Franklin Electric (FELE) Misses Q3 EPS by 1c; Narrows Outlook
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Franklin Electric (NASDAQ: FELE) reported Q3 EPS of $0.48, $0.01 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $239.8 million versus the consensus estimate of $244.09 million.
Franklin Electric sees FY2016 EPS of $1.62-$1.67, versus the consensus of $1.67.
Gregg Sengstack, Franklin Electric’s Chairman and Chief Executive Officer, commented:
“Overall, we’re pleased with the Company’s results in the third quarter, particularly the performance of our Water Systems segment where strong sales performance in Asia Pacific, Latin America and North America drove organic sales growth of 5 percent. Our Water Systems adjusted operating income margin was 140 basis points higher in the third quarter than the same quarter of 2015. Our Fueling Systems segment slowed in the third quarter to an organic sales decline of about 1 percent after excluding the impact of foreign currency translation. The Fueling Systems revenue decline can be attributed to weaker international markets as revenues in the U.S. and Canada increased by 5 percent in the third quarter.”
For earnings history and earnings-related data on Franklin Electric (FELE) click here.
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