Franklin Electric Reports Record Q2 Sales

Franklin Electric is headquartered in Fort Wayne.

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Fort Wayne-based Franklin Electric Co. Inc. (Nasdaq: FELE) is reporting second quarter net income of nearly $33 million, compared to $30 million during the same period last year. The company says it also hit record sales of $355 million in the quarter.

“Overall, our second quarter results were a record for any quarter in the Company’s history. Sales of Pioneer branded dewatering equipment increased by about 9 percent in the second quarter when compared to the prior year and our Fueling Systems organic revenue growth was about 7 percent,” said Gregg Sengstack, Franklin Electric’s chairman and chief executive officer.

The company says the wet spring had an adverse effect on sales of groundwater products in both their water systems and distribution division in the U.S. and Canada.

To read the full report, click on this link.