Earnings release
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Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE DISTRIBUTION FRANKLIN ELECTRIC REPORTS SECOND QUARTER 2026 RESULTS Second Quarter 2026 Highlights • Consolidated net sales of $622.9 million, an increase of 6% to the prior year • Net sales increased across all three segments: 5% in Water Systems, 3% in Energy Systems, and 11% in Distribution • Operating income was $93.6 million, an increase of 6% to the prior year, with operating margin of 15.0% • GAAP fully diluted earnings per share (EPS) was $1.46, an increase of 11 percent; Adjusted diluted EPS was $1.55, an increase of 18 percent Fort Wayne, IN – July 28, 2026 – Franklin Electric Co., Inc. today announced its second quarter financial results for fiscal year 2026. Second quarter 2026 net sales were $622.9 million compared to second quarter 2025 net sales of $587.4 million. Second quarter 2026 operating income was $93.6 million, compared to second quarter 2025 operating income of $88.1 million. Second quarter 2026 diluted EPS was $1.46, compared to second quarter 2025 EPS of $1.31. Second quarter adjusted diluted EPS was $1.55, compared to 2025 second quarter adjusted diluted EPS of $1.31. “In the second quarter, we delivered 6 percent year ‑ over ‑ year top ‑ line growth, balanced between organic and inorganic contributions, along with 18 percent growth in adjusted EPS. With this strong performance and continued momentum in our core businesses, we are increasing both our revenue and EPS guidance for the year. These results reflect the progress of our organic volume growth initiatives — adding new customers, strengthening our channels, and investing in innovation across the highest ‑ growth applications in the Water and Energy segments. We’re seeing solid demand in areas such as dewatering for mining, pressure ‑ boosting, and water treatment solutions in fast ‑ growing regions,” commented Joe Ruzynski, Franklin Electric’s CEO. “At the same time, we continue to manage closely the inflationary price pressures we’re seeing in sourced materials and logistics lanes. Our global footprint and in ‑ region manufacturing model help us serve critical water and energy needs reliably while maintaining the operational discipline that supports profitable growth and long- term value for our shareholders,” concluded Mr. Ruzynski. Segment Summaries Water Systems net sales were $358.5 million in the second quarter, an increase of $17.7 million or 5 percent compared to the second quarter of 2025. The incremental sales were driven by the sales impact of recent acquisitions, favorable foreign exchange, and price realization. Water Systems operating income in the second quarter of 2026 was $65.2 million, an increase of 6 percent over second quarter 2025 operating income of $61.8 million. Water Systems had $0.4 million of restructuring expenses in the second quarter with adjusted operating income of $65.6 million, an increase of 6 percent over the second quarter of 2025 adjusted operating income of $61.9 million. 1 1 1 1 – Adjusted diluted EPS is a non-GAAP measure. Please refer to our Note Regarding Non-GAAP Financial Measures below for further explanation as well as the final page of this release for a reconciliation of non-GAAP measures to the appropriate GAAP measure. 2 2
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Distribution net sales were $221.1 million, an increase of $21.1 million or 11 percent compared to the second quarter of 2025. Sales increases were driven by higher volumes, the incremental sales impact of recent acquisitions, and price realization. The Distribution segment operating income in the second quarter 2026 was $19.7 million, an increase of 22 percent over second quarter 2025 operating income of $16.1 million. Energy Systems net sales were $80.2 million in the second quarter 2026, an increase of $2.7 million or 3 percent compared to the second quarter 2025. Sales increases were driven by higher price realization and volumes. Energy Systems operating income in the second quarter of 2026 was $27.9 million compared to the second quarter 2025 operating income of $29.1 million. Energy Systems operating income in the second quarter of 2026 included a $4.5 million legal settlement expense compared to $0.0 million in the second quarter of 2025. Energy Systems adjusted operating income was $32.4 million, an increase of 11 percent over the second quarter of 2025 adjusted operating income of $29.1 million. 2026 Guidance The Company is raising its guidance for full year 2026 net sales to be in the range of $2.21 billion to $2.29 billion and full year 2026 Adjusted Diluted EPS to be in the range of $4.50 to $4.70. Earnings Conference Call A conference call to review earnings and other developments in the business will commence at 10:00 am ET. The second quarter 2026 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to: https://edge.media-server.com/mmc/p/bv4pobwm For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below. https://register-conf.media-server.com/register/BIf86cd5e922ea464585fd65d6489735a4 All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call). A replay of the conference call will be available from Tuesday, July 28, 2026, through 10:00 am ET on Tuesday, August 4, 2026, by visiting the listen-only webcast link above. Forward Looking Statements "Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, 2 2 2 – Adjusted operating income is a non-GAAP measure. Please refer to our Note Regarding Non-GAAP Financial Measures below for further explanation as well as the final page of this release for a reconciliation of non-GAAP measures to the appropriate GAAP measure.
