Franklin Electric Reports Resilient 2024 Financial Performance

Franklin Electric ( (FELE) ) has released its Q4 earnings. Here is a breakdown of the information Franklin Electric presented to its investors.

Franklin Electric is a global leader in producing systems and components for the movement of water and energy, serving diverse markets including residential, commercial, agricultural, industrial, municipal, and fueling applications.

Franklin Electric reported its financial results for the fourth quarter and full year of 2024, with a notable focus on the performance and strategic shifts within its segments. The company highlighted a strong finish to the year, despite economic pressures, with an emphasis on its Energy Systems segment.

In the fourth quarter of 2024, Franklin Electric achieved consolidated net sales of $485.7 million, marking a 3% increase from the previous year. The company reported that operating income for the quarter was $43.0 million, with earnings per share at $0.72. For the full year, consolidated net sales totaled $2.0 billion, a 2% decrease compared to 2023, while operating income was $243.6 million and earnings per share were $3.86. Notably, the Energy Systems segment experienced a 5% increase in net sales, reflecting the company’s growth strategy and market adaptation.

The company’s cash flow from operating activities in 2024 was $261.4 million, and it ended the year with a cash balance of $220.5 million, significantly higher than the previous year. This robust cash position is attributed to improved order trends and strategic initiatives aimed at aligning with a normalized market environment.

Looking ahead, Franklin Electric is focused on revenue growth and margin expansion as it leverages its healthy balance sheet to capitalize on new opportunities. The company has set its 2025 sales guidance, including recent acquisitions, to be in the range of $2.09 billion to $2.15 billion, with expected earnings per share between $4.05 and $4.25.