Franklin Electric Co., Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 27, 2021 at 08:01 am EDT
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Franklin Electric Co., Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 437.280 million compared to USD 308.281 million a year ago. Operating income was USD 51.601 million compared to USD 33.933 million a year ago. Net income was USD 39.141 million compared to USD 24.651 million a year ago. Basic earnings per share from continuing operations was USD 0.84 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.83 compared to USD 0.52 a year ago. For the half year, sales was USD 770.326 million compared to USD 575.035 million a year ago. Operating income was USD 85.392 million compared to USD 47.754 million a year ago. Net income was USD 67.021 million compared to USD 35.294 million a year ago. Basic earnings per share from continuing operations was USD 1.44 compared to USD 0.76 a year ago. Diluted earnings per share from continuing operations was USD 1.42 compared to USD 0.75 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. 
