FORT WAYNE, Ind. (AP) — FORT WAYNE, Ind. (AP) — Franklin Electric Co. (FELE) on Tuesday reported third-quarter net income of $54.6 million.
The Fort Wayne, Indiana-based company said it had net income of $1.17 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The water and fuel pumping systems company posted revenue of $531.4 million in the period.
Franklin Electric expects full-year earnings to be $3.75 to $3.85 per share.
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