Manitowoc Foodservice (MFS) Misses Q2 EPS by 4c, Updates FY Guidance

Manitowoc Foodservice (NYSE: MFS) reported Q2 EPS of $0.12, $0.04 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $368.4 million versus the consensus estimate of $379 million.

GUIDANCE:

Manitowoc Foodservice sees FY2016 EPS of $0.60-$0.70, versus the consensus of $0.70.

• Organic net sales: up 1 to 3 percent of 2015 organic net sales;
• Adjusted Operating EBITA margin: between 16 and 17 percent;
• Interest expense: between $82 and $86 million;
• Effective tax rate: between 26 and 29 percent excluding discrete items or between 23 and 26 percent inclusive of discrete items realized year-to-date;
• Adjusted diluted EPS: between $0.60 and $0.70 per share;
• Amortization expense: between $30 and $33 million;
• Depreciation expense: between $17 and $20 million;
• Capital expenditures: between $23 and $27 million; and
• Debt reduction: between $120 and $140 million.

For earnings history and earnings-related data on Manitowoc Foodservice (MFS) click here.

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