FELE - Franklin Electric misses Q3 top and bottom line estimates; updates FY23 outlook

2023-10-24 08:07:55 ET

• Franklin Electric press release ( NASDAQ: FELE ): Q3 GAAP EPS of $1.23 misses by $0.06 .
• Revenue of $538.4M (-2.4% Y/Y) misses by $42.42M .
• Guidance: " The Company is updating its guidance for full year 2023 sales to be in the range of $2.05 billion to $2.15 billion vs. the consensus of $2.16 billion and full year 2023 EPS to be in the range of $4.07 to $4.17 vs. the consensus of $4.30."
• "Looking ahead, we remain focused on delivering for our customers while continuing to manage our costs and driving value for our shareholders.” said Gregg Sengstack, Franklin Electric’s Chairperson and Chief Executive Officer.

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