Franklin Electric reports record Q4 sales $489.4M, FY 2022 sales $2.0B; guides FY 2023 EPS $4.10–$4.30

FRANKLIN ELECTRIC CO INC

2022-FY EPS reported $3.97 revenue$2,043,711,000

Q4 sales $489.4M (+13% YoY), record; operating income $56.2M (+19%). GAAP EPS $0.84 vs $0.85 prior year (incl. $6.5M bargain gain).
Full year sales $2.0B (+23%), operating income $257.2M (+36%), GAAP EPS $3.97 (+22%) – all records.
Water Systems segment sales $281.3M (+9%) record; Distribution $148.9M (+27%) record but op. income fell to $2.9M on commodity margin compression.
2023 guidance: sales $2.1B–$2.2B and EPS $4.10–$4.30; cash from operations $101.7M vs $129.8M in 2021 due to working capital.
Fueling Systems sales $85.5M (+8%) and op. income $24.3M – both Q4 records.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FRANKLIN ELECTRIC CO INC reported the fourth quarter and full year of 2022 results: revenue $489.4 million, EPS $0.84.

Period: the fourth quarter and full year of 2022
Revenue: $489.4 million
EPS: $0.84
Result: reported results

Exact text from the filing

(EX-99.1) --- NEWS RELEASE FOR IMMEDIATE DISTRIBUTION FRANKLIN ELECTRIC REPORTS RECORD FOURTH QUARTER 2022 AND FULL YEAR 2022 RESULTS Fourth Quarter 2022 Highlights • Sales of $489.4 million, an increase of 13% over the prior year, was a fourth quarter record • Strong sales growth in all three Segments; Distribution up 27%, Water Systems up 9%, and Fueling Systems up

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Source: SEC EDGAR

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