Franklin Electric (FELE) Misses Q1 EPS by 19c, Revenues Miss; Affirms FY19 EPS Mid-Point Guidance Above Consensus
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Franklin Electric Reports First Quarter 2019 Sales and Earnings
April 23, 2019 8:01 AM EDTFORT WAYNE, Ind., April 23, 2019 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) reported first quarter 2019 GAAP fully diluted earnings per share (EPS) of $0.19, versus a GAAP fully diluted EPS in the first quarter 2018 of $0.45. First quarter 2019 sales were $290.7 million, compared to 2018 first quarter sales of $295.6 million. First quarter EPS before the impact of restructuring expenses was $0.21 compared to 2018 first quarter EPS before restructuring of $0.45 (see table below for a reconciliation of GAAP EPS to EPS before restructuring).  In the first quarter of 2018, the Company recognized discrete income tax benefits of about $5 million which... More
