Franklin Electric (FELE) Reports In-Line Q4 EPS

Franklin Electric (NASDAQ: FELE) reported Q4 EPS of $0.51, in-line with the analyst estimate of $0.51. Revenue for the quarter came in at $320.1 million versus the consensus estimate of $321.63 million.

Gregg Sengstack, Franklin Electric’s Chairman and Chief Executive Officer, commented:

“Our fourth quarter operating results were generally in line with our expectations which were to be about the same as the fourth quarter last year. Our revenue was up 1 percent from last year as we benefitted from stronger sales in our Distribution business, our water treatment acquisition and continued strength in Fueling Systems, all of which was offset by the expected decline in our dewatering pump systems sales in the quarter. These sales impacts were offset with lower selling, general and administrative expenses and resulted in operating income being flat in the quarter. Our Earnings Per Share decline versus last year’s fourth quarter is entirely due to higher foreign exchange transactional losses that are non-operational in nature and below the operating income line.

“In 2019, our team executed well in a tough end market environment. While earnings were below our expectations, our free cash flow conversion of net income increased from 101 percent in 2018 to 163 percent in 2019.”

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

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