FELE - Franklin Electric Offers Attractive Leverage To Water Scarcity And Water Quality
- Franklin Electric saw record demand in the second quarter, and exited the quarter with an unusually high backlog for what is a short lead-time business, but margins were modestly disappointing.
- Franklin's groundwater pumps leverage increasingly significant water access issues, and expansion into water treatment is a logical extension of the business given growing water quality issues.
- The company also has solid operations in areas like surface pumps (dewatering, et al) and fueling systems.
- "Cheap" really isn't a word that applies to water infrastructure stocks, but Franklin's leverage to water supply and water quality issues makes it relatively more attractive.
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Franklin Electric Offers Attractive Leverage To Water Scarcity And Water Quality