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FORT WAYNE, Ind. - Franklin Electric Co., Inc. (NASDAQ:FELE), a $4.16 billion market cap company with strong financial health metrics according to InvestingPro, announced Monday the appointment of Jennifer Wolfenbarger as Chief Financial Officer and Chief Accounting Officer.
Wolfenbarger joins Franklin Electric after holding divisional CFO roles at several major manufacturing companies, including her most recent position at Owens Corning where she oversaw the company’s $4 billion global insulation business with 50 manufacturing and distribution sites worldwide. She will be joining a company that has demonstrated remarkable financial stability, having maintained and raised its dividend for 32 consecutive years.
Her previous experience includes financial leadership positions at Caterpillar and Stryker. Throughout her career, Wolfenbarger has worked in multiple countries including the United Kingdom, Brazil, and the Netherlands.
"Jennifer’s experience is exceptional," said Joe Ruzynski, CEO of Franklin Electric, according to the company’s press release.
In her new role, Wolfenbarger will be responsible for enabling growth and overseeing fiscal accountability across the organization as part of the executive leadership team.
Wolfenbarger has also served as Treasurer on three non-profit boards and was the executive sponsor for Owens Corning’s Latin America Women’s Initiative Network. She will be relocating to the Fort Wayne area.
Franklin Electric, which specializes in systems and components for water and energy movement, serves residential, commercial, agricultural, industrial, municipal, and fueling applications globally. The company maintains a healthy financial position with a current ratio of 1.98 and operates with moderate debt levels. According to InvestingPro’s analysis, the company’s current market price is near its Fair Value, with additional insights available in the comprehensive Pro Research Report, which offers deep-dive analysis of 1,400+ top US stocks.
The information in this article is based on a company press release.
In other recent news, Franklin Electric Co., Inc. reported its first-quarter earnings for 2025, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $0.67, missing the forecasted $0.76, and revenue came in at $455.2 million, below the expected $472.1 million. Despite this shortfall, Franklin Electric maintained its full-year sales guidance between $2.090 billion and $2.150 billion. Additionally, Franklin Electric announced a significant amendment to its credit agreement, extending the maturity date to May 14, 2030, while maintaining its revolving commitment at $350 million, with the option to increase it to $525 million under certain conditions.
The company also made notable changes to its board of directors. Jennifer L. Sherman was elected as the new Chairperson of the Board, and Mark A. Carano joined as a new board member, both bringing extensive experience to their roles. These appointments are expected to guide the company in strategic acquisitions and growth. Furthermore, Franklin Electric completed two strategic acquisitions during the quarter, enhancing its product portfolio and expanding its market reach.
Lastly, Franklin Electric’s credit facility now includes a competitive bid option for interest rates on specific loans, which could provide the company with additional financial flexibility. These developments reflect Franklin Electric’s efforts to navigate current economic challenges while positioning itself for future growth.
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