Franklin Electric Q3 2024 Earnings Report
Key Takeaways
Franklin Electric reported Q3 2024 net sales of $531.4 million, a 1% decrease compared to Q3 2023. EPS was $1.17, down from $1.23 in the prior year. The company is lowering its full year sales guidance to approximately $2.00 billion and reducing its EPS guidance to be in the range of $3.75 to $3.85.
Consolidated net sales decreased by 1% year-over-year to $531.4 million.
Water Systems and Distribution net sales increased by 2% and 1%, respectively, while Fueling Systems net sales decreased by 10%.
Operating income was $73.5 million with an operating margin of 13.8%.
GAAP fully diluted earnings per share (EPS) was $1.17.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Forward Guidance
The Company is lowering its sales guidance for full year 2024 to be approximately $2.00 billion and reducing its EPS guidance for full year 2024 to be in the range of $3.75 to $3.85 which incorporates the Company’s first nine months performance and its outlook for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income