted earnings per share for Q2 2026 vs $1.31 in Q2 2025
Adjusted Diluted EPS Q2 2026 $1.55 Non-GAAP Adjusted Diluted EPS for Q2 2026; 18% higher than $1.31 in Q2 2025
Legal Settlement Expense Q2 2026 $4.5 million Legal settlement loss recorded in the Energy Systems segment in Q2 2026
Operating Cash Flow H1 2026 $58.7 million Net cash flows from operating activities for six months ended June 30, 2026
2026 Net Sales Guidance $2.21–$2.29 billion Updated full-year 2026 consolidated net sales outlook
2026 Adjusted Diluted EPS Guidance $4.50–$4.70 Updated full-year 2026 Adjusted Diluted EPS guidance range
Adjusted Diluted EPS financial
"Second quarter adjusted diluted EPS1 was $1.55, compared to 2025 second quarter"
Adjusted diluted EPS is a company’s profit per share after adding back or removing one-time items (like restructuring costs or gains) and dividing by the number of shares including potential shares from options and convertible securities. Investors use it as a cleaner view of ongoing earnings—like looking at a car’s regular fuel efficiency rather than a trip boosted by downhill coasting—to judge underlying performance and compare companies without temporary distortions.
Adjusted Operating Income financial
"Energy Systems adjusted operating income2 was $32.4 million, an increase of 11 percent"
Adjusted operating income is a company's profit from its main activities, excluding certain one-time or unusual costs and gains. It helps investors see how well the business is performing in its normal operations, without distractions from rare events or expenses. This way, they get a clearer picture of the company’s true profitability.
non-GAAP financial measures financial
"Note Regarding Non-GAAP Financial Measures The company reports its financial results"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Redeemable noncontrolling interest financial
"Redeemable noncontrolling interest | 1,770 | | | 1,657 |"
A redeemable noncontrolling interest is a minority ownership stake in a business that the minority owner can require to be bought back for cash or that must be redeemed under set conditions. Investors care because it is not permanent equity: it represents a foreseeable cash obligation and can reduce the parent company’s reported equity and available cash, much like a loan from a roommate you must repay on request rather than shared ownership of the house.
foreign currency translation, net financial
"local currency price increases used to offset currency devaluation in the highly inflationary"
Net sales Q2 2026 $622.9 million up 6% from $587.4 million in Q2 2025
GAAP diluted EPS Q2 2026 $1.46 up from $1.31 in Q2 2025, an 11% increase
Adjusted diluted EPS Q2 2026 $1.55 up 18% from $1.31 in Q2 2025
Operating income Q2 2026 $93.6 million up from $88.1 million in Q2 2025, a 6% increase
Guidance

For full-year 2026, the company now expects net sales of $2.21–$2.29 billion and Adjusted Diluted EPS of $4.50–$4.70.

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FAQ

What were Franklin Electric (FELE) net sales in Q2 2026?
Franklin Electric reported Q2 2026 net sales of $622.9 million, up 6% from $587.4 million in Q2 2025. Growth was driven by increases in all three segments: Water Systems, Energy Systems, and Distribution, with particularly strong performance in Distribution.

How did Franklin Electric (FELE) earnings per share change in Q2 2026?
Diluted EPS for Q2 2026 was $1.46, up from $1.31 a year earlier, an 11% increase. Adjusted diluted EPS, excluding restructuring and legal settlement costs, rose 18% to $1.55 from $1.31 in Q2 2025, reflecting improved profitability.

What segment results did Franklin Electric (FELE) report for Q2 2026?
Water Systems net sales were $358.5 million (up 5%), Distribution was $221.1 million (up 11%), and Energy Systems was $80.2 million (up 3%). Adjusted operating income rose in Water Systems and Energy Systems, with Distribution operating income increasing to $19.7 million.

