Franklin Electric Reports First Quarter 2019 Sales and Earnings
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Franklin Electric (FELE) Misses Q1 EPS by 19c, Revenues Miss; Affirms FY19 EPS Mid-Point Guidance Above Consensus
April 23, 2019 8:03 AM EDTFranklin Electric (NASDAQ: FELE) reported Q1 EPS of $0.21, $0.19 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $290.7 million versus the consensus estimate of $305.52 million.
Gregg Sengstack, Franklin Electrics Chairman and Chief Executive Officer, commented:
Our first quarter 2019 net sales results were meaningfully below our expectations and were the primary driver of our lower earnings in the quarter. The key factors that contributed to the lower than expected net sales included adverse winter weather conditions in North America that hurt all our operating segments, and weak international end... More
