Financial Data and Key Metrics Changes - The company reported record financial results for the first quarter, including net sales of $333 million, gross profit of $115.5 million, operating income, net income, and earnings per share (EPS) of $0.59, compared to $266.8 million in sales and $0.23 EPS in Q1 2020 [6][18][20]. - Gross profit margin improved to 34.7% from 33.9% year-over-year, driven by better price realization and cost management [27]. Business Line Data and Key Metrics Changes - Water Systems business achieved a record revenue growth of 20%, with organic growth of 18%, driven by strong demand in housing and commodity recovery [7][10]. - Distribution segment saw a remarkable revenue increase of 58%, with 31% organic growth, attributed to favorable weather and the Gicon acquisition [11][24]. - Fueling Systems revenue grew by 3% overall and 1% organically, with significant growth in Europe, the Middle East, and Africa [14][26]. Market Data and Key Metrics Changes - In the U.S., groundwater pumping systems revenue increased by 24%, with organic growth in Water Systems at 11% [10]. - Outside the U.S., organic Water Systems growth was 26%, particularly strong in Latin America, the Middle East, and Asia Pacific [10][22]. - Fueling Systems revenues outside North America increased by 7%, driven by higher sales in Latin America and EMEA [26]. Company Strategy and Development Direction - The company aims to grow as a global provider of water and fuel systems through geographic expansion and product line extensions [6]. - Recent acquisitions in water treatment are seen as a strategic move to tap into a fragmented market and leverage existing distribution channels [60][62]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong demand across most end markets, despite challenges from the pandemic and raw material inflation [5][31]. - The company raised its full-year revenue guidance to $1.45 billion to $1.48 billion and EPS guidance to $2.80 to $3, based on strong Q1 results and acquisitions [16][30]. Other Important Information - The company ended Q1 2021 with a cash balance of $118.3 million and generated $5.4 million in net cash flows from operations [32]. - A quarterly cash dividend of $0.175 was announced, with share repurchases totaling $1.1 million during the quarter [33]. Q&A Session Summary Question: What are the underlying supply chain trends and pricing outlook? - Management acknowledged ongoing global supply chain challenges and significant raw material inflation, indicating plans for price adjustments [34][35]. Question: Are there any product shortages impacting market supply? - Management confirmed that supply chain pressures are affecting the entire business, not just specific segments [38]. Question: What is the guidance for top-line growth moving forward? - Management expects strong organic growth but does not anticipate the same growth rates as Q1 for the remainder of the year [41]. Question: What is the outlook for the distribution segment's profitability? - Management expects robust organic growth and operating income margins in the range of 4% to 6% for the distribution segment [47][50]. Question: How sustainable is the profitability in the Fueling Systems business? - Management indicated that strong cost management and price realization contributed to profitability, which is expected to continue [51]. Question: What was the impact of the Texas weather situation on revenue? - Management estimated that the Texas weather and preemptive buying contributed approximately $6 million to $7 million in revenue [52]. Question: What is the status of the Puronics acquisition and future M&A landscape? - Management sees the Puronics acquisition as a strategic fit and anticipates continued opportunities in the fragmented water treatment market [59][62].

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, 2020 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 o ...

