- Franklin Electric (NASDAQ:FELE +0.8%) cuts Q2 EPS guidance to ~$0.35 vs. prior guidance of $0.54-$0.58 and analyst consensus estimate of $0.52.
- FELE cites record rainfall during May and June in North America, especially in the central U.S.; lower than expected shipments of its Pioneer branded de-watering equipment that supports U.S. oil exploration end markets; a significant slowing in the growth of its business in Brazil; and further weakening of currencies in developing regions.
- Shares are halted, and will resume trading at 3:00.