FORT WAYNE, Ind., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ:FELE) will release its fourth quarter and fiscal year 2023 earnings at 8:00 am ET on Tuesday, February 13, 2024. A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The fourth quarter and fiscal year 2023 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/y88zfrpv For ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 0-362 FRANKLIN ELECTRIC CO., INC. (Exact name of registrant as specified in its charter) Indiana 35-0827455 (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR FORM 10-Q _________ ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 0-362 (Exact name of registrant as specified in its charter) Indiana 35-0827455 (State or other jurisdiction of incorporat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 0-362 FRANKLIN ELECTRIC CO., INC. (Exact name of registrant as specified in its charter) Indiana 35-0827455 (State or oth ...

Financial Data and Key Metrics Changes - The company achieved record first quarter consolidated sales of $484.6 million, a year-over-year increase of 7% despite a 3% headwind from foreign currency translation [6][10] - Gross profit for the first quarter was $162.3 million, representing a 12% year-over-year increase, with gross profit as a percentage of net sales rising to 33.5% from 32.2% [9][93] - Operating income for the first quarter was $52.6 million, up 32% from $39.9 million in the prior year, despite a foreign exchange headwind of approximately $3 million [10][93] - The effective tax rate was 21% for the quarter, compared to 20% in the prior year [84] Business Line Data and Key Metrics Changes - Water Systems segment delivered record first quarter sales and operating income, with revenues growing 12% and operating income increasing 48% [90] - Distribution segment's first quarter sales were a record $143 million, a 6% increase from $134.9 million in the prior year, but operating income decreased by $4.7 million year-over-year [7][101] - Fueling Systems sales reached $72.7 million, with a 4% increase in the US and Canada, despite a 1% decrease due to foreign currency translation [8][102] Market Data and Key Metrics Changes - Water Systems sales in the US and Canada increased by 21% year-over-year, driven by price and volume [6] - Outside the US and Canada, Water Systems sales were flat overall, with a 12% decrease due to foreign currency translation [32] - The distribution segment was negatively impacted by weather conditions, which delayed contractor installations [29][33] Company Strategy and Development Direction - The company is focused on a balanced capital allocation strategy, including internal investments and monitoring M&A opportunities [30] - Management emphasized the importance of sustainability and employee well-being, with a sustainability report expected to be released soon [5] - The company plans to invest in expanding its footprint and developing new products, which may put pressure on operating margins but is expected to drive growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's growth trajectory, citing improved supply chain conditions and a positive outlook for the remainder of the year [39][40] - The company raised its full-year 2023 sales guidance to a range of $2.15 billion to $2.25 billion and EPS guidance to between $4.25 and $4.45 [92] - Management acknowledged ongoing macroeconomic and geopolitical pressures but remains optimistic about demand in key markets [92] Other Important Information - The company announced a quarterly cash dividend of $0.225, payable on May 18 to shareholders of record as of May 4 [11] - The remaining share repurchase authorization is approximately 1.1 million shares [11] Q&A Session Summary Question: Any changes in macro assumptions or channel inventory? - Management noted no significant shifts in macroeconomic perspectives and indicated that the business is moving forward positively as it enters Q2 [38] Question: Insights on water treatment results and sales expectations? - Management expressed caution regarding near-term results due to residential exposure and macro sensitivity but indicated positive order patterns into early Q2 [12] Question: Outlook for margin expansion in water treatment? - Management expects margins to remain in the low double-digit range while investing in business expansion and new product development [13] Question: Year-over-year pricing realization and expectations for 2023? - Management anticipates moderation in year-over-year price impact as they lap previous price increases, expecting low to mid single-digit price realization in the latter half of the year [16] Question: Comments on M&A environment and expectations? - Management highlighted a separation in price expectations between buyers and sellers, indicating a cautious approach to M&A opportunities [17] Question: Insights on Water Systems margins and sales trends? - Management noted strong sales in the Water Systems segment, with expectations for continued growth driven by robust demand [20][47]

Investor Presentation 1Q-2023 | --- | --- | |-------|-------| | | | | | | STRATEGIC FOCUS: To grow as a global provider of water and fuel systems, through geographic expansion and product line extensions, leveraging our global platform and competency in system design. Investment Highlights1 4 1) At 12/31/21 WATER SYSTEMS $1,158M (54%) FUELING SYSTEMS $334M (15%) 5 | --- | --- | --- | |-----------------------------------------------------------------|---------------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K _________ ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 0-362 FRANKLIN ELECTRIC CO., INC. (Exact name of registrant as specified in its charter) Indiana 35-0827455 (State or other ju ...

