Franklin Electric: 2Q Earnings Snapshot
FORT WAYNE, Ind. (AP) _ Franklin Electric Co. (FELE) on Tuesday reported second-quarter profit of $32.7 million.
On a per-share basis, the Fort Wayne, Indiana-based company said it had net income of 70 cents.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The water and fuel pumping systems company posted revenue of $355.3 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $356.6 million.
Franklin Electric expects full-year earnings in the range of $2.15 to $2.25 per share.
Franklin Electric shares have risen nearly 7% since the beginning of the year. The stock has fallen 2% in the last 12 months.