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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.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Revenue by Segment
Water Systems Revenue
CapyFin.comDistribution Revenue
CapyFin.comEnergy Systems Revenue
CapyFin.comRevenue by Geographic Location
United States & Canada Revenue
CapyFin.comLatin America Revenue
CapyFin.comEurope, Middle East & Africa Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com 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