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Franklin Electric (FELE) Tops Q3 EPS by 2c

October 29, 2019 8:02 AM EDT

Franklin Electric (NASDAQ: FELE) reported Q3 EPS of $0.73, $0.02 better than the analyst estimate of $0.71. Revenue for the quarter came in at $348.4 million versus the consensus estimate of $353.85 million.

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

“Our third quarter earnings were a record for any third quarter in the Company’s history. Our earnings per share grew by 14 percent from the third quarter 2018. Our improvement in earnings was led by our Distribution segment which grew operating income by over 70 percent as a result of more favorable weather conditions in much of the United States and acquisitions. Our free cash flow after capital expenditures is about 65 percent higher through the first three quarters of the year versus the same period of 2018. Despite these earnings and cash generation improvements, organic sales growth was below expectations in our Water and Fueling systems businesses.”

Commenting on the outlook for the remainder of 2019, Mr. Sengstack said:

“Based on our third quarter results and our current view of our end markets, we expect our fourth quarter to be similar to last year in both revenue and earnings. This would result in full year 2019 earnings per share before restructuring at the low end of our current guidance.”

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



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