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Dec 31, 2022
Franklin Electric Q4 2022 Earnings Report
Franklin Electric's Q4 2022 earnings were released, revealing record fourth-quarter sales and operating income, but a slight decrease in GAAP EPS compared to the prior year.
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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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