Welbilt: 3Q Earnings Snapshot
NEW PORT RICHEY, Fla. (AP) _ Welbilt Inc. (WBT) on Tuesday reported third-quarter earnings of $20.1 million.
The New Port Richey, Florida-based company said it had profit of 14 cents per share. Earnings, adjusted for non-recurring costs, were 22 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The food and beverage equipment maker posted revenue of $410.5 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $424.9 million.
Welbilt expects full-year earnings in the range of 67 cents to 72 cents per share.
Welbilt shares have increased 78% since the beginning of the year. The stock has increased slightly more than 2% in the last 12 months.