PNR - Franklin Electric Offers Leverage To Real Pain Points In Water
- Franklin Electric is seeing strong demand across the business, with particular strength in residential and ag-related groundwater equipment.
- Higher input and logistics costs will pressure margins into 2023, but management is securing significant price improvements that could persist beyond the supply chain crunch.
- I believe Franklin is leveraged to some of the most attractive parts of the water ecosystem, including water supply and water treatment.
- Mid-to-high single-digit revenue growth and high single-digit FCF growth can support a high single-digit total annualized long-term return.
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Franklin Electric Offers Leverage To Real Pain Points In Water