Franklin Electric Co., Inc. Revises Earnings Guidance for the Full Year of 2021
May 17, 2021 at 11:04 am EDT
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Franklin Electric Co., Inc. revised earnings guidance for the full year of 2021. The company announced that it has acquired New Aqua, LLC and its wholly owned subsidiaries, headquartered in Indianapolis, Indiana in an all-cash transaction valued at $150 million, subject to customary adjustments. The transaction is expected to be accretive to earnings per share (EPS) in 2021 in the range of $0.04 per share to $0.06 per share. As a result, the company has revised its full year 2021 earnings per share before restructuring expenses guidance to be in the range from $2.85 to $3.05.
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. 
