Franklin Electric Lowers 2024 Sales Guidance To $2B From $2.10B-$2.17B Vs. $2.067B Estimate; Cuts EPS Outlook To $3.75-$3.85 From $4.16-$4.34 Vs. $4.20 Estimate
Portfolio Pulse from Benzinga Newsdesk
Franklin Electric has revised its 2024 sales and EPS guidance downwards. The company now expects sales of approximately $2 billion, down from the previous range of $2.10 billion to $2.17 billion, and EPS between $3.75 and $3.85, down from $4.16 to $4.34.
October 29, 2024 | 12:06 pm
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Franklin Electric has reduced its 2024 sales guidance to $2 billion and EPS to $3.75-$3.85, indicating potential challenges in meeting previous expectations.
The downward revision in sales and EPS guidance suggests that Franklin Electric is facing challenges that could impact its financial performance. This is likely to negatively affect investor sentiment and the stock price in the short term.
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