Franklin Electric Reports Strong Q3
FORT WAYNE - Fort Wayne-based Franklin Electric Co. Inc. (Nasdaq: FELE) is reporting a third-quarter net income of $33.9 million, compared to the $30 million during the same period a year ago.
“Our third-quarter earnings were a record for any third quarter in the company’s history,” said Gregg Sengstack, Franklin Electric’s chairman and chief executive officer. “Our earnings per share grew by 14 percent from the third quarter of 2018. Our improvement in earnings was led by our Distribution segment which grew operating income by over 70 percent as a result of more favorable weather conditions in much of the United States and acquisitions.”
Sengstack says based on third-quarter results and their current view of our end markets, Franklin expects the fourth quarter to be similar to last year in both revenue and earnings.
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