Franklin Electric Q2 Adj. Profit Meets Estimate

(RTTNews) - Franklin Electric Co., Inc. (FELE) Monday reported second-quarter net income attributable to the company of $27.1 million, or $0.55 per share, compared to $28.1 million or $0.58 per share last year.

Adjusted earnings for the latest second quarter were $0.60 per share, up from $0.59 per share. On average, five analysts polled by Thomson Reuters expected the company to earn $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $284.47 million from $263.44 million last year, while three analysts expected sales of $275.59 million.

Looking ahead, the company is expecting third-quarter adjusted operating earnings to grow by 8 to 10 percent.