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NEWS RELEASE FOR IMMEDIATE DISTRIBUTION Exhibit 99.1 FRANKLIN ELECTRIC REPORTS RECORD FIRST QUARTER 2021 RESULTS First Quarter 2021 Highlights • Record sales of $ 333.0 million , compared to first quarter 2020 sales of $ 266.8 million , an increase of 25 % • Strong organic sales growth for Distribution of 31 % and Water Systems of 18 % • Operating income was $ 33.8 million , compared to first quarter operating income in 2020 of $ 13.8 million , an increase of a 144 % • • GAAP fully diluted earnings per share ( EPS ) was $ 0.59 , versus GAAP fully diluted EPS in the first quarter 2020 of $ 0.23 , an increase of 157 % Working capital as a percent of trailing twelve months sales improved 220 basis points to 27.7 % Fort Wayne , IN - April 27 , 2021 - Franklin Electric Co. Inc. today announced first quarter 2021 financial results . First quarter 2021 sales were $ 333.0 million , compared to first quarter 2020 sales of $ 266.8 million . First quarter 2021 operating income was $ 33.8 million , compared to first quarter operating income in 2020 of $ 13.8 million , an increase of a 144 percent . First quarter 2021 GAAP fully diluted earnings per share ( EPS ) was $ 0.59 , versus GAAP fully diluted EPS in the first quarter 2020 of $ 0.23 . " Building off a strong fourth quarter , our Water Systems and Distribution businesses maintained their momentum , delivering record sales and earnings for the first quarter . At the same time , our Fueling Systems business hit an inflection point , and appears to have turned the post - pandemic corner , producing solid revenue growth alongside 23 percent operating income growth versus the first quarter last year , ” commented Gregg Sengstack , Franklin Electric's Chairperson and Chief Executive Officer . " While 2021 is off to a great start with significant momentum at our heels and a strong strategy for growth , we remain vigilant in adapting to the ongoing impacts of the global pandemic , which continues to cause disruption across the globe . " Mr. Sengstack concluded , " We are confident that our approach to grow as a global provider of water and fuel systems positions us well to meet the needs of our customers and generate value for our shareholders . As a result , we are increasing our full year earnings per share before restructuring expense guidance to be in the range of $ 2.80 to $ 3.00 , given the demand environment we see in most of the end markets we serve . " Segment Summaries Water Systems sales were $ 197.6 million in the first quarter 2021 , an increase of $ 33.5 million or 20 percent versus the first quarter 2020. Water Systems sales , excluding acquisitions and the impact of foreign currency translation , were up about 18 percent compared to the first quarter 2020. Sales of