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Dec 31, 2023
Franklin Electric Q4 2023 Earnings Report
Franklin Electric reported a decrease in net sales and operating income compared to the prior year, but the company delivered solid results, ending a record year overall.
Key Takeaways
Franklin Electric reported Q4 2023 net sales of $473.0 million, a decrease of 3% compared to Q4 2022. The company's operating income was $50.8 million, and EPS was $0.82. Despite a decline in Fueling Systems sales, Water Systems and Distribution segments showed resilience. The company expects demand to gain momentum in 2024.
Consolidated net sales decreased by 3% to $473.0 million compared to the prior year.
Operating income was $50.8 million with an operating margin of 10.7%.
GAAP fully diluted earnings per share (EPS) was $0.82.
Water Systems and Distribution net sales decreased by 1% each, while Fueling Systems net sales decreased 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 expects its full year 2024 sales to be in the range of $2.10 billion to $2.17 billion and full year 2024 EPS to be in the range of $4.22 to $4.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income