Franklin Electric reports Q3 EPS $1.17, consensus $1.27

Reports Q3 revenue $531.44M, consensus $555.88M. “Our third quarter results were softer than expected due to continued macro pressure from lower home sales and starts, along with weather being wetter than normal. However, the demand environment remains healthy across our key end markets, which has normalized following record levels of sales in recent years. Margins remained stable due to our disciplined cost management, and we are actively pursuing opportunities to further reduce expenses across the enterprise,” commented Joe Ruzynski, Franklin Electric’s (FELE) CEO.