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Franklin Electric: 1Q Earnings Snapshot

FORT WAYNE, Ind. (AP) _ Franklin Electric Co. (FELE) on Tuesday reported first-quarter profit of $9.1 million.

On a per-share basis, the Fort Wayne, Indiana-based company said it had profit of 19 cents. Earnings, adjusted for restructuring costs, came to 21 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The water and fuel pumping systems company posted revenue of $290.7 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $302.4 million.

Franklin Electric expects full-year earnings in the range of $2.37 to $2.47 per share.

Franklin Electric shares have climbed 19 percent since the beginning of the year. The stock has increased 19 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FELE at https://www.zacks.com/ap/FELE