FORT WAYNE, Ind. (AP) — FORT WAYNE, Ind. (AP) — Franklin Electric Co. (FELE) on Tuesday reported second-quarter net income of $65.7 million.
On a per-share basis, the Fort Wayne, Indiana-based company said it had net income of $1.46. Earnings, adjusted for non-recurring costs and restructuring costs, were $1.55 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The water and fuel pumping systems company posted revenue of $622.9 million in the period.
Franklin Electric expects full-year earnings in the range of $4.50 to $4.70 per share, with revenue in the range of $2.21 billion to $2.29 billion.
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