Welbilt: 2Q Earnings Snapshot
NEW PORT RICHEY, Fla. (AP) _ Welbilt Inc. (WBT) on Tuesday reported second-quarter earnings of $20 million.
On a per-share basis, the New Port Richey, Florida-based company said it had profit of 14 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The food and beverage equipment maker posted revenue of $426.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $424.1 million.
Welbilt expects full-year earnings in the range of 71 cents to 81 cents per share.
Welbilt shares have risen 40% since the beginning of the year. The stock has declined 30% in the last 12 months.