Franklin Electric: Sees flat 2020 fueling systems revenue, shares down

FRANKLIN ELECTRIC

18/02/2020 17:05

** Shares of fuel pumping systems manufacturer  FELE.O  down
~2% at $59.73 
    ** Expects revenue in Fueling Systems segment to be flat in
2020 due to significant decline in China  urn:newsml:reuters.com:*:nGNXbjC6CN
    ** Estimates 2020 earnings per share before restructuring
charges to be between $2.25 and $2.35; brokerage DA Davidson
calls it softer than anticipated
    ** DA Davidson says it had concerns regarding potential
outlook within its China Fueling and dewatering businesses,
which appear to have prompted a more subdued outlook
    ** FELE reports Q4 adj. profit of 43 cents/shr, missing est.
of 51 cents/shr - Refinitiv IBES
    ** Outside U.S. and Canada, co says revenue in Fueling
Systems segment was flat, as increased sales in Europe, India
and Latin America were offset by lower sales in China
    ** Avg. rating on stock is "hold"; median PT is $53
    ** Stock up ~4% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
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