What 2026 guidance did Franklin Electric (FELE) provide?
For full-year 2026, Franklin Electric now expects net sales of $2.21–$2.29 billion and Adjusted Diluted EPS of $4.50–$4.70. Management stated this updated outlook reflects strong performance and momentum in its core Water and Energy businesses.

How did Franklin Electric (FELE) cash flow from operations perform in the first half of 2026?
Net cash provided by operating activities for the first six months of 2026 was $58.7 million, compared with $32.0 million in the prior-year period. The improvement reflects higher earnings and changes in working capital, including receivables, inventory, and payables.

What non-GAAP measures does Franklin Electric (FELE) highlight in its Q2 2026 results?
Franklin Electric highlights Adjusted Diluted EPS and Adjusted Operating Income as non-GAAP measures. Q2 2026 Adjusted Diluted EPS was $1.55, and adjusted operating income was $98.5 million, excluding restructuring and a $4.5 million legal settlement expense.
0000038725false00000387252026-07-282026-07-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026

FRANKLIN ELECTRIC CO., INC.
(Exact name of registrant as specified in its charter)
Indiana 0-362 35-0827455
(State of incorporation) (Commission File Number) (IRS employer identification no.)
9255 Coverdale Road
Fort Wayne,Indiana46809
(Address of principal executive offices)(Zip code)

(260) 824-2900
(Registrant's telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Common Stock, $0.10 par valueFELENASDAQGlobal Select Market
(Title of each class)(Trading symbol)(Name of each exchange on which registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02. Results of Operations and Financial Condition

On July 28, 2026, Franklin Electric Co., Inc. issued a press release announcing its earnings for the second quarter of 2026. A copy of the release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. This Current Report on Form 8-K and the press release attached hereto are being furnished pursuant to Item 2.02 of Form 8-K.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits:
Exhibit NumberDescription
99.1
Press release - "Franklin Electric Reports Second Quarter 2026 Results"
101Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104The cover page from this Current Report on Form 8-K, formatted as Inline XBRL



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FRANKLIN ELECTRIC CO., INC.
(Registrant)
Date: July 28, 2026
By/s/ Jennifer A. Wolfenbarger
Jennifer A. Wolfenbarger
Vice President, Chief Financial Officer
(Principal Financial and Accounting Officer)




Exhibit 99.1
NEWS RELEASE FOR IMMEDIATE DISTRIBUTION


FRANKLIN ELECTRIC REPORTS SECOND QUARTER 2026 RESULTS

Second Quarter 2026 Highlights
•Consolidated net sales of $622.9 million, an increase of 6% to the prior year
•Net sales increased across all three segments: 5% in Water Systems, 3% in Energy Systems, and 11% in Distribution
•Operating income was $93.6 million, an increase of 6% to the prior year, with operating margin of 15.0%
•GAAP fully diluted earnings per share (EPS) was $1.46, an increase of 11 percent; Adjusted diluted EPS was $1.551, an increase of 18 percent

Fort Wayne, IN – July 28, 2026 – Franklin Electric Co., Inc. today announced its second quarter financial results for fiscal year 2026.

Second quarter 2026 net sales were $622.9 million compared to second quarter 2025 net sales of $587.4 million. Second quarter 2026 operating income was $93.6 million, compared to second quarter 2025 operating income of $88.1 million. Second quarter 2026 diluted EPS was $1.46, compared to second quarter 2025 EPS of $1.31. Second quarter adjusted diluted EPS1 was $1.55, compared to 2025 second quarter adjusted diluted EPS1 of $1.31.

1 – Adjusted diluted EPS is a non-GAAP measure. Please refer to our Note Regarding Non-GAAP Financial Measures below for further explanation as well as the final page of this release for a reconciliation of non-GAAP measures to the appropriate GAAP measure.

