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Jun 30, 2023
Franklin Electric Q2 2023 Earnings Report
Franklin Electric reported record second quarter 2023 results, with consolidated net sales reaching an all-time quarterly high and GAAP EPS setting a new record.
Key Takeaways
Franklin Electric announced record second-quarter sales and EPS, driven by strong demand in core markets and effective global team execution. Net sales were $569.1 million, a 3% increase over the prior year, and EPS reached $1.27, a new record for any quarter. The company maintains its full-year sales and EPS guidance.
Consolidated net sales reached a record $569.1 million, a 3% increase year-over-year.
Water Systems and Distribution sales increased by 4% and 1%, respectively.
Operating income was $80.9 million, resulting in a healthy operating margin of 14.2%.
GAAP fully diluted earnings per share (EPS) was $1.27, a new record for any quarter.
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.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 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