Franklin Electric Q1 record sales $484.6M, EPS $0.79, raises FY guidance

FRANKLIN ELECTRIC CO INC

2023-Q1 EPS reported $0.79 revenue$484,551,000

Sales $484.6M (+7% YoY), record Q1; EPS $0.79 vs $0.63 prior year.
Water Systems sales $306.6M (+12%), operating income $49.0M (record).
Fueling Systems sales $72.7M (+0.3%), operating income $20.8M (record).
Distribution sales $143.0M (+6%) but operating income fell to $4.7M from $9.4M on margin pressure.
FY 2023 guidance raised: sales $2.15-2.25B, EPS $4.25-4.45.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.75

FRANKLIN ELECTRIC CO INC updated its first quarter of 2023 guidance (raised).

Period: first quarter of 2023
Guidance: raised
Result: reported results

Exact text from the filing

On May 2, 2023, Franklin Electric Co., Inc. issued a press release announcing its earnings for the first quarter of 2023. A copy of the release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0000038725-23-000065

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