Franklin Electric Q3 Earnings Meet Views, Revenues Shy; Narrows FY EPS Guidance

Franklin Electric Co (FELE) reported Q3 adjusted earnings of $0.48 per share, up from $0.45 a year ago and in line with the average estimate from analysts polled by Capital IQ.

Revenue rose 3% to $239.8 million and missed the $243.6 million consensus.

“As we look forward to the fourth quarter, we expect continued strength in the North American end markets, but are cautious about certain international end markets in both our Water and Fueling segments,” CEO Gregg Sengstack said in a statement “Customer demand is uneven and economic and political uncertainty continues to negatively impact important markets for us around the world. Considering these factors, we are narrowing our full year 2016 adjusted earnings per share guidance to $1.62 to $1.67.”

Previously the company had expected adjusted FY EPS of $1.60 to $1.70 while analysts have been expecting EPS of $1.66.

By Caroline Williams