Franklin Electric Q4 2022 Earnings Report
Key Takeaways
Franklin Electric reported record fourth-quarter sales of $489.4 million, a 13% increase year-over-year, and record operating income of $56.2 million, up 19% from the prior year. GAAP EPS was $0.84, a slight decrease of $0.01 compared to the prior year. The company delivered record full-year sales, operating income, and earnings per share.
Sales reached $489.4 million, marking a 13% increase over the prior year and a fourth-quarter record.
All three segments experienced strong sales growth, with Distribution up 27%, Water Systems up 9%, and Fueling Systems up 8%.
Operating income hit a fourth-quarter record of $56.2 million, reflecting a 19% increase compared to the prior year.
GAAP fully diluted earnings per share (EPS) stood at $0.84, a decrease of $0.01 from the prior year.
Franklin Electric
Franklin Electric
Franklin Electric Revenue by Segment
Franklin Electric Revenue by Geographic Location
Forward Guidance
The Company expects its full year 2023 sales to be in the range of $2.1 billion to $2.2 billion and full year 2023 EPS to be in the range of $4.10 to $4.30.
Positive Outlook
- Full year 2023 sales to be in the range of $2.1 billion to $2.2 billion
- Full year 2023 EPS to be in the range of $4.10 to $4.30
- Well positioned to continue momentum based on robust demand across end markets
- Diverse customer base
- Growing global need for clean water and safe, cost-effective fueling solutions
Revenue & Expenses
Visualization of income flow from segment revenue to net income