Franklin Electric Announces Earnings and Raises Guidance
FELE Franklin Electric Co Inc
$97.63 -1.26%
View chart & analysis → - 1Franklin Electric raised its guidance for the second consecutive quarter alongside its earnings announcement.
- 2Franklin Electric's revenue of $633.6 million this quarter exceeded estimates by 4.9%.
- 3Management cited factory relocation inefficiencies, rising inventory values, and raw material and transportation inflation.
So what's the key point?
Franklin Electric announced that it earned more money than expected. Revenue was 4.9% higher than expert estimates, so the company has set better plans for the future.
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