Franklin Electric Q2 net sales down 5% to $543.3M, EPS $1.26; lowers FY EPS guidance to $4.16-$4.34

FRANKLIN ELECTRIC CO INC

2024-Q2 EPS reported $1.97 revenue$1,004,158,000

Consolidated net sales $543.3M (-5% YoY); GAAP diluted EPS $1.26 vs $1.27.
Water Systems operating income record $62.3M (+23% YoY); sales -2% to $315.6M.
Distribution operating income $9.8M vs $17.8M; sales -1% due to wet weather delays.
Fueling Systems sales -9% to $73.1M; operating income $26.0M vs $26.7M.
FY2024 EPS guidance reduced to $4.16-$4.34; revenue guidance maintained at $2.10B-$2.17B.

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