“In the second quarter, we delivered 6 percent year‑over‑year top‑line growth, balanced between organic and inorganic contributions, along with 18 percent growth in adjusted EPS. With this strong performance and continued momentum in our core businesses, we are increasing both our revenue and EPS guidance for the year. These results reflect the progress of our organic volume growth initiatives — adding new customers, strengthening our channels, and investing in innovation across the highest‑growth applications in the Water and Energy segments. We’re seeing solid demand in areas such as dewatering for mining, pressure‑boosting, and water treatment solutions in fast‑growing regions,” commented Joe Ruzynski, Franklin Electric’s CEO.

“At the same time, we continue to manage closely the inflationary price pressures we’re seeing in sourced materials and logistics lanes. Our global footprint and in‑region manufacturing model help us serve critical water and energy needs reliably while maintaining the operational discipline that supports profitable growth and long-term value for our shareholders,” concluded Mr. Ruzynski.

Segment Summaries

Water Systems net sales were $358.5 million in the second quarter, an increase of $17.7 million or 5 percent compared to the second quarter of 2025. The incremental sales were driven by the sales impact of recent acquisitions, favorable foreign exchange, and price realization. Water Systems operating income in the second quarter of 2026 was $65.2 million, an increase of 6 percent over second quarter 2025 operating income of $61.8 million. Water Systems had $0.4 million of restructuring expenses in the second quarter with adjusted operating income2 of $65.6 million, an increase of 6 percent over the second quarter of 2025 adjusted operating income2 of $61.9 million.




Distribution net sales were $221.1 million, an increase of $21.1 million or 11 percent compared to the second quarter of 2025. Sales increases were driven by higher volumes, the incremental sales impact of recent acquisitions, and price realization. The Distribution segment operating income in the second quarter 2026 was $19.7 million, an increase of 22 percent over second quarter 2025 operating income of $16.1 million.

Energy Systems net sales were $80.2 million in the second quarter 2026, an increase of $2.7 million or 3 percent compared to the second quarter 2025. Sales increases were driven by higher price realization and volumes. Energy Systems operating income in the second quarter of 2026 was $27.9 million compared to the second quarter 2025 operating income of $29.1 million. Energy Systems operating income in the second quarter of 2026 included a $4.5 million legal settlement expense compared to $0.0 million in the second quarter of 2025. Energy Systems adjusted operating income2 was $32.4 million, an increase of 11 percent over the second quarter of 2025 adjusted operating income2 of $29.1 million.


2 – Adjusted operating income is a non-GAAP measure. Please refer to our Note Regarding Non-GAAP Financial Measures below for further explanation as well as the final page of this release for a reconciliation of non-GAAP measures to the appropriate GAAP measure.

2026 Guidance

The Company is raising its guidance for full year 2026 net sales to be in the range of $2.21 billion to $2.29 billion and full year 2026 Adjusted Diluted EPS to be in the range of $4.50 to $4.70.

Earnings Conference Call

A conference call to review earnings and other developments in the business will commence at 10:00 am ET. The second quarter 2026 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

https://edge.media-server.com/mmc/p/bv4pobwm

For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

https://register-conf.media-server.com/register/BIf86cd5e922ea464585fd65d6489735a4

All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

A replay of the conference call will be available from Tuesday, July 28, 2026, through 10:00 am ET on Tuesday, August 4, 2026, by visiting the listen-only webcast link above.

Forward Looking Statements

"Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation,


government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2025, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

Note Regarding Non-GAAP Financial Measures

The company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the non-GAAP financial measure Adjusted Diluted EPS and Adjusted Operating Income provide additional meaningful information regarding the company’s performance and financial strength. Non-GAAP financial measures should be viewed in addition to and not as an alternative for the company’s reported results prepared in accordance with GAAP. In addition, not all companies use identical calculations for Adjusted Diluted EPS and Adjusted Operating Income; therefore, Adjusted Diluted EPS and Adjusted Operating Income included in this release may not be comparable to similarly titled measures of other companies. Adjusted Diluted EPS and Adjusted Operating Income are defined and reconciled to what management believes to be the most comparable GAAP measures in a schedule at the end of this release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the items that are excluded from the non-GAAP outlook measure.