Franklin Electric Co., Inc. (NASDAQ:FELE) Q4 2022 Results Conference Call February 14, 2023 9:00 AM ET Company Participants Jeff Taylor - Chief Financial Officer Gregg Sengstack - Chairperson and Chief Executive Officer Conference Call Participants Mike Halloran - R.W. Baird Matt Summerville - D.A. Davidson Walter Liptak - Seaport Global Operator Good day. And welcome to the Franklin Electric Reports Fourth Quarter 2022 Sales and Earnings Conference Call. At this time, all participants are in a listen only ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________ FORM 10-Q _________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 0-362 FRANKLIN ELECTRIC CO., INC. (Exact name of registrant as specified in its charter) Indiana 35-0827455 ...

Financial Data and Key Metrics Changes - The company achieved record third quarter performance with consolidated sales of $551.7 million, a 20% increase from $459 million in Q3 2021 [24] - Fully diluted earnings per share were $1.24 for Q3 2022, compared to $0.98 for Q3 2021 [23] - Consolidated operating income was $80 million, up 41% from $56.6 million in Q3 2021, with an operating income margin of 14.5% [37][38] Business Line Data and Key Metrics Changes - Water Systems segment reported a 12% revenue growth and a 25% increase in operating income, with an operating margin of 15.5% [11] - Distribution segment achieved record sales of $193.2 million, a 38% increase, and operating income of $19 million, up from $12.3 million [29] - Fueling Systems segment also reached record sales of $90.2 million, an 11% increase, with operating income growing to $28.6 million [30][33] Market Data and Key Metrics Changes - The backlog remains elevated at approximately $250 million, down $40 million from the previous quarter due to shipment progress and seasonality [8] - Organic growth in Water Systems outside the U.S. and Canada was 27%, driven by strong demand in Europe, the Middle East, and Africa [27] - Fueling Systems sales in India and EMEA increased, offsetting weaker sales in China [16][55] Company Strategy and Development Direction - The company is focused on reducing inventory levels and improving cash flow while navigating supply chain challenges [9] - Capital allocation strategy includes investments for growth and returning cash to shareholders through dividends and share repurchases [20] - The company aims to expand its product offerings, particularly in developing regions, to capitalize on strong global demand [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged inflationary pressures and geopolitical conflicts affecting supply chains but remains optimistic about long-term demand for water and fueling systems [18] - The company revised its full-year 2022 net sales guidance to between $2 billion and $2.1 billion, with earnings per share guidance adjusted to $4.08 - $4.18 [21] - Management expressed confidence in maintaining higher profitability in the distribution business despite potential seasonal fluctuations [44] Other Important Information - The effective tax rate for Q3 2022 was approximately 19%, with a projected full-year tax rate of about 21% [40] - A quarterly cash dividend of $0.195 was announced, payable on November 17 to shareholders of record on November 3 [40] Q&A Session Summary Question: Inquiry about distribution business profitability - Management indicated that distribution business profitability is expected to remain strong due to operating leverage, despite some mix-related challenges [42][44] Question: Comments on fueling business and project funnel - Management noted strong demand in fueling systems, with some indications of reduced capital deployment by marketers in 2023 [50] Question: Geographic variances in fueling sales - Management highlighted strong growth in India and EMEA, while sales in China have been weaker due to regulatory delays [52][55] Question: Variance between groundwater and surface pumping demand - Management explained that groundwater business has been strong due to dry conditions and demographic shifts, while surface pumping demand is driven by energy security investments [57][59] Question: Impact of water scarcity on business - Management stated that water scarcity is driving demand for larger and more efficient pumping systems, benefiting the company [81][84] Question: Inventory destocking cycle impact - Management acknowledged some destocking in the distribution business but emphasized strong demand and order visibility [86][88]