Welbilt: 2Q Earnings Snapshot
NEW PORT RICHEY, Fla. (AP) _ Welbilt Inc. (WBT) on Thursday reported second-quarter net income of $12.1 million.
On a per-share basis, the New Port Richey, Florida-based company said it had profit of 9 cents. Earnings, adjusted for one-time gains and costs, were 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The food and beverage equipment maker posted revenue of $420.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $399.6 million.
Welbilt expects full-year earnings in the range of 80 cents to 90 cents per share.
Welbilt shares have decreased nearly 3 percent since the beginning of the year. The stock has increased 18 percent in the last 12 months.