Franklin Electric (FELE) Misses Q3 EPS by 4c; Lowers FY18 EPS Outlook Below Consensus
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Franklin Electric Reports Record Third Quarter 2018 Sales and Earnings
October 26, 2018 8:00 AM EDTFORT WAYNE, Ind., Oct. 26, 2018 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) reported third quarter 2018 GAAP fully diluted earnings per share (EPS) of $0.63, versus a GAAP fully diluted EPS in the third quarter 2017 of $0.52. Third quarter 2018 sales were $341.9 million, compared to 2017 third quarter sales of $311.1 million. Third quarter 2018 organic sales increased about 8 percent when excluding the impact of foreign currency translation. Third quarter EPS before the impact of restructuring expenses was $0.64 compared to 2017 third quarter EPS before restructuring of $0.53 (see table below for a reconciliation of GAAP EPS to EPS before restructuring).
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