08:30 AM EDT, 10/29/2024 (MT Newswires) -- Franklin Electric ( FELE ) reported Q3 earnings Tuesday of $1.17 per diluted share, down from $1.23 a year earlier.

Four analysts polled by Capital IQ expected $1.26.

Net sales for the quarter ended Sept. 30 were $531.4 million, down from $538.4 million a year earlier.

Analysts surveyed by Capital IQ expected $551.1 million.

The company said it now expects 2024 earnings of $3.75 to $3.85 per diluted share, down from its prior guidance of $4.16 to $4.34. Four analysts polled by Capital IQ expect $4.14.

Sales for the year are now expected to be $2 billion, lower than its earlier guidance for a range of $2.10 billion to $2.17 billion. Analysts surveyed by Capital IQ expect $2.06 billion.