Franklin Electric (FELE) Tops Q1 EPS by 5c, Revenues Miss; Withdraws FY20 Guidance

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Go back to Franklin Electric (FELE) Tops Q1 EPS by 5c, Revenues Miss; Withdraws FY20 Guidance

Franklin Electric Reports First Quarter 2020 Sales and Earnings and Provides an Update on Effects of the Global Pandemic

April 28, 2020 8:00 AM EDT

FORT WAYNE, Ind., April 28, 2020 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) reported first quarter 2020 GAAP fully diluted earnings per share (EPS) of $0.23, versus a GAAP fully diluted EPS in the first quarter 2019 of $0.19.  First quarter 2020 sales were $266.8 million, compared to 2019 first quarter sales of $290.7 million.  First quarter EPS before the impact of restructuring expenses was $0.24 compared to 2019 first quarter EPS before restructuring of $0.21 (see table below for a reconciliation of GAAP EPS to EPS before restructuring). 

Gregg Sengstack, Franklin Electrics Chairman and Chief Executive Officer, commented:

Our first quarter... More