Financial Data and Key Metrics Changes - The company reported record sales and earnings in Q4 2020, with earnings per share (EPS) increasing 36% to $0.57, a record for any fourth quarter [6][18] - For the full year 2020, net sales declined by about 5%, but operating income increased by 3% compared to 2019 [7] - Free cash flow from operations reached a record $189 million in 2020, approximately 187% of net income [7][27] Business Line Data and Key Metrics Changes - The Water Systems business experienced 4% organic growth in Q4 2020, with record operating income and margin [6] - The Distribution business saw a 21% organic sales increase, achieving profitability for the first time in its history [6][22] - Fueling Systems revenue declined about 15% in Q4 2020, with a record operating income margin of 28.7% due to fixed cost management [14][15][23] Market Data and Key Metrics Changes - US Water Systems organic growth was 7% when excluding Dewatering Pumps, while outside the US, growth was 4% led by Latin America, Africa, and the Middle East [9] - The Fueling Systems business in China saw a significant decline of about 66% compared to Q4 2019 [14] Company Strategy and Development Direction - The company completed two strategic acquisitions in 2020, enhancing growth platforms for 2021 and beyond [8] - The strategy focuses on geographic expansion and product line extensions in Water and Fuel Systems [8][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in mid single-digit organic growth for Water Systems and Distribution segments in 2021 [13] - The company anticipates overall revenue growth of approximately 10% in 2021, with EPS expected to be in the range of $2.50 to $2.75 [17] Other Important Information - The company announced a 13% increase in its quarterly cash dividend to $0.175 per share [28] - The effective tax rate for 2021 is estimated to be 18.5% [26] Q&A Session Summary Question: Price realization and inflation offset in 2021 - Management expects to offset inflation in 2021 but does not anticipate achieving the same level of price realization as in 2020 [30] Question: International Fueling business activity - Management noted increased station build-out in Latin America, Southern Africa, and India, with ongoing opportunities [31][32] Question: Outlook for North America residential vs. Ag markets - The company expects strong residential growth, with some positive indicators for the agricultural market [34] Question: Impact of Distribution acquisition - The acquisition strengthens the company's market position in Texas and complements previous acquisitions, enhancing operational efficiency [36][39] Question: M&A outlook - The company has a robust pipeline of M&A opportunities focused on geographic expansion and product line extensions [42] Question: Cost structure in Fuel Systems - Management indicated that while some cost savings from 2020 may return, they will ensure readiness for international opportunities [46]

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, 2020 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 reported record fully diluted earnings per share of $0.82 for Q3 2020, compared to $0.72 in Q3 2019, marking an increase of approximately 14% [14] - Total sales for Q3 2020 were $351.2 million, a slight increase of 1% from $348.4 million in Q3 2019, despite a $10.4 million decrease due to foreign currency translation [15][16] - The gross profit for Q3 2020 was $124.3 million, up from $117.6 million in Q3 2019, with a gross profit margin of 35.4% compared to 33.8% in the previous year [20] Business Line Data and Key Metrics Changes - Water Systems sales in the U.S. and Canada were flat year-over-year, with groundwater pumping equipment sales increasing by about 17% and surface pumping equipment by about 8% [16] - Outside the U.S. and Canada, Water Systems organic sales increased by 15%, driven by growth in Latin America, Europe, and Asia Pacific [17] - Fueling Systems sales in the U.S. and Canada decreased by about 5%, while outside the U.S. and Canada, revenues declined by about 27% [18] - Distribution sales reached a record $98 million in Q3 2020, up from $87 million in Q3 2019, with organic sales increasing by 13% [19] Market Data and Key Metrics Changes - The company experienced strong demand in Brazil and Turkey, contributing to double-digit organic growth outside the U.S. [8] - The Fueling Systems business is recovering slowly, with revenue down 7% outside of China, and a 5% decline in the U.S. and Canada [9][10] - The U.S. distribution business performed well, with uniform sales gains across the country, except for the upper Midwest [10] Company Strategy and Development Direction - The company is focused on maintaining strong operating performance and improving cash flow, with a forecast for fourth-quarter operating earnings to be up 10% to 15% over the previous year [13] - The management is optimistic about the recovery in the Chinese economy and expects additional upgrades in fuel vapor monitoring systems in gas stations [12] - The company is considering M&A opportunities, particularly in the distribution segment, to enhance geographic presence and consolidate the market [41] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating performance continues to improve despite challenges from the pandemic, with strong demand in groundwater and plumbing HVAC businesses [6][11] - The company anticipates mid-single-digit revenue declines in Water Systems and