Record Sales and Operating Income
Franklin Electric set new high marks for revenue, income, and earnings per share, with a consolidated sales growth of 8% across all segments. The Water and Distribution segment delivered a sales record, and the Energy segment achieved record operating income.
Successful Pricing Actions and Margin Protection
Pricing actions were effectively implemented to protect margins amidst market volatility, with operating income margin reaching 15%, up from 14.6% year-over-year.
Strong Performance in Energy Segment
The Energy segment reported a 6% sales growth, driven by favorable volume and price increases, with operating income margins improving by 200 basis points.
Distribution Segment Margin Improvement
The Distribution segment achieved a 300 basis point improvement in operating margins, driven by strong operational execution and improved pricing environment.
Strategic Leadership Appointments
Jennifer Wolfenbarger was welcomed as the new CFO, bringing extensive financial leadership experience, and Daniela Williams as the new Chief Human Resources Officer, enhancing the company’s strategic capabilities.