- Franklin Electric (NASDAQ:FELE) reported Q2 sales growth of 3.3% Y/Y to $355.34M, and EPS before restructuring expenses grew by 8%.
- Net sales by segments: Water $205M (-3% Y/Y); Fueling $78M (+7% Y/Y); and Distribution $87.1M (+10% Y/Y).
- Water sales by geography: Unites Sates & Canada $117.9M (flat); Latin America $29.4M (+2% Y/Y); EMEA $39M (-14% Y/Y); and Asia Pacific $18.7M (-2% Y/Y).
- Q2 Gross margin declined slightly by 5 bps to 33.7%; and operating margin improved by 53 bps to 12.3%.
- SG&A expenses were $75.78M (+1.1% Y/Y); and as percentage of sales 21.3% down by 47 bps.
- Net cash flows from operating activities YTD $4.15M, compared to $5.17M a year ago.
- Company has Cash and equivalents of $40.99M as of June 30, 2019.
- Company mentioned U.S. and Canada, sales of groundwater products, continue to be adversely impacted by the record precipitation during the first half of the year.
- FY19 Guidance: EPS range between $2.15 to $2.25 (prior$ 2.37 to $2.47).
- Previously: Franklin Electric declares $0.145 dividend (July 22)
- Previously: Franklin Electric EPS in-line, misses on revenue (July 23)
More on Franklin Electric's Q2 results; lowers FY19 EPS guidance
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Symbol | Last Price | % Chg |
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FELE | - | - |
Franklin Electric Co., Inc. |