around 10% decline in Fueling Systems for Q4, while Distribution revenue is expected to increase by about 10% [13] - Management expressed confidence in the sustainability of demand across various markets, with good contractor backlogs and favorable weather conditions [25][26] Other Important Information - The company announced a quarterly cash dividend of $0.150, payable on November 19, 2020 [22] - The effective tax rate for 2020 is expected to be between 18% and 20% [21] - The company ended Q3 2020 with a cash balance of $114.5 million and generated $118.5 million of free cash flow from continuing operations during the first nine months of 2020 [21] Q&A Session Summary Question: Trends in the fourth quarter for the water side and sustainability - Management indicated that the underlying dynamics from Q3 are expected to continue into Q4, with good demand in both residential and agricultural groundwater markets [25] Question: Inventory levels and early buying - Management noted that inventory levels are not particularly robust due to supply chain struggles, and they cannot comment on early buying trends [27] Question: M&A landscape and cash usage priorities - The company is actively looking at M&A opportunities and remains focused on accretive acquisitions while maintaining a strong cash position [28][29] Question: Fueling margins and scenarios for future performance - Management highlighted that margins are holding up well due to price realization and controlled SG&A expenses, with expectations for future performance dependent on market conditions [31][32] Question: Environmental impacts on Fueling business - Management acknowledged the potential risks from the shift towards electric vehicles but emphasized the continued relevance of liquid fuels and their systems in the market [35][39] Question: Dewatering business revenue outlook - The company expects the dewatering business to generate around $60-$65 million in 2020, with cautious optimism for international traction [44] Question: Fueling business in China and environmental mandates - Management projected Fueling Systems revenue in China for 2020 to be between $17 million and $20 million, with expectations for stabilization and volume traction in 2021 [49][50]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________ Indiana 35-0827455 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(b) of the Act: Common Stock, $0.10 par value FELE NASDAQ Global Select Market (Title of each class) (Trading symbol) (Name of each exchange on which registered) FORM 10-Q _________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Financial Data and Key Metrics Changes - The company's fully diluted earnings per share (EPS) for Q2 2020 was $0.52, down from $0.70 in Q2 2019, representing a decline of approximately 26% [25] - Total sales for Q2 2020 were $308.3 million, a decrease of 13% compared to $355.3 million in Q2 2019 [27] - The gross profit for Q2 2020 was $107.1 million, down from $119.7 million in Q2 2019, while the gross profit margin improved to 34.7% from 33.7% due to better price realization and product sales mix [33] Business Line Data and Key Metrics Changes - Water Systems sales in the U.S. and Canada decreased by 16% overall, primarily due to a nearly 70% decline in dewatering equipment sales [28] - Fueling Systems sales in the U.S. and Canada decreased by 22%, with a 35% decline outside the U.S. and Canada, driven by reduced demand for new filling stations [31] - Distribution segment sales reached a record $92.1 million, up 6% compared to Q2 2019, with operating income increasing to $6.8 million from $4.5 million [32] Market Data and Key Metrics Changes - Water Systems sales outside the U.S. and Canada decreased by 9% overall, with organic sales increasing by 3% in key markets like Latin America and Asia Pacific [30] - The company experienced a foreign currency translation impact that decreased sales by 12% [29] - The strengthening of the U.S. dollar negatively affected the translation of foreign currency-denominated sales and earnings [20] Company Strategy and Development Direction - The company is focusing on reducing working capital and improving free cash flow, which exceeded net income for the first half of 2020 [14][36] - Management is optimistic about sequential improvements in sales for the second half of 2020, particularly in the Water Systems and Distribution segments [21][22] - The company is exploring M&A opportunities and has a robust pipeline for potential acquisitions [56] Management's Comments on Operating Environment and Future Outlook - Management noted that the global pandemic has significantly impacted demand for large dewatering pumps and has led to inventory destocking among customers [15][17] - The company has reinstated guidance for 2020 EPS between $1.75 and $1.90, reflecting increased uncertainty due to the pandemic [23][37] - Management expressed cautious optimism about recovery in Fueling revenues, particularly as gasoline consumption begins to recover [19] Other Important Information - The company announced a quarterly cash dividend of $0.155, payable on August 20, 2020 [40] - The effective tax rate for Q2 2020 was approximately 21%, up from 19% in Q2 2019 [35] Q&A Session Summary Question: Inventory levels and destocking - Management indicated that destocking was observed in the surface pumping business, but there are signs of stabilization and potential tailwinds in the second half of the year [42][46] Question: Sales guidance and expectations - The guidance reflects a range of outcomes, with expectations for modest revenue improvements in Water and Fueling segments [48][50] Question: Margin profile and cost-saving initiatives - The improvement in margins was attributed to a favorable product mix and aggressive SG&A cost management [52][54] Question: M&A opportunities and market consolidation - Management acknowledged the potential for acquisition opportunities among smaller, family-operated businesses under stress due to the pandemic [75][76] Question: Supply chain considerations - The company is evaluating its supply chain strategy, including potential insourcing of electronics to reduce lead times [86][87]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________ Indiana 35-0827455 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(b) of the Act: Common Stock, $0.10 par value FELE NASDAQ Global Select Market (Title of each class) (Trading symbol) (Name of each exchange on which registered) FORM 10-Q _________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Financial Data and Key Metrics Changes - The company's first quarter 2020 sales were $266.8 million, down 8% from $290.7 million in the first quarter of 2019 [27] - Operating income before restructuring expenses increased by 11% despite an 8% decrease in sales, with earnings per share before restructuring expenses rising 14% year-over-year [10][25] - The gross profit margin improved to 33.9% in Q1 2020 from 30.8% in Q1 2019, with gross profit increasing to $90.3 million from $89.5 million [32] Business Line Data and Key Metrics Changes - Water Systems revenue in the U.S. and Canada decreased by 14%, primarily due to a 54% drop in dewatering equipment sales [27][28] - Fueling Systems sales in the U.S. and Canada increased by 7%, while revenues outside the U.S. and Canada declined by 30%, particularly in Asia Pacific [30] - The Distribution segment saw organic sales increase by 13%, with sales rising to $60.4 million from $53.3 million year-over-year [31] Market Data and Key Metrics Changes - Organic sales in Latin America and EMEA showed robust growth, but this was not enough to offset declines in Asia Pacific, particularly in Korea, Japan, and China [11][29] - The company experienced a 20% average decline in weekly sales from mid-March through the end of April across both Water and Fueling Systems [22][75] - Headwater sales were down about 4%, but excluding the most affected states, sales were up 6% compared to the same period last year [23][77] Company Strategy and Development Direction - The company is focusing on reducing spending and accelerating restructuring activities in response to the pandemic's impact [21] - Management emphasized the importance of maintaining a conservative balance sheet and liquidity to navigate the current economic uncertainty [13][35] - The company is withdrawing its 2020 earnings guidance due to significant uncertainties in end markets [24][36] Management's Comments on Operating Environment and Future Outlook - Management noted that the pandemic has led to a decline in demand for large dewatering pumps and a reduction in customer purchases to manage inventory levels [16][17] - The company is optimistic about its ability to serve customers and meet market demands despite the challenges posed by the pandemic [24] - Management highlighted that the financial outlook for 2020 remains uncertain, with various factors impacting profitability and demand [21][36] Other Important Information - The company announced a quarterly cash dividend of $0.155, with no intention to suspend dividend payments [38] - Capital expenditures for 2020 are now estimated to be around $20 million, down from the previously guided $30 million [38] - The company has a cash balance of $40 million and total available borrowing capacity of $478 million, indicating strong liquidity [35] Q&A Session Summary Question: Differences in trends between Headwater and core water assets - Management noted that Headwater's sales growth is strong, while the core water business is experiencing destocking and negative order rates, particularly in large dewatering pumps [40][42] Question: Decremental margins and sustainability - Management indicated that while they are not ready to comment on decremental margins, they expect price achievement and lower raw material costs to support margins moving forward [46] Question: Impact of inventory destocking on working capital - Management acknowledged that inventory destocking is increasing working capital needs, but they are managing relationships with suppliers to mitigate risks [69][71] Question: Revenue decline in April - Management confirmed that revenue for Water and Fueling Systems segments is down about 20% compared to the same period last year [75][76] Question: Demand trends in China and Europe - Management reported that demand in China is returning to normal, while Europe has shown resilience with good performance in the first quarter [78][79] Question: Cost structure changes in response to slowdown - Management is cutting discretionary spending and accelerating restructuring initiatives to mitigate the impact of the slowdown [80][81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________ (Title of each class) (Trading symbol) (Name of each exchange on which registered) 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, 2019 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. ...