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government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2025, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward- looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements. Note Regarding Non-GAAP Financial Measures The company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the non-GAAP financial measure Adjusted Diluted EPS and Adjusted Operating Income provide additional meaningful information regarding the company’s performance and financial strength. Non-GAAP financial measures should be viewed in addition to and not as an alternative for the company’s reported results prepared in accordance with GAAP. In addition, not all companies use identical calculations for Adjusted Diluted EPS and Adjusted Operating Income; therefore, Adjusted Diluted EPS and Adjusted Operating Income included in this release may not be comparable to similarly titled measures of other companies. Adjusted Diluted EPS and Adjusted Operating Income are defined and reconciled to what management believes to be the most comparable GAAP measures in a schedule at the end of this release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the items that are excluded from the non-GAAP outlook measure. About Franklin Electric Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers worldwide in residential, commercial, agricultural, industrial, municipal and fueling applications. Franklin Electric is proud to be recognized in Newsweek’s lists of America’s Most Responsible Companies 2025, Most Trustworthy Companies 2025, and Greenest Companies 2025. Franklin Electric Contact: Jennifer Wolfenbarger / Dean Cantrell Franklin Electric Co., Inc. InvestorRelations@fele.com
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FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except per share amounts) Second Quarter Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net sales $ 622,880 $ 587,434 $ 1,123,317 $ 1,042,681 Cost of sales 392,275 375,608 717,743 666,952 Gross profit 230,605 211,826 405,574 375,729 Selling, general, and administrative expenses 132,088 123,521 255,100 243,164 Restructuring expense 406 164 4,278 323 Legal settlement loss 4,512 — 4,512 — Operating income 93,599 88,141 141,684 132,242 Interest expense (3,524) (2,805) (5,835) (4,604) Other income (expense), net 1,345 (164) 971 679 Foreign exchange expense, net (2,497) (4,548) (2,122) (5,841) Income before income taxes 88,923 80,624 134,698 122,476 Income tax expense 22,822 20,061 33,902 30,539 Net income $ 66,101 $ 60,563 $ 100,796 $ 91,937 Less: Net income attributable to noncontrolling interests (359) (423) (724) (835) Net income attributable to Franklin Electric Co., Inc. $ 65,742 $ 60,140 $ 100,072 $ 91,102 Earnings per share: Basic $ 1.48 $ 1.32 $ 2.25 $ 1.99 Diluted $ 1.46 $ 1.31 $ 2.23 $ 1.97
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FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) June 30, 2026 December 31, 2025ASSETS Cash and cash equivalents $ 97,283 $ 99,662 Receivables (net) 352,459 247,511 Inventories 597,736 552,981 Other current assets 49,390 58,472 Total current assets 1,096,868 958,626 Property, plant, and equipment, net 256,064 252,164 Lease right-of-use assets, net 66,574 67,867 Goodwill and other assets 731,226 665,728 Total assets $ 2,150,732 $ 1,944,385 LIABILITIES AND EQUITY Accounts payable $ 206,192 $ 174,954 Accrued expenses and other current liabilities 121,534 116,747 Current lease liability 19,580 20,518 Current maturities of long-term debt and short-term borrowings 108,491 31,827 Total current liabilities 455,797 344,046 Long-term debt 134,317 135,184 Long-term lease liability 45,930 46,481 Deferred income taxes 49,817 39,275 Employee benefit plans 18,486 22,833 Other long-term liabilities 34,994 29,541 Redeemable noncontrolling interest 1,770 1,657 Total equity 1,409,621 1,325,368 Total liabilities and equity $ 2,150,732 $ 1,944,385
