Franklin Electric Q2 Earnings Up; Reaffirms FY25 Outlook; Plans Pension Plan Termination

Franklin Electric

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Kaufen Verkaufen

(RTTNews) - Franklin Electric Co., Inc. (FELE), a manufacturing and distributing systems and technologies company, on Tuesday announced that net income attributable to the company increased in the second quarter compared with the previous year.

For the second quarter, net income attributable to the company increased to $60.14 million from $59.10 million in the previous year.

Earnings per share were $1.31 versus $1.26 last year.

Operating income climbed to $88.14 million from $79.15 million in the prior year.

Net sales increased to $587.43 million from $543.26 million in the previous year.

Looking ahead, the company reaffirmed its full-year 2025 guidance.

The company expected full-year sales to range between $2.09 billion and $2.15 billion.

The earnings per share for the full year are anticipated to range between $3.95 and $4.25.

The company expects to terminate its U.S. Pension Plan in the third quarter, which will result in a non-cash earnings per share impact of approximately $1.00. This impact is not reflected in the current guidance.

On Monday, Franklin Electric closed trading 0.54% higher at $93.39 on the Nasdaq.