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Mar 31, 2024
Franklin Electric Q1 2024 Earnings Report
Franklin Electric's Q1 2024 results were announced, revealing a decrease in net sales compared to the prior year, but with improved margins in Water Systems and Fueling Systems segments.
Key Takeaways
Franklin Electric reported a 5% decrease in net sales to $460.9 million for Q1 2024 compared to $484.6 million in Q1 2023. EPS decreased to $0.70 from $0.79 year-over-year. Despite lower sales, the company saw improved margins in the Water Systems and Fueling Systems segments and strong execution by global teams.
Consolidated net sales decreased by 5% year-over-year to $460.9 million.
Distribution net sales increased by 3%, while Water Systems and Fueling Systems net sales decreased by 7% and 15%, respectively.
Operating income was $47.9 million, with an operating margin of 10.4%.
GAAP fully diluted earnings per share (EPS) was $0.70.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is maintaining its guidance for full year 2024 sales to be in the range of $2.10 billion to $2.17 billion and full year 2024 EPS to be in the range of $4.22 to $4.40.
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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