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Franklin Electric Reports First Quarter 2020 Sales and Earnings and Provides an Update on Effects of the Global Pandemic

Franklin Electric Co., Inc. (FELE) 
Last franklin electric co., inc. earnings: 4/28 08:00 am Check Earnings Report
Company Research Source: GlobeNewswire
FORT WAYNE, Ind., April 28, 2020 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) reported first quarter 2020 GAAP fully diluted earnings per share (EPS) of $0.23, versus a GAAP fully diluted EPS in the first quarter 2019 of $0.19.  First quarter 2020 sales were $266.8 million, compared to 2019 first quarter sales of $290.7 million.  First quarter EPS before the impact of restructuring expenses was $0.24 compared to 2019 first quarter EPS before restructuring of $0.21 (see table below for a reconciliation of GAAP EPS to EPS before restructuring).  Gregg Sengstack, Franklin Electric’s Chairman and Chief Executive Officer, commented: “Our first quarter results were better than our expectations. While manufacturing revenue was down double digits, improved mix, margins and reduced operating expenses produced an improvement in our operating income that was higher than our expectations.  With more normal weather, our distribution revenue was ahead of expectations and resul Show less Read more
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