Franklin Electric Q3 2022 Earnings Report
Key Takeaways
Franklin Electric reported record third quarter results with sales of $551.7 million, a 20% increase compared to Q3 2021. Operating income also reached a record $80.0 million, up 41% from the previous year. GAAP EPS was $1.24, also a new third quarter record. The company has updated its full-year net sales guidance to $2.0 billion to $2.1 billion and 2022 FY earnings per share excluding restructuring guidance to $4.08 to $4.18.
Record sales of $551.7 million, a 20% increase year-over-year.
Operating income reached a record $80.0 million, a 41% increase year-over-year.
GAAP EPS was $1.24, a new third quarter record.
Strong organic sales growth in all three segments: Distribution 22%, Water Systems 19%, and Fueling Systems 13%.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Forward Guidance
The company revised its guidance for full-year 2022 net sales to between $2.0 billion and $2.1 billion with full-year earnings per share excluding restructuring to the range of $4.08 and $4.18.
Positive Outlook
- Net sales between $2.0 billion and $2.1 billion
- Earnings per share excluding restructuring between $4.08 and $4.18
Revenue & Expenses
Visualization of income flow from segment revenue to net income