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Sep 30, 2023
Franklin Electric Q3 2023 Earnings Report
Franklin Electric's performance was solid but challenging, with results below expectations due to commodity price pressure and destocking, though Water Systems achieved record revenue and operating income.
Key Takeaways
Franklin Electric reported net sales of $538.4 million, a 2% decrease compared to the prior year. EPS was $1.23. Water Systems sales increased by 1%, while Fueling Systems and Distribution sales decreased by 14% and 2%, respectively. Operating income was $78.1 million with an operating margin of 14.5%.
Consolidated net sales decreased by 2% year-over-year to $538.4 million.
Water Systems sales increased by 1%, setting a third-quarter record.
Operating income was $78.1 million, with an operating margin of 14.5%.
GAAP fully diluted earnings per share (EPS) was $1.23.
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 updating its guidance for full year 2023 sales to be in the range of $2.05 billion to $2.15 billion and full year 2023 EPS to be in the range of $4.07 to $4.17.
Revenue & Expenses
Visualization of income flow from segment revenue to net income