Franklin Electric Co Inc

FELE

Equity

ISIN US3535141028 / Valor 931820

NASDAQ (2024-11-22)

USD 109.06+2.27%

Franklin Electric Co Inc
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About company

Franklin Electric Co Inc is a globally recognized company specializing in the development and distribution of systems and components for the movement of water and energy. The company caters to a diverse clientele across residential, commercial, agricultural, industrial, municipal, and fueling sectors. With a reputation for technical innovation, Franklin Electric offers a comprehensive range of products and services designed to meet the varied needs of water and energy management. Its product portfolio is organized into distinct categories, including clean water solutions, water transfer, wastewater management, and energy systems, ensuring a focused approach to addressing the specific requirements of its customers. Through its commitment to quality and innovation, Franklin Electric has established itself as a key player in its field, providing essential services and products for the efficient and effective management of water and energy resources worldwide.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Franklin Electric Co Inc reported a revenue of $315.6 million for Q2 2024, which represents a 2% year-over-year decline. This decrease was primarily driven by a 2% organic decline in their Water Systems segment.

Segment Performance

In Q2 2024, Franklin Electric Co Inc's Fueling Systems segment saw a net sales decline of 9% year-over-year, amounting to $73.1 million. This decline was entirely organic, reflecting challenges in the market.

First Half Results

For the first half of 2024, Franklin Electric Co Inc reported total net sales of $602.2 million in their Water Systems segment, marking a 4% year-over-year decline. The organic decline for this period was 5%.

Distribution Segment

Franklin Electric Co Inc's Distribution segment reported net sales of $190.5 million for Q2 2024, a 1% year-over-year decline. The organic decline for this segment was 4%, indicating some market pressures.

Profit Margins

Despite the declines in revenue, Franklin Electric Co Inc maintained a strong balance sheet with a net debt-to-EBITDA ratio of approximately 0.2x as of June 30, 2024. This positions the company well for future investments and growth opportunities.

Summarized from source with an LLMView Source

Key figures

21.9%1Y

14.3%3Y

103%5Y

Performance

23.0%1Y

27.3%3Y

33.4%5Y

Volatility