Form 8-K FRANKLIN ELECTRIC CO For: Nov 07
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 7, 2017
FRANKLIN ELECTRIC CO., INC.
(Exact name of registrant as specified in its charter)
Indiana | 0-362 | 35-0827455 | ||
(State of incorporation) | (Commission File Number) | (IRS employer identification no.) | ||
9255 Coverdale Road | ||
Fort Wayne, IN | 46809 | |
(Address of principal executive offices) | (Zip code) | |
(260) 824-2900
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 7.01. Regulation FD Disclosure
Gregg Sengstack, Chairman and Chief Executive Officer of Franklin Electric Co. Inc. (the "Company") will present at the Baird Industrial Conference in Chicago, Illinois on November 7, 2017. A copy of the presentation slides are furnished herewith as Exhibit 99.1 and are incorporated herein by reference. The presentation slides will be available on the Company's website (www.franklin-electric.com) in the Investor Relations - Presentations section of the website for thirty days after the presentation. This Current Report on Form 8-K and the presentation slides attached hereto are being furnished pursuant to Item 7.01 of Form 8-K.
This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
Exhibit Number | Description | |
99.1 | ||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FRANKLIN ELECTRIC CO., INC.
(Registrant)
Date: November 7, 2017 | By | /s/ John J. Haines | |
John J. Haines | |||
Vice President and Chief Financial Officer | |||
(Principal Financial and Accounting Officer) | |||
EXHIBIT INDEX
Exhibit Number | Description | |
99.1 | ||
Baird 2017 Global Industrial Conference
November 7, 2017
2
SAFE HARBOR STATEMENT:
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements
contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or
expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations,
business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties
with respect to general economic and currency conditions, various conditions specific to the Company’s business and
industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution
channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of
acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, and
other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of
Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2016, Exhibit 99.1
attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and
uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All
forward-looking statements made herein are based on information currently available, and the Company assumes no
obligation to update any forward-looking statements.
Third Quarter Year to Date 2017 Results
Amounts in millions except share data
3Q YTD 2017 3Q YTD 2016 % + Prior Year
Sales $836.7 $710.3 18%
Operating Income (a) $86.1 $84.7 2%
EPS (a) $1.50 $1.27 18%
3 (a) Before Restructuring Expenses
4
STRATEGIC FOCUS:
To grow as a global provider of water and fuel
systems, through geographic expansion and product
line extensions, leveraging our global platform
and competency in system design.
Strategic Focus
5
Residential, Agricultural, Commercial Water Systems
$6.0 B Global Market Potential(1)
Complete Fueling Systems
$1.2 B Global Market Potential(1)
(1) Current Franklin management estimates
Strong Brand Franchise
#1 or #2 in
Addressable Markets
Growing Global Footprint
Fragmented
Customer Base
Fragmented
Supply Base
Mission Critical Products
and Systems
Applications with High
Cost of Downtime
Contractors Value
Technical Support
Deep Understanding
of Applications
6
Global Footprint
Locations with 50+ employees
New sites, last 5 years
Sales in Developing Regions
$92
$149
$226 $218
$246
$286
$335
$356
$413
$459
$481
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
($
in
milli
o
n
s)
7
CONSTANT CURRENCY
8
Water Systems Fueling Systems
Product Line Extensions
(a) Sales growth excluding the impact of acquisitions for the first twelve months of ownership and the impact of Foreign Exchange.
Annual Organic Growth(a) Summary – 2012 to 3Q 2017
9
2017 Goal is 5% to 7%
2012 2013 2014 2015 2016 3Q YTD
2017
4.9%
6.8%
7.8%
-7.2%
5.1%
3.2%
7.1%
5.9%
11.7%
2.1%
5.2%
8.0%
5.4%
6.6%
8.6%
-5.2%
5.1%
4.3%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
Water Fueling Consolidated
NEW
DISTRIBUTION
SEGMENT
10
2018 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FUEL
IN
G
2015 2017 2016 W
A
TE
R
Acquisitions
2004
11
Why Headwater?
Headwater is a direct result of a shared vision
to safeguard the long-term success of
groundwater distribution channels.
Functioning as a holding company and
investment vehicle, The Headwater Companies
will support the continued growth and success
of the entire groundwater industry.
12
2M Company, Inc.
Drillers Service, Inc.
2MDSI/Headwater Wholesale
Western Hydro
13
2M Company, Inc.
Drillers Service, Inc.
2MDSI/Headwater Wholesale
Western Hydro
• Extend our position
in groundwater
• Move closer to contractor
• Opportunities to move
into adjacencies:
– Filtration
– Treatment
– Irrigation
– Commercial
14
Baird 2017 Global Industrial Conference
November 7, 2017
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