Business

Franklin Electric meets 4Q profit forecasts

Posted February 21, 2017 6:00 am

The Associated Press

FORT WAYNE, Ind. (AP) - Franklin Electric Co. on Tuesday reported fourth-quarter earnings of $17.3 million.

The Fort Wayne, Indiana-based company said it had profit of 37 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to 38 cents per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 38 cents per share.

The water and fuel pumping systems company posted revenue of $239.6 million in the period.

For the year, the company reported profit of $77 million, or $1.65 per share. Revenue was reported as $949.9 million.

Franklin Electric expects full-year earnings in the range of $1.77 to $1.87 per share.

Franklin Electric shares have risen roughly 5 percent since the beginning of the year. The stock has risen 42 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

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