Franklin Electric Co. Inc. (NASDAQ:FELE) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Franklin Electric Co. Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10% to $0.33 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Rose 10.2% to $222.52 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Franklin Electric Co. Inc. reported adjusted EPS income of $0.33 per share. By that measure, the company missed the mean analyst estimate of $0.33. It missed the average revenue estimate of $224.49 million.
Quoting Management: Scott Trumbull, Franklin Chairman and Chief Executive, commented:
“We are pleased to report a very strong start to the year for Franklin Electric. In the first quarter, the Company’s revenue and adjusted earnings per share both increased by 10 percent and our gross profit and adjusted operating income margins continued to improve, both increasing by 40 basis points.
Key Stats (on next page)…
Revenue increased 8.46% from $205.17 million in the previous quarter. EPS increased 17.86% from $0.28 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.56 to a profit $0.57. For the current year, the average estimate has moved up from a profit of $1.71 to a profit of $1.74 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)