Welbilt: 4Q Earnings Snapshot
NEW PORT RICHEY, Fla. (AP) _ Welbilt Inc. (WBT) on Tuesday reported fourth-quarter net income of $24.3 million.
On a per-share basis, the New Port Richey, Florida-based company said it had net income of 17 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 18 cents per share.
The food and beverage equipment maker posted revenue of $406.1 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $396 million.
For the year, the company reported profit of $75.5 million, or 53 cents per share. Revenue was reported as $1.59 billion.
Welbilt expects full-year earnings in the range of 71 cents to 81 cents per share.
Welbilt shares have risen 37 percent since the beginning of the year. The stock has declined 31 percent in the last 12 months.