About Franklin Electric

Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers worldwide in residential, commercial, agricultural, industrial, municipal and fueling applications. Franklin Electric is proud to be recognized in Newsweek’s lists of America’s Most Responsible Companies 2025, Most Trustworthy Companies 2025, and Greenest Companies 2025.

Franklin Electric Contact:
Jennifer Wolfenbarger / Dean Cantrell
Franklin Electric Co., Inc.
InvestorRelations@fele.com


FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share amounts)
Second Quarter EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net sales$622,880 $587,434 $1,123,317 $1,042,681 
Cost of sales392,275 375,608 717,743 666,952 
Gross profit230,605 211,826 405,574 375,729 
Selling, general, and administrative expenses132,088 123,521 255,100 243,164 
Restructuring expense406 164 4,278 323 
Legal settlement loss4,512 — 4,512 — 
Operating income93,599 88,141 141,684 132,242 
Interest expense(3,524)(2,805)(5,835)(4,604)
Other income (expense), net1,345 (164)971 679 
Foreign exchange expense, net(2,497)(4,548)(2,122)(5,841)
Income before income taxes88,923 80,624 134,698 122,476 
Income tax expense22,822 20,061 33,902 30,539 
Net income$66,101 $60,563 $100,796 $91,937 
Less: Net income attributable to noncontrolling interests(359)(423)(724)(835)
Net income attributable to Franklin Electric Co., Inc.$65,742 $60,140 $100,072 $91,102 
Earnings per share:
Basic$1.48 $1.32 $2.25 $1.99 
Diluted$1.46 $1.31 $2.23 $1.97 



FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
June 30, 2026December 31, 2025
ASSETS
Cash and cash equivalents$97,283 $99,662 
Receivables (net)352,459 247,511 
Inventories597,736 552,981 
Other current assets49,390 58,472 
Total current assets1,096,868 958,626 
Property, plant, and equipment, net256,064 252,164 
Lease right-of-use assets, net66,574 67,867 
Goodwill and other assets731,226 665,728 
Total assets$2,150,732 $1,944,385 
LIABILITIES AND EQUITY
Accounts payable$206,192 $174,954 
Accrued expenses and other current liabilities121,534 116,747 
Current lease liability19,580 20,518 
Current maturities of long-term debt and short-term borrowings108,491 31,827 
Total current liabilities455,797 344,046 
Long-term debt134,317 135,184 
Long-term lease liability45,930 46,481 
Deferred income taxes49,817 39,275 
Employee benefit plans18,486 22,833 
Other long-term liabilities34,994 29,541 
Redeemable noncontrolling interest1,770 1,657 
Total equity1,409,621 1,325,368 
Total liabilities and equity$2,150,732 $1,944,385 











FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Six Months Ended
(In thousands)
June 30, 2026June 30, 2025
Cash flows from operating activities:
Net income$100,796 $91,937 
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization33,895 30,203 
Non-cash lease expense10,756 10,674 
Share-based compensation7,655 7,969 
Other(1,069)4,509 
Changes in assets and liabilities:
Receivables(98,781)(61,458)
Inventory(30,750)(49,215)
Accounts payable and accrued expenses37,945 11,514 
Operating leases(10,956)(10,513)
Income taxes-U.S. Tax Cuts and Jobs Act—(4,837)
Other9,214 1,214 
Net cash flows from operating activities58,705 31,997 
Cash flows from investing activities:
Additions to property, plant, and equipment(20,383)(18,415)
Proceeds from sale of property, plant, and equipment1,342 727 
Acquisitions and investments(71,926)(109,687)
Other investing activities39 54 
Net cash flows from investing activities(90,928)(127,321)
Cash flows from financing activities:
Net change in debt75,939 134,850 
Payment of debt issuance costs— (974)
Proceeds from issuance of common stock5,063 2,954 
Purchases of common stock(18,326)(129,321)
Dividends paid(24,862)(25,321)
Deferred payments for acquisitions(1,696)(4,300)
Net cash flows from financing activities36,118 (22,112)
Effect of exchange rate changes on cash and cash equivalents(6,274)1,488 
Net change in cash and cash equivalents(2,379)(115,948)
Cash and cash equivalents at beginning of period99,662 220,540 
Cash and cash equivalents at end of period$97,283 $104,592 






