Franklin Electric Co., Inc. (FELE) Q3 2024 Earnings Call Transcript
Franklin Electric Co., Inc. (NASDAQ:FELE ) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET Company Participants Jeffery Taylor - Chief Financial Officer Joseph Ruzynski - Chief Executive Officer Conference Call Participants Bryan Blair - Oppenheimer & Co. Inc. Ryan Connors - Northcoast Research Partners Michael Halloran - Robert W. Baird & Co. Incorporated Walter Liptak - Seaport Global Partners Ryan Connors - Northcoast Research Operator Hello, and welcome to the Franklin Electric Reports Third Quarter 2024 Sales and Earnings Conference Call.
Franklin Electric (FELE) Misses Q3 Earnings and Revenue Estimates
Franklin Electric (FELE) came out with quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.23 per share a year ago.
EMR or FELE: Which Is the Better Value Stock Right Now?
Investors with an interest in Manufacturing - Electronics stocks have likely encountered both Emerson Electric (EMR) and Franklin Electric (FELE). But which of these two stocks presents investors with the better value opportunity right now?
Trends Should Start Flowing In A Better Direction For Franklin Electric
Q2 saw soft revenue due to weather delays and destocking (likely tied to softening construction and resource demand), but water treatment and surface pumping showed encouraging growth. Short-term headwinds in markets like agriculture, construction, and resources could persist a little longer, but FELE benefits from the growing need for clean water and is poised for above-average growth. Shares aren't cheap, but strong margin performance and above-average long-term secular growth opportunities argue for a premium multiple and this is definitely a watch-list name.
Franklin Electric: Improving Growth Prospects With Favourable Valuation (Rating Upgrade)
Franklin Electric Co., Inc. has strong revenue growth prospects ahead, with improving sales expected in the second half of the year. The company's margin should benefit from operating leverage and cost-saving initiatives. Trading at a discount to historical averages, Franklin Electric is poised for growth with easing year-over-year comparisons and potential interest rate cycle reversal.
Franklin Electric Co., Inc. (FELE) Q2 2024 Earnings Call Transcript
Franklin Electric Co., Inc. (NASDAQ:FELE ) Q2 2024 Earnings Conference Call July 23, 2024 9:00 AM ET Company Participants Jeff Taylor - Chief Financial Officer Gregg Sengstack - Executive Chairperson Joe Ruzynski - Chief Executive Officer Conference Call Participants Walter Liptak - Seaport Global Matt Summerville - D.A. Davidson Operator Hello, and welcome to the Franklin Electric Reports Second Quarter 2024 Sales and Earnings Conference Call.
Franklin Electric (FELE) Misses Q2 Earnings and Revenue Estimates
Franklin Electric (FELE) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.27 per share a year ago.
Jump Financial LLC Takes $740,000 Position in Franklin Electric Co., Inc. (NASDAQ:FELE)
Jump Financial LLC bought a new position in Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,653 shares of the industrial products company’s stock, valued at approximately $740,000. Several other hedge funds and other institutional investors have also modified their holdings of the stock. Running Oak Capital LLC raised its stake in Franklin Electric by 17.9% during the fourth quarter. Running Oak Capital LLC now owns 92,593 shares of the industrial products company’s stock worth $8,949,000 after acquiring an additional 14,074 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Franklin Electric by 37.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 26,778 shares of the industrial products company’s stock valued at $2,588,000 after purchasing an additional 7,325 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Franklin Electric by 23.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,332 shares of the industrial products company’s stock valued at $2,171,000 after buying an additional 4,582 shares in the last quarter. US Asset Management LLC bought a new stake in Franklin Electric during the fourth quarter worth about $221,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Franklin Electric during the third quarter worth approximately $767,000. Institutional investors own 79.98% of the company’s stock. Franklin Electric Stock Down 0.4 % NASDAQ FELE opened at $99.95 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.17 and a current ratio of 2.85. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $107.89. The stock has a market capitalization of $4.61 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The stock has a fifty day moving average of $102.11 and a 200-day moving average of $97.15. Franklin Electric (NASDAQ:FELE – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). The firm had revenue of $460.90 million for the quarter, compared to the consensus estimate of $477.64 million. Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.27 EPS for the current year. Franklin Electric Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Wednesday, May 1st. Franklin Electric’s payout ratio is 24.88%. Insider Activity In related news, insider Delancey W. Davis sold 2,214 shares of Franklin Electric stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the sale, the insider now directly owns 8,014 shares of the company’s stock, valued at $817,908.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Gregg C. Sengstack sold 10,366 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the transaction, the chief executive officer now directly owns 154,993 shares in the company, valued at approximately $15,493,100.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 2,214 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the sale, the insider now owns 8,014 shares in the company, valued at $817,908.84. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders. Wall Street Analysts Forecast Growth FELE has been the topic of several recent analyst reports. StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. DA Davidson boosted their price objective on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Robert W. Baird raised their target price on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Friday, February 23rd. View Our Latest Research Report on FELE Franklin Electric Company Profile (Free Report) Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment. See Also Five stocks we like better than Franklin Electric Dividend Screener: How to Evaluate Dividend Stocks Before Buying MarketBeat Week in Review – 5/13 – 5/17 What is the Hang Seng index? Take-Two Interactive Software Offers 2nd Chance for Investors Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
