Franklin Electric reports FY2023 record sales $2.1B, record EPS $4.11, provides 2024 guidance

FRANKLIN ELECTRIC CO INC

2023-FY EPS reported $4.11 revenue$2,065,133,000

Q4 net sales $473.0M (-3% YoY); GAAP EPS $0.82 vs $0.84 prior year.
Full year 2023: record net sales $2.06B (+1%), record operating income $262.4M, record EPS $4.11.
Record operating cash flow $315.7M, up $214M YoY on improved working capital.
Fueling Systems segment sales fell 23% due to destocking and delays; Water Systems and Distribution each -1%.
2024 guidance: net sales $2.10-2.17B, EPS $4.22-4.40.

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 fourth quarter and full year of 2023 results: revenue $473.0 million, EPS $0.82. Guidance reaffirmed.

Period: fourth quarter and full year of 2023
Revenue: $473.0 million
EPS: $0.82
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- NEWS RELEASE FOR IMMEDIATE DISTRIBUTION FRANKLIN ELECTRIC REPORTS FOURTH QUARTER 2023 AND FULL YEAR 2023 RESULTS Fourth Quarter 2023 Highlights • Consolidated net sales of $473.0 million, a decrease of 3% to the prior year • Water Systems and Distribution net sales decreased by 1% each, while Fueling Systems net sales decreased 23% • Operating income was $50.8

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Source: SEC EDGAR

accession 0000038725-24-000010

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