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FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended (In thousands) June 30, 2026 June 30, 2025 Cash flows from operating activities: Net income $ 100,796 $ 91,937 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 33,895 30,203 Non-cash lease expense 10,756 10,674 Share-based compensation 7,655 7,969 Other (1,069) 4,509 Changes in assets and liabilities: Receivables (98,781) (61,458) Inventory (30,750) (49,215) Accounts payable and accrued expenses 37,945 11,514 Operating leases (10,956) (10,513) Income taxes-U.S. Tax Cuts and Jobs Act — (4,837) Other 9,214 1,214 Net cash flows from operating activities 58,705 31,997 Cash flows from investing activities: Additions to property, plant, and equipment (20,383) (18,415) Proceeds from sale of property, plant, and equipment 1,342 727 Acquisitions and investments (71,926) (109,687) Other investing activities 39 54 Net cash flows from investing activities (90,928) (127,321) Cash flows from financing activities: Net change in debt 75,939 134,850 Payment of debt issuance costs — (974) Proceeds from issuance of common stock 5,063 2,954 Purchases of common stock (18,326) (129,321) Dividends paid (24,862) (25,321) Deferred payments for acquisitions (1,696) (4,300) Net cash flows from financing activities 36,118 (22,112) Effect of exchange rate changes on cash and cash equivalents (6,274) 1,488 Net change in cash and cash equivalents (2,379) (115,948) Cash and cash equivalents at beginning of period 99,662 220,540 Cash and cash equivalents at end of period $ 97,283 $ 104,592
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Key Performance Indicators: Net Sales Summary Net Sales For the Second Quarter (in millions) UnitedStates &Canada LatinAmerica Europe,MiddleEast &Africa AsiaPacific TotalWater Energy Distribution Other/Elims Consolidated Q2 2025 $ 203.8 $ 52.8 $ 55.7 $ 28.5 $ 340.8 $ 77.5 $ 200.0 $ (30.9) $ 587.4 Q2 2026 $ 220.0 $ 52.6 $ 56.3 $ 29.6 $ 358.5 $ 80.2 $ 221.1 $ (36.9) $ 622.9 Change $ 16.2 $ (0.2) $ 0.6 $ 1.1 $ 17.7 $ 2.7 $ 21.1 $ (6.0) $ 35.5 % Change 8 % — % 1 % 4 % 5 % 3 % 11 % 6 % Foreigncurrencytranslation, net* $ — $ 3.9 $ 1.9 $ 0.4 $ 6.2 $ (0.1) $ — $ 6.1 % Change — % 7 % 3 % 1 % 2 % — % — % 1 % Acquisitions $ 5.8 $ — $ 1.6 $ — $ 7.4 $ — $ 7.6 $ 15.0 % Change 3 % — % 3 % — % 2 % — % 4 % 3 % Volume/Price $ 10.4 $ (4.1) $ (2.9) $ 0.7 $ 4.1 $ 2.8 $ 13.5 $ (6.0) $ 14.4 % Change 5 % (8)% (5)% 2 % 1 % 4 % 7 % 19 % 2 % *The Company has presented local currency price increases used to offset currency devaluation in the highly inflationary economies of Argentina and Turkey within the foreign currency translation, net row above. Key Performance Indicators: Operating Income and Margin Summary Operating Income and Margins (in millions) For the Second Quarter 2026 Water Energy DistributionOther/ElimsConsolidated Operating Income/(Loss) $ 65.2 $ 27.9 $ 19.7 $ (19.2)$ 93.6 % Operating Income To Net Sales 18.2 % 34.8 % 8.9 % 15.0 % Operating Income and Margins (in millions) For the Second Quarter 2025 Water Energy DistributionOther/ElimsConsolidated Operating Income/(Loss) $ 61.8 $ 29.1 $ 16.1 $ (18.9)$ 88.1 % Operating Income To Net Sales 18.1 % 37.5 % 8.1 % 15.0 %
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Reconciliation of Non-GAAP Financial Measure: Adjusted Diluted EPS For the Second Quarter 2026 2025 Change Diluted Earnings per Share "EPS" (asreported - US GAAP) $ 1.46 $ 1.31 11 % Restructuring $ 0.01 $ — Legal settlement, gross of tax $ 0.08 $ — Adjusted Diluted EPS (non-GAAP) $ 1.55 $ 1.31 18 % Reconciliation of Non-GAAP Financial Measure: Adjusted Operating Income Operating Income and Adjusted (in millions) For the Second Quarter 2026 Water Energy DistributionOther/ElimsConsolidated GAAP Operating Income / (Loss) $ 65.2 $ 27.9 $ 19.7 $ (19.2)$ 93.6 Restructuring, gross of tax $ 0.4 $ — $ — $ — $ 0.4 Legal Settlement, gross of tax $ — $ 4.5 $ — $ — $ 4.5 Non-GAAP Adjusted Operating Income /(Loss) $ 65.6 $ 32.4 $ 19.7 $ (19.2)$ 98.5 Operating Income and Adjusted (in millions) For the Second Quarter 2025 Water Energy DistributionOther/ElimsConsolidated GAAP Operating Income / (Loss) $ 61.8 $ 29.1 $ 16.1 $ (18.9)$ 88.1 Restructuring, gross of tax $ 0.1 $ — $ — $ — $ 0.1 Legal Settlement, gross of tax $ — $ — $ — $ — $ — Non-GAAP Adjusted Operating Income /(Loss) $ 61.9 $ 29.1 $ 16.1 $ (18.9)$ 88.2