Franklin Electric Q1 2021 Earnings Report
Key Takeaways
Franklin Electric reported record first-quarter results with sales reaching $333.0 million, a 25% increase compared to the previous year. The company's EPS increased by 157% to $0.59, and operating income rose by 144% to $33.8 million.
Record sales of $333.0 million, a 25% increase from Q1 2020.
Distribution segment saw strong organic sales growth of 31%, and Water Systems grew by 18%.
Operating income increased by 144% to $33.8 million.
GAAP EPS increased by 157% to $0.59.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Forward Guidance
The company revised its full year 2021 revenue estimates to be in the range of $1.45 billion to $1.48 billion and full year 2021 earnings per share before restructuring expenses to be in the range from $2.80 to $3.00.
Positive Outlook
- Better than expected first quarter earnings
- Recently completed Water Treatment acquisitions
- Strong demand environment in most end markets
- Water Systems and Distribution businesses maintained their momentum
- Fueling Systems business appears to have turned the post-pandemic corner
Challenges Ahead
- Ongoing impacts of the global pandemic
- Global pandemic continues to cause disruption across the globe
- Risks and uncertainties with respect to general economic and currency conditions
- Various conditions specific to the Company’s business and industry
- Weather conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income