Franklin Electric Co., Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 27, 2021 at 08:01 am EDT
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Franklin Electric Co., Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was USD 333.046 million compared to USD 266.754 million a year ago. Operating income was USD 33.791 million compared to USD 13.821 million a year ago. Net income was USD 27.880 million compared to USD 10.643 million a year ago. Basic earnings per share from continuing operations was USD 0.6 compared to USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.23 a year ago.
Franklin Electric Co., Inc. designs, manufactures and distributes water and fuel pumping systems, composed primarily of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment. The Companyâs water pumping systems move fresh and wastewater to the residential, agricultural and other industrial end markets. The Company's segments include Water Systems, Fueling Systems, and Distribution. Water Systems produces and markets water pumping systems and is a technical service for submersible motors, pumps, drives, electronic controls, water treatment systems, and monitoring devices. The Fueling Systems segment designs, manufactures and sells pumps, motors, pipe, sumps, fittings, vapor recovery components, electronic controls, monitoring devices and related parts and equipment primarily for use in fueling system applications. The Distribution segment operates as a collection of wholly owned groundwater distributors known as the Headwater Companies.
FRANKLIN ELECTRIC CO., INC. 
