Franklin Electric(US:FELE)2025-02-18 13:00Sales Performance - Fourth quarter 2024 net sales were $485.7 million, a 3% increase from $473.0 million in the fourth quarter 2023[2] - Full year 2024 net sales totaled $2.0 billion, a 2% decrease from $2.1 billion in 2023[3] - Total net sales for Q4 2024 were $485.7 million, an increase of 2.7% compared to $473.0 million in Q4 2023[24] - Full year net sales for 2024 were $2,021.3 million, down 2.1% from $2,065.1 million in 2023[24] - Energy Systems segment net sales increased by 5% to $68.8 million in the fourth quarter 2024, with operating income reaching a record $24.7 million[9] - Distribution segment net sales rose by 6% to $157.2 million in the fourth quarter 2024, driven by higher volumes and a recent acquisition[8] - The company experienced a 9% increase in sales in the Asia Pacific region for Q4 2024[24] - Acquisitions contributed $7.1 million to consolidated net sales in 2024, reflecting a 2% increase[24] Operating Income and Margins - Fourth quarter 2024 operating income was $43.0 million, down from $50.8 million in the fourth quarter 2023, with an operating margin of 8.9%[6] - Operating income for Q4 2024 was $43.0 million, with an operating margin of 8.9%, compared to $50.8 million and 10.7% in Q4 2023[26][27] - For the full year 2024, operating income was $243.6 million, with a margin of 12.1%, compared to $262.4 million and 12.7% in 2023[28][29] - Water Systems segment net sales were flat at $279.6 million in the fourth quarter 2024, with operating income decreasing to $35.6 million from $44.1 million in the fourth quarter 2023[6] Earnings Per Share and Net Income - Full year 2024 EPS was $3.86, compared to $4.11 in 2023, reflecting a decline of 6%[3] - Net income for the twelve months ended December 31, 2024, was $181.6 million, a decrease of 6.1% from $194.7 million in 2023[23] Cash Flow and Financial Position - Cash flows from operating activities for 2024 were $261.4 million, down from $315.7 million in 2023[10] - Net cash flows from operating activities decreased to $261.4 million in 2024 from $315.7 million in 2023, reflecting a decline of 17.1%[23] - The company ended 2024 with a cash balance of $220.5 million, an increase of $135.5 million compared to the end of 2023[10] - The company reported a net change in cash and cash equivalents of $135.6 million for the year, increasing from $39.2 million in the previous year[23] Future Outlook - The company expects full year 2025 sales to be in the range of $2.09 billion to $2.15 billion, with EPS projected between $4.05 and $4.25[11] Segment Renaming - The company renamed its Fueling Systems segment to Energy Systems to better reflect its market focus[25]