Franklin Electric Co., Inc. (NASDAQ:FELE) Q2 2023 Earnings Conference Call July 25, 2023 9:00 AM ET

Company Participants

Sandy Statzer - Vice President of Finance and Investor Relations

Gregg Sengstack - Chairperson and Chief Executive Officer

Jeff Taylor - Vice President and Chief Financial Officer

Conference Call Participants

Matt Summerville - D.A. Davidson

Michael Halloran - Baird

Walter Liptak - Seaport Research

Operator

Hello and thank you for standing by. Welcome to the Franklin Electric Reports Second Quarter 2023 Sales and Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

It is now my pleasure to introduce Vice President of Finance and Investor Relations, Sandy Statzer.

Sandy Statzer

Thank you, Andrew, and welcome, everyone, to Franklin Electric's Second Quarter 2023 Earnings Conference Call. With me today is Gregg Sengstack, our Chairperson and our Chief Executive Officer; and Jeff Taylor, our Vice President and Chief Financial Officer. On today's call, Gregg will review our second quarter business highlights then Jeff will provide an overview of our financial performance. We will then take questions.

Before we begin, let me remind you that as we conduct this call, we will be making forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties, many of which could cause actual results to differ materially from such forward-looking statements. A discussion of these factors may be found in the company's annual report on Form 10-K and today's earnings release.

All forward-looking statements made during this call are based on information currently available and except as required by law, the company assumes no obligation to update any forward-looking statements.

With that, I will now turn the call over to Gregg Sengstack.

Gregg Sengstack

Thank you, Sandy. The Franklin team delivered another strong quarter of performance, which included record sales and earnings per share results for any quarter in Franklin's history. These record top line results were driven by our Water Systems and Distribution segments.

Throughout the quarter, we saw solid demand continue across our core end markets and geographic regions, even as each business continued to face weather-related headwinds. Strong execution and disciplined expense management by our global teams enabled us to deliver solid margins in all of our businesses.