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Mar 31, 2023
Franklin Electric Q1 2023 Earnings Report
Franklin Electric reported a record first quarter with sales increasing by 7% and operating income rising by 32% compared to the prior year.
Key Takeaways
Franklin Electric delivered a strong start to 2023, achieving record first quarter sales, operating income, and earnings per share. The company's performance was driven by robust demand and improvements in supply chain management, leading to operating margin expansion.
First quarter sales reached a record $484.6 million, a 7% increase year-over-year.
Operating income hit a record $52.6 million, up 32% from the prior year.
GAAP fully diluted earnings per share (EPS) was $0.79, an increase of $0.16 over the prior year.
The company is raising its full year 2023 sales and EPS guidance.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is updating and raising its guidance for full year 2023 sales to be in the range of $2.15 billion to $2.25 billion and full year 2023 EPS to be in the range of $4.25 to $4.45.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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