Key Performance Indicators: Net Sales Summary

Net Sales For the Second Quarter
(in millions)United States & CanadaLatin AmericaEurope, Middle East & AfricaAsia PacificTotal WaterEnergyDistributionOther/ElimsConsolidated
Q2 2025$203.8 $52.8 $55.7 $28.5 $340.8 $77.5 $200.0 $(30.9)$587.4 
Q2 2026$220.0 $52.6 $56.3 $29.6 $358.5 $80.2 $221.1 $(36.9)$622.9 
Change$16.2 $(0.2)$0.6 $1.1 $17.7 $2.7 $21.1 $(6.0)$35.5 
% Change8 %— %1 %4 %5 %3 %11 %6 %
Foreign currency translation, net*$— $3.9 $1.9 $0.4 $6.2 $(0.1)$— $6.1 
% Change— %7 %3 %1 %2 %— %— %1 %
Acquisitions$5.8 $— $1.6 $— $7.4 $— $7.6 $15.0 
% Change3 %— %3 %— %2 %— %4 %3 %
Volume/Price$10.4 $(4.1)$(2.9)$0.7 $4.1 $2.8 $13.5 $(6.0)$14.4 
% Change5 %(8)%(5)%2 %1 %4 %7 %19 %2 %


*The Company has presented local currency price increases used to offset currency devaluation in the highly inflationary economies of Argentina and Turkey within the foreign currency translation, net row above.

Key Performance Indicators: Operating Income and Margin Summary
Operating Income and Margins
(in millions)
For the Second Quarter 2026
WaterEnergyDistributionOther/ElimsConsolidated
Operating Income/(Loss)$65.2 $27.9 $19.7 $(19.2)$93.6 
% Operating Income To Net Sales18.2 %34.8 %8.9 %15.0 %
Operating Income and Margins
(in millions)
For the Second Quarter 2025
WaterEnergyDistributionOther/ElimsConsolidated
Operating Income/(Loss)$61.8 $29.1 $16.1 $(18.9)$88.1 
% Operating Income To Net Sales18.1 %37.5 %8.1 %15.0 %






Reconciliation of Non-GAAP Financial Measure: Adjusted Diluted EPS
For the Second Quarter
2026
2025
Change
Diluted Earnings per Share "EPS" (as reported - US GAAP)$1.46 $1.31 11 %
Restructuring$0.01 $— 
Legal settlement, gross of tax$0.08 $— 
Adjusted Diluted EPS (non-GAAP)$1.55 $1.31 18 %


Reconciliation of Non-GAAP Financial Measure: Adjusted Operating Income

Operating Income and Adjusted
(in millions)
For the Second Quarter 2026
WaterEnergyDistributionOther/ElimsConsolidated
GAAP Operating Income / (Loss)$65.2 $27.9 $19.7 $(19.2)$93.6 
Restructuring, gross of tax$0.4 $— $— $— $0.4 
Legal Settlement, gross of tax$— $4.5 $— $— $4.5 
Non-GAAP Adjusted Operating Income / (Loss)$65.6 $32.4 $19.7 $(19.2)$98.5 
Operating Income and Adjusted
(in millions)
For the Second Quarter 2025
WaterEnergyDistributionOther/ElimsConsolidated
GAAP Operating Income / (Loss)$61.8 $29.1 $16.1 $(18.9)$88.1 
Restructuring, gross of tax$0.1 $— $— $— $0.1 
Legal Settlement, gross of tax$— $— $— $— $— 
Non-GAAP Adjusted Operating Income / (Loss)$61.9 $29.1 $16.1 $(18.9)$88.2 

Source: View Original Filing on SEC EDGAR

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