Franklin Electric Q2 2022 Earnings Report
Key Takeaways
Franklin Electric reported record second quarter results with sales of $551.1 million, a 26% increase compared to the second quarter of 2021. Operating income also reached a record $81.0 million, a 57% increase. GAAP fully diluted earnings per share was $1.26, a new record for any quarter.
Record sales of $551.1 million, a 26% increase compared to Q2 2021.
Strong organic sales growth in all three segments: Water Systems 27%, Fueling Systems 21%, and Distribution 18%.
Operating income was a record at $81.0 million, a 57% increase compared to Q2 2021.
GAAP fully diluted earnings per share (EPS) was $1.26, a new record for any quarter.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Forward Guidance
The company is revising its full-year 2022 guidance, increasing consolidated net sales to between $2.00 billion and $2.15 billion. Furthermore, they are revising and increasing their 2022 full-year earnings per share excluding restructuring to between $4.00 and $4.20.
Positive Outlook
- Increasing consolidated net sales guidance to between $2.00 billion and $2.15 billion.
- Increasing full-year earnings per share excluding restructuring to between $4.00 and $4.20.
Challenges Ahead
- Challenging business environment with inflation persisting.
- Supply issues continuing in the near-term.
Revenue & Expenses
Visualization of income flow from segment revenue to net income