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Franklin Electric beats 2Q profit forecasts

FORT WAYNE, Ind. (AP) _ Franklin Electric Co. (FELE) on Tuesday reported second-quarter profit of $29.9 million.

On a per-share basis, the Fort Wayne, Indiana-based company said it had profit of 64 cents. Earnings, adjusted for non-recurring gains, were 58 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The water and fuel pumping systems company posted revenue of $305.3 million in the period.

Franklin Electric expects full-year earnings to be $1.87 to $1.97 per share.

Franklin Electric shares have increased slightly more than 8 percent since the beginning of the year. The stock has risen 12 percent in the last 12 months.

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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

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Keywords: Franklin Electric, Earnings Report