Franklin Electric(FELE) - 2024 Q1 - Quarterly Results

Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE DISTRIBUTION Distribution net sales were $147.0 million, an increase of $4.0 million or 3 percent compared to the first quarter 2023. Sales increases were driven by higher volumes and the sales from a recent acquisition, partially offset by unfavorable pricing of commodity-based products sold through the business. The Distribution segment operating income decreased to $1.8 million in the first quarter 2024 compared to first quarter 2023 operating income of $4.7 millio ...