Franklin Electric plunges after reporting inflationary, supply chain snags

FRANKLIN ELECTRIC

26/04/2022 18:00

** Industrial machinery maker's shares  FELE.O  down 10% at
$72.03 in afternoon trade
    ** Stock trading at its lowest since Feb 2021 
    ** Co reports Q1 profit of 63 cents/share, in line with Wall
Street estimates, according to Refinitiv data  urn:newsml:reuters.com:*:nASA03869
    ** FELE said supply chain and inflationary challenges
persisted during Q1, pressurizing its margins  
    ** Co maintains its FY22 sales guidance, sees revenue
between $1.90 bln and $2.05 bln 
    ** Including session loss, shares down 23.8% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))