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Franklin Electric FRANKLIN ELECTRIC REPORTS RECORD THIRD QUARTER 2021 ● NEWS RELEASE FOR IMMEDIATE DISTRIBUTION Third Quarter 2021 Highlights Record sales of $ 459.0 million , compared to third quarter 2020 sales of $ 351.2 million , an increase of 31 % ● ● RESULTS Strong organic sales growth in all three Segments ; Distribution 30 % , Fueling Systems 18 % , and Water Systems 11 % Operating income was $ 56.6 million , compared to third quarter operating income in 2020 of $ 48.4 million , an increase of 17 % GAAP fully diluted earnings per share ( EPS ) was $ 0.98 , a record for any quarter Working capital as a percent of trailing twelve months sales improved 150 basis points to 27.6 % - Fort Wayne , IN · October 26 , 2021 - Franklin Electric Co. Inc. today announced third quarter 2021 financial results . Third quarter 2021 sales were $ 459.0 million , compared to third quarter 2020 sales of $ 351.2 million . Third quarter 2021 operating income was $ 56.6 million , compared to third quarter operating income in 2020 of $ 48.4 million , an increase of 17 percent . Third quarter 2021 GAAP fully diluted earnings per share ( EPS ) was $ 0.98 , versus GAAP fully diluted EPS in the third quarter 2020 of $ 0.82 . " We continued to break records in the third quarter of 2021 , as we once again delivered the highest consolidated net sales , operating income , and EPS for any quarter in Franklin's history . Demand remains strong across the business , with notably strong performance in our Distribution business , which posted impressive year - over - year sales growth of 43 percent . At the same time , our Water Systems and Fueling Systems segments maintained a remarkable pace with sales growing 28 and 18 percent , respectively , " commented Gregg Sengstack , Franklin Electric's Chairperson and Chief Executive Officer . " While supply chain challenges continue throughout the global economy , our team remains focused on managing these on - going challenges to meet our customers ' needs . The integration of recent acquisitions within Water Treatment continues to progress and offers a promising foundation to drive growth in our Global Water business . We look forward to capitalizing on sustained momentum in all of our business segments across the globe and drive value for our shareholders as we execute our strategic plan , " Mr. Sengstack concluded . 9255 Coverdale Road , Fort Wayne , Indiana 46809 USA franklin-electric.com 1