Franklin Electric Co, Inc. (FELE) Reports In-Line Q2 EPS

Franklin Electric Co, Inc. (NASDAQ: FELE) reported Q2 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $284.5 million versus the consensus estimate of $275.6 million.

Gregg Sengstack, Franklin Electric's Chief Executive Officer, commented:

"We are pleased to report that our sales and adjusted net income for the second quarter of 2014 were again records for any quarter in the Company's history. During the second quarter 2014, our consolidated operating income after non-GAAP adjustments grew by 3 percent compared to the second quarter of 2013 driven by a 25 percent increase in Fueling Systems operating income, a near doubling of Pioneer Pump sales globally and double digit earnings growth of our Water Systems businesses in Europe and the Middle East. These positive factors were partially offset in the quarter by lower Water Systems profitability due to a shift in sales mix. Additionally, in certain developing region markets, most notably Asia Pacific, a combination of factors lowered overall profitability. Consolidated adjusted operating income margin declined in the second quarter by 80 basis points."

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

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