Financial Data and Key Metrics Changes - Consolidated third quarter sales were $531.4 million, a year-over-year decrease of 1% [25] - Consolidated gross profit was $189.7 million, a 2% year-over-year increase, with a gross profit margin of 35.7%, up 110 basis points from the prior year [26] - Fully diluted earnings per share were $1.17 for Q3 2024, down from $1.23 in Q3 2023 [24] Business Line Data and Key Metrics Changes - Water Systems sales in the US and Canada increased by 1%, with groundwater funding equipment sales up 13% and water treatment products up 9% [29] - Fueling Systems sales decreased by 10% year-over-year, with a notable decline in international sales [33] - Distribution segment sales were $190.8 million, an increase of 1% year-over-year, driven by recent acquisitions [32] Market Data and Key Metrics Changes - Sales in markets outside the US and Canada increased by 4%, although foreign currency translation decreased sales by 4% [30] - The overall demand environment remains healthy across core businesses, despite pressures from macro trends such as low housing starts and unfavorable weather [6][13] Company Strategy and Development Direction - The company aims to increase enterprise efficiency while accelerating innovation and growth, focusing on critical water needs in growing markets [11] - There is an emphasis on addressing customer intimacy and service quality as a differentiator in the market [9][10] - The company is taking actions to reduce costs and improve productivity, with restructuring activities expected to incur one-time charges of $3 million to $5 million [39][88] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that third quarter results were below expectations but expressed optimism about overcoming macroeconomic headwinds [41] - The company is cautiously optimistic about 2025, anticipating some relief from current challenges [54] - Management noted that the effective tax rate increased to 23.6% for the quarter, impacting earnings per share [35] Other Important Information - The company ended Q3 2024 with a cash balance of $106.3 million and no borrowings under its revolving credit agreement [36] - A quarterly cash dividend of $0.25 was announced, payable on November 21 [37] Q&A Session Summary Question: Can you provide more detail on Q4 expectations by segment? - Management indicated that Q4 expectations are similar to Q3, with strength in US businesses but pressure outside the US due to economic conditions [43][47] Question: What is the impact of SG&A costs? - SG&A costs increased due to CEO transition and acquisitions, with a total impact of approximately $3 million to $3.5 million for the CEO transition and around $6 million for acquisitions [64][66] Question: How are inventory levels and pricing being managed? - Inventory levels are normalized, and pricing in the Water Systems business is positive, while commodity pricing has seen declines [71][73] Question: What is the outlook for the fueling business? - The US fueling business remains stable, while international markets face more challenges; labor constraints are a concern for build-outs [83][86] Question: Can you elaborate on the restructuring efforts? - Restructuring efforts are focused on lowering discretionary costs and optimizing the manufacturing and distribution footprint [88][89]

Franklin Electric (FELE) came out with quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -10%. A quarter ago, it was expected that this water and fuel pumping systems company would post earnings of $1.30 per share when it actually produced earnings of $1.26, delivering a surprise of -3.08%. Over the ...

Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE DISTRIBUTION FRANKLIN ELECTRIC REPORTS THIRD QUARTER 2024 RESULTS Third Quarter 2024 Highlights • Consolidated net sales of $531.4 million, a decrease of 1% to the prior year • Water Systems and Distribution net sales increased 2% and 1%, respectively, while Fueling Systems net sales decreased 10% • Operating income was $73.5 million with operating margin of 13.8% • GAAP fully diluted earnings per share (EPS) was $1.17 Fort Wayne, IN – October 29, 2024 – Franklin Elec ...

Third Quarter 2024 Highlights Consolidated net sales of $531.4 million, a decrease of 1% to the prior year Water Systems and Distribution net sales increased 2% and 1%, respectively, while Fueling Systems net sales decreased 10% Operating income was $73.5 million with operating margin of 13.8% GAAP fully diluted earnings per share (EPS) was $1.17 FORT WAYNE, Ind., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. today announced its third quarter financial results for fiscal year 2024. Third qua ...

FORT WAYNE, Ind., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) will release its third quarter 2024 earnings at 8:00 am ET on Tuesday, October 29, 2024. A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The third quarter 2024 earnings call will be available via a live webcast. The webcast will be available in a listen-only mode by going to: https://edge.media-server.com/mmc/p/cp5pmtx9 For those interested in participating ...

Investors with an interest in Manufacturing - Electronics stocks have likely encountered both Emerson Electric (EMR) and Franklin Electric (FELE) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnin ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ (Registrant's telephone number, including area code) Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 1 ...

Clean water may not be as exciting as AI or automation and electrification as far as long-term secular trends go, but a growing population needs clean water to survive and companies that provide machinery and technology to ensure clean water supplies are likely to see above-average growth for some time to come. That doesn't mean that the growth will come as an unbroken upward march, though, and the weakness in reported results that I expected from Franklin Electric (NASDAQ:FELE) when I last wrote about this ...

Franklin Electric (FELE) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.27 per share a year ago. These figures are adjusted for non-recurring items. Franklin Electric, which belongs to the Zacks Manufacturing - Electronics industry, posted revenues of $543.26 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.86%. This compares to year-ago revenues of $569.18 million. The company ha ...

Consolidated net sales of $543.3 million, a decrease of 5% to the prior year, with lower sales across all three segments Operating income was $79.1 million with operating margin of 14.6% GAAP fully diluted earnings per share (EPS) was $1.26 Second quarter 2024 net sales were $543.3 million, compared to second quarter 2023 net sales of $569.1 million. Second quarter 2024 operating income was $79.1 million, compared to second quarter 2023 operating income of $80.9 million. Second quarter 2024 EPS was $1.26, v ...