Franklin Electric Q4 2020 Earnings Report
Key Takeaways
Franklin Electric announced record fourth quarter 2020 sales of $321.1 million, driven by organic growth in the Distribution and Water Systems segments. The company's GAAP earnings per share was $0.57, and operating income reached $34.4 million, a 20% increase from the prior year. Full year 2020 sales were $1,247.3 million and GAAP earnings per share was $2.14.
Record sales of $321.1 million in the fourth quarter 2020.
Distribution and Water Systems experienced organic sales growth of 21% and 4%, respectively.
Gross profit margin increased by 300 basis points.
GAAP operating income increased 20% to $34.4 million.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Forward Guidance
The Company expects its full year 2021 sales to be in the range of $1.365 billion to $1.395 billion and full year 2021 earnings per share before restructuring expenses to be in the range from $2.50 to $2.75. The Company expects full year 2021 free cash flow conversion to exceed 115 percent of net income.
Positive Outlook
- Full year 2021 sales to be in the range of $1.365 billion to $1.395 billion
- Full year 2021 earnings per share before restructuring expenses to be in the range from $2.50 to $2.75
- Full year 2021 free cash flow conversion to exceed 115 percent of net income
Revenue & Expenses
Visualization of income flow from segment revenue to net income