Updated market report: Franklin Electric Co., Inc. (NASDAQ: FELE)

On 23 March 2020, Franklin Electric Co., Inc. stock identified change of 5.05% away from 52-week low price and recently located move of -27.32% off 52-week high price. It has market worth of $2151.82M and dividend yield of 1.39%. FELE stock has been recorded -20.48% away from 50 day moving average and -12.60% away from 200 day moving average. Moving closer, we can see that shares have been trading -12.51% off 20-day moving average.

Franklin Electric Co., Inc. (FELE) stated fourth quarter 2019 GAAP fully diluted earnings per share (EPS) of $0.42, versus a GAAP fully diluted EPS in the fourth quarter 2018 of $0.51.  Fourth quarter 2019 sales were $320.1M, contrast to 2018 fourth quarter sales of $316.7M.  Fourth quarter EPS before the impact of restructuring expenses was $0.43 contrast to 2018 fourth quarter EPS before restructuring of $0.52 (see table below for a reconciliation of GAAP EPS to EPS before restructuring).

Water Systems

Water Systems sales were $188.2M in the fourth quarter 2019, versus the fourth quarter 2018 sales of $196.9M.  In the fourth quarter of 2019, sales from businesses purchased since the fourth quarter of 2018 were $3.1M.  Water Systems sales reduced 3 percent in the quarter Because of foreign currency translation. Water Systems organic sales were lower by 3 percent contrast to the fourth quarter of 2018.

Water Systems sales in the U.S. and Canada reduced by 10 percent overall contrast to the fourth quarter 2018, primarily Because of lower sales volumes of dewatering equipment.  Sales of dewatering equipment reduced by nearly 50 percent Because of lower sales in rental channels and a surge of sales in the fourth quarter 2018 driven by regulatory demand.  Sales of groundwater pumping equipment increased by 4 percent versus the fourth quarter 2018.  The increase in groundwater pumping systems was primarily Because of increased sales of residential water systems. Sales of surface pumping equipment reduced by 5 percent on lower sales of both wastewater and water transfer systems.

Water Systems sales in markets outside the U.S. and Canada increased by 2 percent overall.  Foreign currency translation reduced sales by 6 percent.  Outside the U.S. and Canada, Water Systems organic sales increased by 8 percent, primarily driven by higher sales in Latin America, as well as increased sales in both the Europe, Middle East, and Africa markets, and the Asia Pacific markets.

Water Systems operating income was $24.5M in the fourth quarter 2019, contrast to $27.0M in the fourth quarter 2018 primarily driven by lower revenues.

Fueling Systems

Fueling Systems sales were $77.3M in the fourth quarter 2019 contrast to fourth quarter 2018 sales of $75.0M and were a record for any fourth quarter.  Fueling Systems sales reduced 1 percent in the quarter Because of foreign currency translation. Fueling Systems organic sales increased 4 percent contrast to the fourth quarter of 2018.

Fueling Systems sales in the U.S. and Canada increased by 7 percent contrast to the fourth quarter 2018.  The increase was principally in the pumping and fuel management systems product lines.  Outside the U.S. and Canada, Fueling Systems revenues were flat, as increased sales in Europe, India and Latin America were offset by lower sales in China.

Fueling Systems operating income was a record for any fourth quarter at $20.2M contrast to $17.0M in the fourth quarter of 2018.  Fueling Systems operating income was higher in the quarter primarily Because of favorable product sales mix.

Distribution

Distribution sales were $64.4M in the fourth quarter 2019, versus fourth quarter 2018 sales of $56.0M.  In the fourth quarter of 2019, sales from businesses purchased since the fourth quarter of 2018 were $4.8M.  The Distribution section organic sales increased 6 percent contrast to the fourth quarter of 2018.

The Distribution section recorded an operating loss of $2.5M in the fourth quarter of 2019, contrast to a loss of $2.9M in the fourth quarter of 2018.  Higher product costs not completely offset by price and higher operating expenses contributed to the Distribution section earnings loss.

 Franklin Electric Co., Inc. noticed change of 0.20% to $44.69 along volume of 209063 shares in recent session compared to an average volume of 223.95K. FELE’s shares are at -20.99% for the quarter and driving a -10.13% return over the course of the past year and is now at -22.03% since this point in 2018. The average volatility for the week at 12.68% and for month was at 7.46%. There are 48.15M shares outstanding and 38.55M shares are floated in market.

 

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