Franklin Electric (FELE) Tops Q2 EPS by 11c

Franklin Electric (NASDAQ: FELE) reported Q2 EPS of $0.64, $0.11 better than the analyst estimate of $0.53.

GUIDANCE:

Franklin Electric raises FY2017 EPS to $1.87-$1.97, versus the consensus of $2.07.

"We’re pleased with the overall performance of our Company in the second quarter in which we achieved solid organic sales growth in both our Water and Fueling Systems segments, led by a 10 percent Water Systems sales growth in the United States and Canada. The Distribution companies that we acquired in the quarter, reported in a new segment, started off with a strong second quarter achieving higher than expected operating income margins and exceeding our earnings expectation. Although our reported earnings per share of $0.64 were a record for any second quarter in our history, about six cents of this amount was related to a one-time gain. We are optimistic about the second half of 2017 and are raising our full year 2017 earnings per share guidance range to $1.87 to $1.97.”

For earnings history and earnings-related data on Franklin Electric (FELE) click here.

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