Franklin Electric Co., Inc. (NASDAQ: FELE) reported Q1 EPS of $0.45, $0.04 better than the analyst estimate of $0.41. Revenue for the quarter came in at $295.63 million versus the consensus estimate of $290.64 million.

Commenting on the outlook, Mr. Sengstack said:

“Given our strong start to the year in both the Water and Fueling Systems segments, and our better than expected sequential growth in Distribution, we are raising our revenue guidance for 2018. We now believe our organic revenue growth, which excludes the impact of foreign currency translation, will more likely be in the 6 to 8 percent range. This is an increase from the 4 to 5 percent range for Water and Distribution and from the 5 to 7 percent range for Fueling, provided in our previous guidance.

Based on these higher growth assumptions and resultant earnings, we are raising our full year 2018 estimate for earnings per share to a range of $2.27 to $2.37, an increase from the $2.16 to $2.28 provided in our previous guidance. The discrete tax benefits we realized in the first quarter were planned and included in our previous earnings guidance.”

GUIDANCE:

Franklin Electric Co., Inc. sees FY2018 EPS of $2.27-$2.37, versus the consensus of $2.23.

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