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June 9, 2014
09:13 EDTFELEFranklin Electric announces Brazil acquisition
Franklin Electric announced that it has acquired Bombas Leao based in Monte Azul Paulista, State of Sao Paulo, Brazil. In 2013 Bombas Leao net revenues were approximately $30M. The company believes the transaction will be accretive to FY14 EPS.
News For FELE From The Last 14 Days
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October 29, 2014
15:48 EDTFELEFranklin Electric downgraded to Long-Term Buy from Buy at Hilliard Lyons
08:10 EDTFELEFranklin Electric ses Q4 EPS up 3%-5%
Commenting on the outlook for the fourth quarter of 2014, CEO Gregg Sengstack said, "As we look forward to Q4, our Water Systems outlook assumes the continuation of many of the same factors we experienced in the third quarter. Although we believe organic revenue growth will be solid, product sales mix will continue to negatively affect our adjusted operating income as we expect ground water equipment sales to be lower in the U.S., due principally to the decline in the sale of agricultural irrigation pumping equipment. As a result, we are projecting that our fourth quarter 2014 global Water Systems sales will increase by 8%-10%, but our adjusted operating income will decline 10%-12%. It is important to note that as we move into 2015, we expect our Water Systems sales mix to return to more historical levels, restoring the operating margin profile the company has consistently achieved. We estimate that our Fueling Systems sales and adjusted operating earnings will grow in Q4 by 4%-6% as compared to a record 4Q13. Finally, our consolidated adjusted EPS growth will be in the 3%-5% range, due in part, to the continued benefit of tax planning with respect to our foreign operations."
08:07 EDTFELEFranklin Electric reports Q3 adjusted EPS 50c, consensus 52c
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