Franklin Electric Co Inc reports results for the quarter ended in June - Earnings Summary

FRANKLIN ELECTRIC

23/07/2024 14:01

* Franklin Electric Co Inc  FELE.OQ  reported quarterly
adjusted
earnings of $1.26​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $1.27.  The mean expectation of five analysts for the
quarter was for earnings of $1.32 per share. Wall Street
expected results to range from $1.28  to $1.37 per share.
    * Revenue fell 4.6% to $543.26 million from a year ago;
analysts
expected $569.91 million. 
    * Franklin Electric Co Inc's reported EPS for the quarter
was
$1.26​.
    * The company reported quarterly net income of $59.1
million.
    * Franklin Electric Co Inc shares had risen by 8.3% this
quarter and gained 7.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Franklin Electric
Co Inc is $106.00 
This summary was machine generated from LSEG data July 23 at
01:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.32           1.26           Missed
 Mar. 31 2024      0.74           0.70           Missed
 Dec. 31 2023      0.84           0.83           Missed
 Sep. 30 2023      1.29           1.24           Missed