Franklin Electric climbs on upbeat 2022 forecast

FRANKLIN ELECTRIC

15/02/2022 16:56

** Shares of water and fueling solutions provider  FELE.O 
up nearly 4% at $88
    ** Co forecasts 2022 adj. EPS between $3.50 and $3.75, above
Refinitiv IBES est. of $3.33
    ** FELE sees 2022 revenue between $1.90 bln and $2.05 bln
compared with analyst est. of $1.75 bln 
    ** Co sees growth across segments, particularly in the
distribution unit, which saw sales rise 50% in Q4
    ** Expects benefits from recent acquisitions of a
distribution co and a water treatment business
    ** FELE shares have lost 10.5% so far this year 

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))