Franklin Electric(FELE) - 2024 Q1 - Quarterly Results

Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE DISTRIBUTION FRANKLIN ELECTRIC REPORTS FIRST QUARTER 2024 RESULTS First Quarter 2024 Highlights • Consolidated net sales of $460.9 million, a decrease of 5% to the prior year • Distribution net sales increased 3%, while Water Systems and Fueling Systems net sales decreased 7% and 15%, respectively • Operating income was $47.9 million with operating margin of 10.4% • GAAP fully diluted earnings per share (EPS) was $0.70 Fort Wayne, IN – April 30, 2024 – Franklin Electr ...